Examples of Recourse Rate in a sentence
To be eligible for the Regulatory ROFR when a service agreement is extended, Shipper must extend at the applicable Recourse Rate for a term of 12 or more consecutive months or, for a seasonal service agreement, for a term of more than 1 year.
When the rate bid by a bidder is lower than the Recourse Rate, that bid rate will be subject to adjustment in accordance with the procedures of this Tariff and of the Commission by an amount proportionate to the increase or decrease in the Recourse Rate, unless otherwise clearly stated in the service agreement.
The highest rate that Shipper under the Prearranged Agreement must match to receive service under the Prearranged Agreement is the Recourse Rate.
Transporter has the right to reject any bids that: (i) are for less than the Recourse Rate; (ii) do not satisfy any of the other terms specified in the posting; or (iii) include conditions or provisions that Transporter determines, in its reasonable discretion, to be unacceptable.
In accordance with Section 34.4 of the General Terms and Conditions, for purposes of allocating capacity pursuant to Sections 7.2, 7.3 and 7.4, Shippers paying more than the Recourse Rate will be considered to be paying the Recourse Rate.