Shortfall Gas definition

Shortfall Gas shall have the meaning given to it in Article 5;
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Shortfall Gas has the meaning set out in Article 17.1.1.
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Shortfall Gas has the meaning set out in Article 17.1 and shall also include the term “Shortfall”.
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Examples of Shortfall Gas in a sentence

  • The Gas Balance Account shall subsequent hereto be adjusted for the Shortfall Gas sold by the Operator.

  • BUYER shall issue the SELLER with an invoice for any amounts owed pursuant to this clause by the 20th day of the month following the month when the Shortfall Gas occurred.

  • For the avoidance of doubt, BUYER shall not have an obligation to enter into any replacement transactions, and the compensation for Shortfall Gas mentioned above shall be the only legal remedy of BUYER in respect of the Shortfall Gas.

  • BUYER shall issue SELLER with an invoice for any amounts owed pursuant to this clause by the 20th day of the month following the month when Shortfall Gas occurred.

  • In case of occurrence of any Shortfall Gas the following shall apply: The SELLER shall compensate to the BUYER an amount of money, if positive, at which the BUYER acting as a Reasonable and Prudent Operator replaces such Shortfall Gas.

  • It is agreed that each such quantity of Period Shortfall will be reduced by any quantities of Shortfall Gas already taken into account in respect of any Hour or Day falling within any longer aforesaid period.

  • For the avoidance of doubt, BUYER shall not have an obligation to enter into any replacement transactions, and the compensation for Shortfall Gas mentioned above shall be the only legal remedy of BUYER in respect of Shortfall Gas.

  • This amount may be increased by the amount of any incremental transportation costs and charges, and other reasonable and verifiable costs or expenses incurred by the BUYER in respect to such Shortfall Gas.

  • Shortfall Gas is any quantity of Natural Gas not made available by SELLER at Delivery Point(s) in respect of any Day of Delivery Period for reasons other than Force Majeure and/or Agreed Repairs.

  • Shortfall Gas is any quantity of Natural Gas not made available by SELLER at Delivery Point in respect of any Day of Delivery Period for reasons other than Force Majeure.


More Definitions of Shortfall Gas

Shortfall Gas means, subject to clause 8.2(h) and clause 8.2(i), for a Buyer in respect of a Day the quantity of Gas up to, but not exceeding, that Buyer’s DCQ for that Day which the Seller fails to Make Available on that Day as a result of breaching its Supply Obligation. To avoid doubt, Shortfall Gas does not include any Gas which the Seller is excused from delivering under this Agreement, including due to Force Majeure (described in clause 16.1), planned Maintenance (described in clause 13.2(a)), unplanned Maintenance (described in clause 13.2(b)) and the operational tolerances (described in clause 8.1 (b)).
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Shortfall Gas. , "Shortfall Notice" and "Shortfall Period" have the respective meanings given in clause 3.64.
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Related to Shortfall Gas

  • Shortfall Amount as defined in Section 2.6.

  • Shortfall Payment has the meaning specified in Section 3.7.

  • Class A Interest Shortfall Amount As to any Distribution Date and any Class of Class A Certificates, any amount by which the Interest Accrual Amount of such Class with respect to such Distribution Date exceeds the amount distributed in respect of such Class on such Distribution Date pursuant to Paragraph first of Section 4.01(a).

  • Substitution Shortfall Amount As defined in Section 2.03(d).

  • Curtailment Shortfall For any Distribution Date and for any Curtailment received in the Prior Period, an amount equal to one month’s interest on such Curtailment at the Pass-Through Rate for the applicable Mortgage Loan.

  • Class B Interest Shortfall Amount Any of the Class B-1 Interest Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest Shortfall Amount or Class B-6 Interest Shortfall Amount.

  • Class B-2 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-2 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph eighth of Section 4.01(a).

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Shortfall means the ACP emissions minus the ACP limit when the ACP emissions were greater than the ACP limit during a specified compliance period, expressed to the nearest pound of VOC. Shortfall does not include emissions occurring prior to the date that the ACP agreement approving an ACP is signed by the board.

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Class B-1 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-1 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph fifth of Section 4.01(a).

  • Class B-5 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-5 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph seventeenth of Section 4.01(a).

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Net Interest Shortfalls means Interest Shortfalls net of payments by the Company, the Servicer or the Master Servicer in respect of Compensating Interest.

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.

  • REMIC 2 Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LTAA minus the Marker Rate, divided by (b) 12.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).