Take or Pay definition

Take or Pay means the charge for contracted Train services where the contracted Train services are not used by the relevant Railway Operator, and for the End User is calculated as ATP in [Part 5/Part 4] of Schedule 3;

Take or Pay means a form of contract in which the payor is obligated to pay regardless of whether or not the payor uses the services, volumes or capacity available under the contract;

Take or Pay means a customer’s obligation to a minimum revenue or volume commitment; “TC Energy” means TC Energy Corporation;

Examples of Take or Pay in a sentence

• It is also clarified to the Assured that the percentage of annual contracted quantity fixed with respect to Take or Pay obligations in the FSA may be reviewed by the Seller in light of its coal availability and coal commitments, and amended on year-to-year basis during the term of the FSA.

• Where such date is prior to the date when the renewed or varied Reference Tariff Schedule and/or renewed or varied Take or Pay methodology relevant to the Train Services are published or otherwise advised (“Advice Date”), then the Parties will account to one another accordingly for the period between the Review Date and the Advice Date.

• Upon and for the duration of such suspension, Sellers shall be relieved of their obligation to make Gas available for delivery to Buyer under this Agreement, but Buyer shall not be discharged of any of its obligations under this Agreement including Buyer’s obligations under Clause 10 to take and pay for, or pay for if not taken a quantity of Gas at least equal to the Take or Pay Quantity for the relevant Contract Year.

• GAIL has the discretion to waive off the said Take or Pay charges.

• Take or Pay Contracts The Revenue Obligation Resolution does not prohibit the Authority from entering into take or pay contracts, including take or pay contracts with a separate system described under section “Separate Systems,” to purchase power under conditions whereby payments the Authority is required to make may be calculated, in whole or in part, on the basis of power which the Authority does not purchase, require or obtain for whatever reasons.

More Definitions of Take or Pay

Take or Pay contract means a contract binding supplier to supply contracted quantities of gas and binding the customer to pay those quantities of gas regardless of whether it took them;

Take or Pay means Customers must pay for their Firm Requirements Power whether they use it or not:

Take or Pay means that except in the case of a Force Majeure event stipulated in this Contract or Inherit Equipment Defects or the Party B's default stipulated in the Section 12.02 hereof, Party A shall at least pay to Party B the amount for the Annual Minimum On-Grid Quantity at the On-Grid Tariff. Even if Party A decides to reduce its purchase quantity, or is unable to purchase all the Annual Minimum On-Grid Quantity, it has to pay to Party B the same amount as if it has purchased all the Annual Minimum On-Grid Quantity.

Take or Pay means an obligation on a customer to pay for an agreed minimum quantity of a commodity even if it fails to “take” that agreed minimum quantity; and

Take or Pay means a purchaser agrees to pay for a specific minimum volume of water annually, regardless of whether the purchaser takes delivery of the full amount of that volume. Take-or-pay agreements for water purchased from the District cannot be reduced unilaterally by either party during the term of the agreement (although the District is excused from delivery because of lack of water supply or system capacity, system failure, and all other reasons beyond its reasonable control). The Board may consider an application to reduce a take-or-pay agreement minimum volume. The Board will not approve such a reduction unless another member agency applies for a new agreement or an agreement increase in an equal or greater quantity than the reduced volume. The Board may approve the reduction and the increase simultaneously if it finds it is in the best interests of the District. Conditions to such a reduction and contemporary increase include the following:

Take or Pay basis. What this means is that [the defen- dant] was to pay a set amount per month as a minimum for long-distance service to be provided by [the plain- tiff]. Any usage above the minimum required amount would be billed to [the defendant] at the agreed rate per minute. Also, because the price for use was on a ‘take or pay’ basis, [the defendant] was not required to use or run any traffic over [its circuit]. Even if [the defendant] did not run any calls through [its circuit] or failed to run enough minutes to satisfy the monthly [minimum usage guarantee, the defendant] neverthe-

Take or Pay means as defined in Article 10.4.