Take or Pay Obligations definition

Take or Pay Obligations means obligations to sell or deliver Petroleum Substances or any of them without being entitled in due course to receive and retain full payment for such Petroleum Substances.

Take or Pay Obligations means obligations to sell or deliver Petroleum Substances or any of them, rights to which are granted, reserved or otherwise conferred pursuant to the Title Documents, without being entitled in due course to receive and retain full payment for such Petroleum Substances;

Take or Pay Obligations means the outstanding obligations of Vendor arising in connection with payments made to Vendor, or its predecessors in interest, under or in respect of gas purchase contracts or other contracts for the sale of Petroleum Substances, which payments were made in lieu of or in consequence of the buyers under such contracts not taking delivery of Petroleum Substances or in consideration of future deliveries of Petroleum Substances and which obligations include obligations to deliver Petroleum Substances after the Closing Date or to repay such payments after the Closing date;

Examples of Take or Pay Obligations in a sentence

• Take or Pay Obligations, Prepayments, BTU Adjustments and Balancing Problems .

• Xxxxxxx ------------------------ Title: Sr. VP & CFO DNN GALVANIZING CORPORATION By: /s/ Xxxxxx Xxxxxxx ------------------------ Title: Director EXHIBIT A The payments to be made by NSC for Toll Processing Services performed by Processor for NSC and its Affiliates and in satisfaction of NSC's Take or Pay Obligations shall be calculated as follows.

• If there are any Take or Pay Obligations pertaining to such Assets, Purchaser shall not assume such Take or Pay Obligations and the Take or Pay Amounts to be paid by Vendor to Purchaser shall be reduced accordingly.

• There are appended to this Agreement the following schedules pertaining to the following matters: Schedule "A" - Lands - Petroleum and Natural Gas Rights Schedule "B" - AFE's - Facilities - Production Contracts - Rights of First Refusal - Take or Pay Obligations Xxxxx Schedule “C” - General Conveyance Schedule “D” - Officers Certificates (2) Such schedules are incorporated herein by reference as though contained in the body hereof.

• There are appended to this Agreement the following schedules pertaining to the following matters: Schedule “A” - Lands - Petroleum and Natural Gas Rights Schedule “B” - AFE’s - Facilities - Production Contracts - Take or Pay Obligations - Units Schedule “C” - Rights of First Refusal Schedule “D” - Xxxxx - Pipelines Schedule “E” - Form of general conveyance Such schedules are incorporated herein by reference as though contained in the body hereof.

More Definitions of Take or Pay Obligations

Take or Pay Obligations means all obligations of a Person to pay a specified purchase price for goods or services, whether or not delivered or accepted, which constitute take-or-pay obligations to the extent such obligations shall have been incurred in the ordinary course of business consistent with past practices as an alternative to a prepaid contract.

Take or Pay Obligations means any obligations (including the future obligations of the Company or any of its Subsidiaries under "take or pay" or similar provisions) of the Company or any of its Subsidiaries: (i) to sell or deliver, as applicable, petroleum or natural gas or related substances without being entitled in due course to receive and retain full payment therefor at the full price which would otherwise be applicable thereunder; or (ii) with respect to the handling, processing or transportation of petroleum, natural gas or related substances, to pay a fee in connection with particular tangibles or third party owned processing facilities or pipelines that exceeds the actual use by the Company or any of its Subsidiaries of, or services received at, such tangibles, facilities or pipelines.

Take or Pay Obligations means Vendor's (i) obligations to sell or deliver Petroleum Substances or any of them, the rights to which are granted, reserved or otherwise conferred pursuant to the Leases or other contracts or sale agreements applicable to the Assets , without being entitled in due course to receive and retain full payment for such Petroleum Substances ; or (ii) obligations to use transportation, pipeline or processing capacity with minimum volume commitments where any shortfalls in deliveries or use is satisfied through payment obligations.

Take or Pay Obligations means, as of a particular time, all obligations (including, without limitation, the future obligations of the Corporation and the Subsidiary under "take or pay" or similar provisions) in respect of contracts for the sale of Petroleum Substances allocable to the Petroleum and Natural Gas Rights of the Corporation and the Subsidiary at such time arising under, in respect of or related to such contracts whereby the Corporation or the Subsidiary is obligated to:

Take or Pay Obligations means obligations arising in connection with: (i) Product Sales, Marketing and Transportation Contracts or other contracts for the sale of Petroleum Substances, where payments are required to be made in lieu of or in consequence of the sellers or buyers under such contracts not making or taking delivery of Petroleum Substances, or in consideration of future deliveries of Petroleum Substances; or (ii) contracts for the handling, transportation, processing or storage of Petroleum Substances where payments are required to be made under such contracts not making or taking delivery of Petroleum Substances, or in consideration of future deliveries of Petroleum Substances; and which obligations include obligations to deliver Petroleum Substances after the Closing Date or to make such payments after the Closing Date.

Take or Pay Obligations means, as of a particular time, all obligations (including the future obligations of the Purchaser or any of its Subsidiaries or the Company or any of its Subsidiaries, as the case may be, under “take or pay” or similar provisions) in respect of contracts for the sale of Petroleum Substances allocable to the Petroleum and Natural Gas Interests of the Purchaser or any of its Subsidiaries or the Company or any of its Subsidiaries, as the case may be, at such time arising under, in respect of or related to such contracts whereby the Purchaser or any of its Subsidiaries or the Company or any of its Subsidiaries, as the case may be, is obligated to:

Take or Pay Obligations means the obligations of the Vendor under "take or pay" and similar provisions in respect of payments for natural gas and related hydrocarbons not taken by buyers under the Gas Purchase Contracts to either repay such payments or to deliver such gas or substances without full payment therefor and includes, without limitation, obligations to the successors of Alberta and Southern Gas Co Ltd. or Trans-Canada Pipelines arising from such Take or Pay provisions as of the Effective Date, as described in Schedule "B"