Take or Pay Quantity definition

Take or Pay Quantity means for each Contract Quarter, ninety percent (90%) of the Quarterly Offtake Quantity for such Contract Quarter less the sum of the following quantities for each Day during such Contract Quarter (but without double counting any of the following quantities):
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Take or Pay Quantity means the quantity of e-Bid RLNG calculated in accordance with Article 6.1.
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Take or Pay Quantity or TOP Quantity” is defined in Clause 4.3 (b).
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Examples of Take or Pay Quantity in a sentence

  • 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.

  • Upon and for the duration of such suspension, Seller shall be relieved of its 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 9 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 Contract Year.

  • Buyer’s Take or Pay Quantity shall be reduced proportionally, and the DCQ for such Day shall be deemed to be the actual quantity delivered by Seller.

  • During the Extended Contract Period, the provisions of this Agreement (including, inter alia, the provisions of Article 9) shall continue to apply, except that any Carry Forward Aggregate which has accrued under this Agreement prior to the commencement of the Extended Contract Period shall be cancelled and shall not serve to reduce the Annual Take or Pay Quantity attributable to the Extended Contract Period.

  • As long as there are Deferred Quantities, the quantities taken by Buyer in excess of the Take or Pay Quantity shall be automatically considered as recuperation of Deferred Quantities.

  • During the Extended Contract Period, the provisions of this Agreement (including, inter alia, the provisions of ‎Article 9) shall continue to apply, except that any Carry Forward Aggregate which has accrued under this Agreement prior to the commencement of the Extended Contract Period shall be cancelled and shall not serve to reduce the Annual Take or Pay Quantity attributable to the Extended Contract Period.

  • The Investors shall have the right and obligation to purchase that monthly tonnage of Seaborne Product (Take or Pay Quantity).

  • If, as of the [***] hour after the end of the Arrival Window, the Approved LNG Ship has not tendered NOR, and the Seller Group is unable to reschedule loading of the relevant Cargo, the Scheduled Loading Quantity that the Buyer failed to take (for reasons other than those in Clauses 7.4.1 (A) to (F) (inclusive)) shall be deemed to be a Cargo Take or Pay Quantity in accordance with Clause ‎7.4.1.

  • In the event that Airgas fails to purchase sufficient Shortfall Make-Up Volume to offxxx xxe shortfall relative to the Take or Pay Quantity during the Shortfall Year, then in such event, Airgas shall pay to BOC, an amount equal to (i) the shortfall versus the Take or Pay Quantity not satisfied during the [**], multiplied by (ii) the applicable price for Product during the Shortfall Year within thirty (30) days after the conclusion of the [**].

  • If the Take or Pay Quantity is not satisfied, Airgas shall be given a waiver of the requirements of Paragraph 4 for as long as such BOC Force Majeure shall exist.


More Definitions of Take or Pay Quantity

Take or Pay Quantity means the Minimum Monthly Quantity adjusted by deducting all amounts of Contract Gas equal to any amount, up to the MDQ for each Day, that the Sellers have failed to make available to Buyer for nomination (whether due to Force Majeure events or not) or has failed to deliver to the Buyer in accordance with the Daily Nomination, that the Buyer is obliged to pay for in a Month whether or not it has nominated such quantity for delivery;
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Take or Pay Quantity means for each Contract Month, ninety percent (90%) of the Monthly Offtake Quantity for such Contract Month less the sum of the following quantities for each Day during such Contract Month (but without double counting any of the following quantities):(a) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day and that Buyer was prevented from purchasing and taking by reason of Force Majeure; plus(b) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day that Sellers failed to make available for delivery unless such failure was: (i) caused by Buyer’s failure to comply with the terms of this Agreement; or (ii) due to the exercise of Sellers’ right to suspend Gas deliveries pursuant to Clause 19; plus(c) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day that Buyer would have purchased and taken but which Buyer rejected in accordance with Clause 13 because it failed to meet the Specifications; plus(d) any quantity of Gas up to the DCQ for the relevant Day which a Party did not nominate or schedule due to Planned Maintenance pursuant to Clause 14. “Take or Pay Quantity” means for each Contract Quarter, ninety percent (90%) of the Quarterly Offtake Quantity for such Contract Quarter less the sum of the following quantities for each Day during such Contract Quarter (but without double counting any of the following quantities):(a) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day and that Buyer was prevented from purchasing and taking by reason of Force Majeure; plus(b) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day that Sellers failed to make available for delivery unless such failure was: (i) caused by Buyer’s failure to comply with the terms of this Agreement; or (ii) due to the exercise of Sellers’ right to suspend Gas deliveries pursuant to Clause 19; plus(c) any quantity of Gas up to the Nominated Daily Quantity for the relevant Day that Buyer would have purchased and taken but which Buyer rejected in accordance with Clause 13 because it failed to meet the Specifications; plus(d) any quantity of Gas up to the DCQ for the relevant Day which a Party did not nominate or schedule due to Planned Maintenance pursuant to Clause 14.
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Take or Pay Quantity has the meaning given to such term in Clause 10.2 (a).
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Take or Pay Quantity means the quantity determined in accordance with Clause 6.1. ----------
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Related to Take or Pay Quantity

  • Type B quantity means a quantity of radioactive material greater than a Type A quantity.

  • Required Quantity in a unit price Contract shall mean the actual quantity of any item of Work or materials which is required to be performed or furnished in order to comply with the Contract.

  • Contract Quantity means the quantity of Delivered Energy expected to be delivered by Seller during each Contract Year as set forth in the Cover Sheet.

  • Type A quantity means a quantity of radioactive material, the aggregate radioactivity of which does not exceed A1 for special form radioactive material or A2 for normal form radio- active material, where A1 and A2 are given in Appendix O or may be determined by procedures described in Appendix O.

  • Daily Quantity means the quantity of waste discharged during an operating day.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Metered Quantity means apparent power, reactive power, active power, with associated time tagging and any other quantity that may be measured by a Party’s Metering Equipment and that is reasonably required by either Party for Security reasons or revenue requirements.

  • Share Delivery Quantity For any Settlement Date, a number of Shares, as calculated by the Calculation Agent, equal to the Net Share Settlement Amount for such Settlement Date divided by the Settlement Price on the Valuation Date for such Settlement Date.

  • Volume Commitment means the volume of NGLs that a Committed Shipper has guaranteed to ship on the Pipeline pursuant to its TSA.

  • Quantity means either tonnage or volume, depending on which term is the standard in the mining industry for the type of mineral;

  • Minimum Order Quantity means the minimum number of batches of a Product to be produced during the same cycle of manufacturing as set forth in a Product Agreement on Schedule B;

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Base Capacity Demand Resource Price Decrement means, for the 2018/2019 and 2019/2020 Delivery Years, a difference between the clearing price for Base Capacity Demand Resources and Base Capacity Energy Efficiency Resources and the clearing price for Base Capacity Resources and Capacity Performance Resources, representing the cost to procure additional Base Capacity Resources or Capacity Performance Resources out of merit order when the Base Capacity Demand Resource Constraint is binding.

  • tons means the gross tonnage calculated in accordance with the tonnage measurement regulations contained in Annex I of the International Convention on Tonnage Measurement of Ships, 1969; the word “tonnage” shall be construed accordingly.

  • Normal form radioactive material means radioactive material that has not been demonstrated to qualify as special form radioactive material.

  • Scheduled Uptime means the total minutes in the reporting month less the total minutes represented by the Scheduled Downtime.

  • Scheduled Outage means the final outage plan as approved by the RPC as per the provisions of the Grid Code;

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • MDQ means the total maximum MMBtu which Company shall be obligated to receive or deliver on a firm basis on any given day on behalf of customer.

  • Maximum mass means the maximum mass stated by the vehicle manufacturer to be technically permissible (this mass may be higher than the "permissible maximum mass" laid down by the national administration).

  • Normal Minimum Generation means the lowest output level of a generating resource under normal operating conditions.

  • PRICED SCHEDULE OR QUANTITIES means the schedule duly priced.

  • reduction week means a period of seven consecutive days beginning with a Monday and ending with a Sunday;

  • Reportable quantity means one of the following:

  • Total hydrocarbons (THC) means the sum of all volatile compounds measurable by a flame ionization detector (FID).