T&D Obligation definition

T&D Obligation means the total transportation revenue, including revenue from Barrels shipped under Carrier’s FERC tariff No.1.0.0, measured in dollars that an Incentive Shipper has agreed to pay on a Monthly basis for transportation service under this tariff and pursuant to a TSA.
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T&D Obligation means the volume of Natural Gas Liquids (measured in Barrels) that an Incentive Shipper has agreed to tender each Day for transportation service under this tariff and pursuant to a TSA.
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T&D Obligation means the volume of NGLs that a Contract Shipper has agreed to tendereach day for transportation service on Carrier’s pipeline pursuant to a TSA.
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Examples of T&D Obligation in a sentence

  • A tender of Natural Gas Liquids to Carrier by an Incentive Shipper that does not exceed such Incentive Shipper’s T&D Obligation shall not be subject to prorationing pursuant to Carrier’s Proration Policy except when an event of Force Majeure triggers the applicable of Section 6 below.

  • AMP Administration, as further described in the T&D Obligation provisions (Section 4 of the final rule), includes specific program design features, customer eligibility certification, benefit determination, coordination with EMT and other administrative duties necessary to carry out the intent of the Act.

  • The rate/Barrel payable by Incentive Shipper for the transportation of any Natural Gas Liquids on Carrier in excess of Incentive Shipper’s T&D Obligation shall be the Base Transportation Rate.

  • Each Incentive Shipper will be allocated capacity equal to the lesser of its T&D Obligation or its nominated volume for the Month (the “Incentive Nomination Limit”).

  • The tender of Natural Gas Liquids to Carrier by a TSA Shipper that does not exceed such TSA Shipper’s T&D Obligation shall not be subject to prorationing except (i) as required to give effect to the nominations of Incentive Shippers under Item No. 100 above or (ii) when an event of Force Majeure limits pipeline capacity to less than the aggregate T&D obligations of all Incentive Shippers and TSA Shippers.

  • Capacity will initially be divided among Incentive Shippers as a class, TSA Shippers as a class, Regular Shippers as a class, and New Shippers as a class; thereafter capacity will be divided among the various Shippers comprising each such class in accordance with the provisions of paragraphs 2.3 through2.6. A Contract Shipper that nominates more than its T&D Obligation will be allocated capacity as both a Contract Shipper and as a Regular Shipper.

  • During the last five (5) Contact Years the amount payable by Shipper for the Service shall equal the Incentive Rate times the volume of Natural Gas Liquids actually tendered by Incentive Shipper at a Receipt Point during a Month; provided that, transportation service as to Natural Gas Liquids tendered in excess of the T&D Obligation times the number of Days in such Month shall be charged the Base Transportation Rate.

Related to T&D Obligation

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Service obligation means the contractual obligation undertaken by an individual under section 2705 or section 2707 to provide health care services for a determinable time period at a site designated by the department.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

  • Guaranty Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person with respect to any Indebtedness of another Person, if the purpose or intent of such Person in incurring the Guaranty Obligation is to provide assurance to the obligee of such Indebtedness that such Indebtedness will be paid or discharged, that any agreement relating thereto will be complied with, or that any holder of such Indebtedness will be protected (in whole or in part) against loss in respect thereof, including (a) the direct or indirect guaranty, endorsement (other than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of Indebtedness of another Person and (b) any liability of such Person for Indebtedness of another Person through any agreement (contingent or otherwise) (i) to purchase, repurchase or otherwise acquire such Indebtedness or any security therefor or to provide funds for the payment or discharge of such Indebtedness (whether in the form of a loan, advance, stock purchase, capital contribution or otherwise), (ii) to maintain the solvency or any balance sheet item, level of income or financial condition of another Person, (iii) to make take-or-pay or similar payments, if required, regardless of non-performance by any other party or parties to an agreement, (iv) to purchase, sell or lease (as lessor or lessee) property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Indebtedness or to assure the holder of such Indebtedness against loss or (v) to supply funds to, or in any other manner invest in, such other Person (including to pay for property or services irrespective of whether such property is received or such services are rendered), if in the case of any agreement described under clause (b)(i), (ii), (iii), (iv) or (v) above the primary purpose or intent thereof is to provide assurance that Indebtedness of another Person will be paid or discharged, that any agreement relating thereto will be complied with or that any holder of such Indebtedness will be protected (in whole or in part) against loss in respect thereof. The amount of any Guaranty Obligation shall be equal to the amount of the Indebtedness so guaranteed or otherwise supported.

  • Excluded Swap Obligation means, with respect to any Guarantor, (a) any Swap Obligation if, and to the extent that, all or a portion of the Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (i) by virtue of such Guarantor’s failure to constitute an “eligible contract participant,” as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 11.12 and any other applicable agreement for the benefit of such Guarantor and any and all applicable guarantees of such Guarantor’s Swap Obligations by other Loan Parties), at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Guarantor is a “financial entity,” as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and the Approved Counterparty applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the Swap for which such guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

  • Swap Obligation means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.