Throughput and Deficiency Agreement definition

Throughput and Deficiency Agreement means a written agreement by which Shipper has committed to tender for shipment by Carrier a minimum volume of Crude Petroleum during successive twelve- Accounting Month periods, failing which Shipper shall remit to Carrier a deficiency payment in respect of the shortfall.

Throughput and Deficiency Agreement means an effective agreement executed between Carrier and a Incentive Shipper, under which the Incentive Shipper commits to ship, or otherwise pay for, transportation of a minimum volume of Products for a specified period of time.

Throughput and Deficiency Agreement means an effective Throughput and Deficiency Agreement executed between Carrier and an Incentive Shipper for the provision of service under this Tariff.

Examples of Throughput and Deficiency Agreement in a sentence

• Subject to Section 2.5, all rights and obligations of the Seller under the Contracts that relate exclusively to ownership or operation of the Purchased Assets or the Business, including the Gas Oil Exchange Agreement, the Pipeline Throughput and Deficiency Agreement, the non-branded wholesale product sales Contracts and each other Material Contract identified on Schedule 4.1.4(a), (collectively, the “Assigned Contracts”), but excluding those that are Excluded Contracts.

• OwnershipUnder the Limited Liability Company Agreement and the First Stage Throughput and Deficiency Agreement (T&D), as amended, each owner, as listed below, is obligated in accordance with its ownership percentage to ship oil through LOOP’s midstream crude oil infrastructure in quantities sufficient for LOOP to pay certain of its expenses and obligations, including LOOP’s long-term debt secured by the T&D, or to make cash payments to LOOP for which they receive credit for future throughput.

• This Crude Oil Throughput and Deficiency Agreement (this “Agreement”), dated as of May 28, 2014 (the “Effective Date”), is made by and between JBBR Pipeline LLC, a Delaware limited liability company (“Transporter”), and ExxonMobil Oil Corporation, a New York corporation (“Customer”).

• The Throughput and Deficiency Agreement allows Alon to maintain crude oil transportation rights on the pipelines from the Gulf Coast and from Midland to the Big Spring refinery.

• Cortez Pipeline Company Debt Pursuant to a certain Throughput and Deficiency Agreement, the partners of Cortez Pipeline Company (Kinder Morgan CO2 Company, L.P. - 50% partner; a subsidiary of Exxon Mobil Corporation - 37% partner; and Cortez Vickers Pipeline Company - 13% partner) are required, on a several, percentage ownership basis, to contribute capital to Cortez Pipeline Company in the event of a cash deficiency.

More Definitions of Throughput and Deficiency Agreement

Throughput and Deficiency Agreement means an effective agreement executed between Carrier and a Shipper, under which the Shipper commits to ship, or otherwise pay for not shipping, a minimum volume of Products for a specified period of time.

Throughput and Deficiency Agreement means an agreement between Shipper and Carrier to make a minimum volume commitment on a take or pay basis for an average of at least 25,000 BPD and a term of at least ten (10) years.

Throughput and Deficiency Agreement means an effective Throughput and Deficiency Agreement executed between the Carrier and a Shipper under which the Shipper commits to ship under this Tariff for a period of no less than 3 (three) years a minimum volume, or nonetheless pay for such volume,

Throughput and Deficiency Agreement means an effective agreement executed between Carrier and a Committed Shipper, under which the Committed Shipper commits to ship, or otherwise pay for, transportation of a minimum volume of Products for a specified period of time.

Throughput and Deficiency Agreement means an effective agreement executed between Carrier and a Priority Shipper during the Open Season, under which the Priority Shipper commits to ship, or otherwise pay for, transportation of a minimum volume of Products for a specified period of time on the System.

Throughput and Deficiency Agreement means an effective take or pay agreement for the provision of service under this Tariff.

Throughput and Deficiency Agreement or “TDA” as herein used means an effective throughput and deficiency agreement, transportation services agreement, throughput agreement, transport agreement or equivalent agreement in each case executed by Carrier and a Shipper, pursuant to which a Committed Shipper commits to ship a certain volume of barrels on Carrier’s System each month or pay a deficiency payment to Carrier, and the Committed Shipper will receive priority service, deemed history or other prorationing rights that are preferential to those of a Regular Shipper (that is not a Committed Shipper) in a segment or segments of the system.