Tolling Fee definition
Examples of Tolling Fee in a sentence
If as a result of a reduction to the Tolling Fee or Minimum Throughput Commitment for a Contract Quarter pursuant to Section 2.2(d) of the Agreement, the Applicable Refinery Owner has overpaid its Tolling Fees for a Contract Quarter, the Applicable Refinery Owner shall receive a credit against its Tolling Fees due for the following Contract Quarter in the amount of such overpayment.
If Buyer fails to order the annual minimum volume for any Product category as set forth in Exhibit A, then Buyer will be required to pay to Supplier an amount equal to (i) each applicable unit of volume for such Product category below the applicable minimum volume threshold, multiplied by (ii) the applicable Deficiency Tolling Fee for such Product category as set forth on Exhibit A hereto (such amount, a “Volume Related Deficiency Payment”).
The Tolling Fee for each Product shall equal the Margin applicable to such Product plus the Conversion Costs applicable to such Product.
The Tolling Fee and the Monthly Reservation Fee are subject to any applicable adjustment set forth in Section 3.3 below and adjustment set forth in Section 3.6 below.
The Parties shall thereafter discuss and agree on any balancing payment that may be due from either Party to the other so that the Tolling Fee paid for supply in that calendar year is as close as practicable to the amount equal to Supplier’s Local Value Added plus the Tolling Fee Margin.