Volume Commitments has the meaning set forth in Section 7.6(g).
Volume Commitments means, collectively, binding commitments by Committed Shippers pursuant to transportation services agreements with CCPS to ship minimum volumes of crude petroleum on the Spearhead Pipeline.
Volume Commitments has the meaning set forth in Section 11.2(a).
Examples of Volume Commitments in a sentence
As further provided in the Open Season Procedures, Shipper has the right to withdraw its offer contained in this Agreement if the sponsor of the “open season” does not receive aggregate Volume Commitments of at least 50,000 bpd (not taking into account any commitments for increases in the initial bpd by any shipper) by the timeframe set in the Open Season Procedures, provided Shipper exercises such right within the timeframe set forth in the Open Season Procedures.
Notwithstanding anything in this Agreement to the contrary, the maximum acceptable aggregate Volume Commitments at any given time shall not exceed ninety percent (90%) of the Capacity of the Spearhead Pipeline.