Volumetric Penalty definition

Volumetric Penalty means the Nomination that will be accepted by the Carrier from such Shipper in each of the next three months, beginning two months after the month of non-performance, that is limited to no more than the Shipper’s Actual Shipments during said month, provided that the impacted segment is in apportionment during each of the three months.
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Examples of Volumetric Penalty in a sentence

  • If the Shipper incurs a Non-Performance Penalty at one or more Delivery Points in any subsequent month during the rolling 12-month period, as defined above, all Non- Performance Penalties incurred in subsequent months will be subject to both the Financial Penalty and the Volumetric Penalty.

  • If the Shipper incurs a Non-Performance Penalty at one or more Delivery Points in any subsequent month during the rolling 12-month period, as defined above, all Non-Performance Penalties incurred in subsequent months will be subject to both the Financial Penalty and the Volumetric Penalty.

  • TAN Volumetric Penalty = Gross Standard Volume * (TAN Specification Exceedance * 0.038) Temperature: MPMS Chapter 7 For receipts into the Gibson Pipelines the temperature of Tendered Crude Petroleum shall not be more than 38°C, unless Gibson has specified other location-specific limits in writing, and shall be of sufficient temperature to enable the Tendered Crude Petroleum to flow readily to Gibson’s LACT Equipment.

  • For these CYP, the characteristics of QFT seem to be applied less consistently and are often replaced by a more restricted and targeted approach.

Related to Volumetric Penalty

  • Civil penalty means a penalty which is imposed on a credit provider by the operation of this Act and under which the debtor is not liable to pay to the credit provider an amount otherwise payable under a regulated contract.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Administrative penalty means a monetary fine imposed by the division for acts or

  • eligible penalty means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding;

  • At-risk pupil means a student having a physical, emotional, intellectual, socioeconomic, or cultural

  • Allowable emissions means the emission rate of a stationary source calculated using both the maximum rated capacity of the source, unless the source is subject to federally enforceable limits which restrict the operating rate or hours of operation, and the most stringent of the following:

  • input tax , in relation to a vendor, means—

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Input Tax Credit means the credit of input tax;