Contract Quantity at PSV Clause Samples
The 'Contract Quantity at PSV' clause defines the specific amount of product, such as natural gas, that must be delivered or received at the Point of Sale and Verification (PSV). This clause typically outlines the agreed-upon volume, the measurement standards to be used, and the timeframe for delivery at the PSV, ensuring both parties are clear on their obligations. By specifying these details, the clause helps prevent disputes over delivery shortfalls or excesses, thereby ensuring clarity and certainty in the transaction.
Contract Quantity at PSV. During each Day of the Total Supply Period at PSV the Contract Quantity at PSV (“Contract Quantity PSV” or “CQ-PSV”) is the quantity, expressed in MWh(25°C)/Day and rounded to three (3) decimal place, nominated in accordance with Article 4.3 (Nomination), that shall comply with the conditions herebelow.
4.2.1 CQ-PSV daily limits Except in the cases provided for under Article 5 (Force Majeure and consequences at the Other Delivery Point), the value of CQ-PSV shall not be greater than Max CQ-PSV and shall not be lower than Min CQ-PSV, where for the purposes of this Contract:
Contract Quantity at PSV. 4.2.1 Except in the cases provided for under Article 5 (Force Majeure and consequences at the Other Delivery Point), during each Day of the Total Supply Period at PSV the Contract Quantity at PSV (“Contract Quantity PSV” or “CQ-PSV”) is the quantity, expressed in MWh(25°C)/Day, equal to the corresponding DCQ-DPA, nominated for such Day in accordance with Article 3.2 (Contract Quantity at DPA) and Article 3.3 (Nomination):
4.2.2 Rounding of the quantities The CQ-PSV calculated in Article 4.2.1 of this Article 4.2 shall be rounded to three (3) decimal place, where a figure of five (5) or more in the 4th decimal place shall cause a rounding up of that 3rd decimal place.
Contract Quantity at PSV. 4.2.1 Except in the cases provided for under Article 5 (Force Majeure and consequences at the Other Delivery Point), during each Day of the Total Supply Period at PSV the Contract Quantity at PSV (“Contract Quantity PSV” or “CQ-PSV”) is the quantity, expressed in GJ(15°C)/Day, calculated as the corresponding DCQ-DPA, nominated for such Day in accordance with Article 3.2 (Contract Quantity at DPA) and Article 3.3 (Nomination), times the conversion factor CF times three decimal six (3.6): CQ-PSV = DCQ-DPA * CF * 3.6 (expressed in GJ(15°C)/Day).
4.2.2 Rounding of the quantities The CQ-PSV calculated in Article 4.2.1 of this Article 4.2 shall be rounded to one (1) decimal place, where a figure of five (5) or more in the 2nd decimal place shall cause a rounding up of that 1st decimal place.