Crude Balancing Sample Clauses

Crude Balancing. The volumes sold and purchased by the Parties pursuant to a Transaction are intended to be equal. If the actual volume shipped differs from the number of NYMEX contracts sold/bought under an EFP by an amount greater than 1,000 Barrels, then the Parties will balance the difference to the nearest 500 Barrels by posting (within the current month’s NYMEX contract) an additional EFP for the amount. If the current month’s NYMEX contract has expired at the time that the differing delivery occurs, the Parties will post the additional EFP within the next nearby month’s NYMEX contract and the spread shall be a fixed number based on the difference between the first month’s settlement price and second month’s settlement price on the date of Transaction or as specifically agreed to by both Parties in the pricing provision of the Confirmation.
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Crude Balancing. If this Agreement is part of an EFP Transaction, the volumes sold and purchased by the Parties pursuant to this Agreement are intended to be equal. If the actual volume shipped differs from the number of NYMEX contracts sold/bought under an EFP by an amount greater than 1,000 Barrels, then the Parties will balance the difference to the nearest 1,000 by posting (within the current month’s NYMEX contract) an additional EFP for the amount. If the current month’s NYMEX contract has expired at the time that the differing delivery occurs, the parties will post the additional EFP within the next nearby month’s NYMEX contract and the spread shall be a fixed number based on the difference between the first month’s settlement price and the second month’s settlement price on the Trade Date or a specifically agreed to by both Parties in the pricing provision of the Confirmation.
Sample 1

Related to Crude Balancing

  • Receipt Points The Points of Receipt are listed in Appendix 2.

  • Imbalances The parties hereto recognize that with respect to Section 2.01, on any Day, receipts of gas by Union and deliveries of gas by Union may not always be exactly equal, but each party shall cooperate with the other in order to balance as nearly as possible the quantities transacted on a daily basis, and any imbalances arising shall be allocated to the Facilitating Agreements and shall be subject to the respective terms and charges contained therein, and shall be resolved in a timely manner.

  • Balancing Full load hours for combined assignments other than those specified above shall be determined by the following formula: Hours of assignment, Type 1 + Hours of assignment, Type 2 + Hours of assignment, Type 3 = 1 Full load for assignment Full load for assignment Full load for assignment Type 1 Type 2 Type 3 Underload shall be balanced within the following three (3) regular semesters if possible. The faculty member may, at the member’s option, use load from summer sessions to balance an underload. To balance the underload, a unit member may be assigned to no more than two colleges, unless the unit member agrees to other arrangements. The maximum required assignment shall be 1.25 FTE per semester until the underload is eliminated.

  • Delivery Points ‌ Project water made available to the Agency pursuant to Article 6 shall be delivered to the Agency by the State at the delivery structures established in accordance with Article 10.

  • Participating TO’s Interconnection Facilities The Participating TO shall design, procure, construct, install, own and/or control the Participating TO’s Interconnection Facilities described in Appendix A at the sole expense of the Interconnection Customer. Unless the Participating TO elects to fund the capital for the Participating TO’s Interconnection Facilities, they shall be solely funded by the Interconnection Customer.

  • Scheduled Outages (a) Commencing at least sixty (60) days before Initial Synchronization and throughout the Delivery Term, Seller shall, no later than January 1, April 1, July 1 and October 1 of each year, submit to SCE, using the Web Client, Seller’s schedule of proposed planned outages (“Outage Schedule”) for the subsequent twenty-four month period.

  • Delivery Point (a) All Energy shall be Delivered hereunder by Seller to Buyer at the Delivery Point. Seller shall be responsible for the costs of delivering its Energy to the Delivery Point consistent with all standards and requirements set forth by the FERC, ISO-NE, the Interconnecting Utility and any other applicable Governmental Entity and any applicable tariff.

  • Gas If Customer has selected a Gas Fixed Rate, Customer’s Price will be based on the Fixed Rate(s), plus the Administration Charge, set forth in the Application, which includes RITERATE ENERGY’s compressor fuel and transportation charges, administrative and transaction costs and the Gas Balancing Amount and any Regulatory Charges (defined below).

  • Forced Outages During any forced outage, the NYISO or Connecting Transmission Owner may suspend interconnection service to the Interconnection Customer to effect immediate repairs on the New York State Transmission System or the Distribution System. The NYISO shall use Reasonable Efforts to provide the Interconnection Customer with prior notice. If prior notice is not given, the NYISO shall, upon request, provide the Interconnection Customer written documentation after the fact explaining the circumstances of the disconnection.

  • Gas Imbalances As of the Closing Date, except as set forth on Schedule 7.24 or on the most recent certificate delivered pursuant to Section 8.07(c), on a net basis there are no gas imbalances, take or pay or other prepayments with respect to any of the Obligors’ Oil and Gas Properties which would require any such Obligors to deliver, in the aggregate, five percent (5%) or more of the monthly production of Hydrocarbons produced from their Oil and Gas Properties at some future time without then or thereafter receiving fall payment therefor.

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