Effect of Voluntary Interruption Commitments Sample Clauses

Effect of Voluntary Interruption Commitments. (i) To the extent that Shipper has been awarded a VIC pursuant to this Section 15.6, ▇▇▇▇▇▇▇’s right to nominate and Transporter’s obligation to schedule and transport quantities under any Service Agreement subject to a VIC on any Gas Day shall be limited: (A) for service on Transporter’s mainline facilities, to the difference between Shipper’s Transportation Demand under such Service Agreement and Shipper’s VIC Quantity applicable to Transporter’s mainline facilities on that Gas Day; (B) for service at a Receipt Point, to the difference between ▇▇▇▇▇▇▇’s MDQ under such Service Agreement and Shipper’s VIC Quantity applicable to that Receipt Point on that Gas Day; (C) for service at a Delivery Point, to the difference between ▇▇▇▇▇▇▇’s MDDO under such Service Agreement and Shipper’s VIC Quantity applicable to that Delivery Point on that Gas Day (ii) Nothing in this Section 15.6 shall limit Shipper’s right to nominate and Transporter’s obligation to schedule and transport any quantities under a Service Agreement that are not subject to a VIC on a given Gas Day. (iii) Shipper shall not be eligible whatsoever to receive any reservation charge credits pursuant to Section 15.3 or Section 15.4 of these General Terms and Conditions for any VIC Quantities. (iv) To the extent that Shipper releases capacity under a Service Agreement pursuant to Section 14 of the General Terms and Conditions of Transporter’s Tariff and some or all of the capacity under such Service Agreement is subject to a VIC on any Gas Day during the term of the capacity release: (A) The Release Notice must contain a statement that the Service Agreement under which the capacity is being released is subject to a VIC and include information regarding the VIC Quantity and applicable Gas Day(s), such that potential replacement shippers can identify the Gas Days and quantities that will be excluded from the release due to the VIC; (B) Releasor may only release that volumetric quantity of capacity under its Service Agreement that is not subject to a VIC on a specific Gas Day. Where only a portion of the capacity under a Service Agreement is subject to a VIC during any Gas Day, unless specifically stated otherwise in the “special terms and conditions” of the Release Notice, the Releasor will be deemed to have released to the Replacement Shipper the volumetric portion of the Releasor’s capacity not subject to a VIC, up to the difference between the Releasor’s Transportation Demand and the VIC Quantity appl...
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Related to Effect of Voluntary Interruption Commitments

  • Limitation of responsibility of Existing Lenders (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: (i) the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other documents; (ii) the financial condition of any Obligor; (iii) the performance and observance by any Obligor of its obligations under the Finance Documents or any other documents; or (iv) the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or any other document, and any representations or warranties implied by law are excluded. (b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it: (i) has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and (ii) will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. (c) Nothing in any Finance Document obliges an Existing Lender to: (i) accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred under this Clause 24; or (ii) support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise.

  • Voluntary Termination or Reduction of Commitments The Company may, upon not less than five Business Days' prior notice to the Agents, terminate the Commitments, or permanently reduce the Commitments by an aggregate minimum amount of $100,000 or any multiple of $50,000 in excess thereof; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the then-outstanding principal amount of the Loans would exceed the amount of the combined Commitments then in effect. Once reduced in accordance with this Section, the Commitments may not be increased. Any reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. All accrued commitment fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $5,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction. Subject to the foregoing, any reduction of the Commitments to an amount below $500,000,000 shall also result in a reduction of the LC Commitment Amount to the extent of such deficit (and if such reduction would cause the LC Commitment Amount to be less than the aggregate Fronting Commitments, with automatic reductions in the amount of each Fronting Commitment ratably in proportion to the amount of such reduction of the LC Commitment Amount unless, in the case of any LC Issuing Bank, such LC Issuing Bank consents otherwise). Each such notice of termination or reduction shall be irrevocable; provided, however, that a notice of termination delivered pursuant to this Section 2.08 may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the effective date specified in the notice of termination) if such condition is not satisfied. (b) The Borrower may terminate the unused amount of the Commitment of any Lender that is a Defaulting Lender upon not less than three Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.21(a)(ii) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent, any LC Issuing Bank or any Lender may have against such Defaulting Lender. (c) The Commitment of each Lender shall automatically terminate on the Termination Date applicable to such Lender as provided in Section 2.06. (d) Once terminated, a Commitment or any portion thereof may not be reinstated.