Fees and Consideration. A. As full consideration for the services provided by MEA, MarkWest shall pay the following fees and MEA shall make the following deliveries: i. MarkWest shall pay MEA a fee ("Processing Fee") equal to the Receipt Point Volume (expressed in Mcf) multiplied by $*. ii. A portion of the Processing Fee specified above, shall be adjusted annually. On an annual basis, *% of the then effective Processing Fee shall be adjusted in proportion to the percentage change, from the preceding year, in the Producer Price Index for Oil and Gas field services (SIC 138) as published by the Department of Labor ("PPI"). The adjustment of the Processing Fee shall be made effective upon each anniversary of the Effective Date and shall reflect the percentage change in the PPI as it existed for the immediately preceding January from the PPI for the second immediately preceding January. In no event will the adjustment result in a decrease of the Processing Fee from the last effective amount of the Processing Fee. iii. MEA shall redeliver the Plant Products extracted from MarkWest's Gas to the Plant Products Delivery Points for fractionation under the terms of that certain Fractionation Agreement between MEA and MarkWest, of even date herewith; and, shall redeliver the Residue Gas remaining from MarkWest's Gas to the Redelivery Point. *Denotes Confidential Portion Omitted and Filed Separately with the Commission
Appears in 2 contracts
Sources: Gas Processing Agreement (Markwest Energy Partners L P), Gas Processing Agreement (Markwest Energy Partners L P)
Fees and Consideration. A. As full consideration for the services provided by MEA, MarkWest shall pay the following fees and MEA shall make the following deliveries:
i. MarkWest shall pay MEA a fee ("Processing Fee") equal to the Receipt Point Volume Thermal Content (expressed in Mcfdekatherms) multiplied by $*.
ii. A portion of the Processing Fee specified above, shall be adjusted annually. On an annual basis, *% of the then effective Processing Fee shall be adjusted in proportion to the percentage change, from the preceding year, in the Producer Price Index for Oil and Gas field services (SIC 138) as published by the Department of Labor ("PPI"). The adjustment of the Processing Fee shall be made effective upon each anniversary of the Effective Date and shall reflect the percentage change in the PPI as it existed for the immediately preceding January from the PPI for the second immediately preceding January. In no event will the adjustment result in a decrease of the Processing Fee from the last effective amount of the Processing Fee.
iii. MEA shall redeliver the Plant Products extracted from MarkWest's Gas to the Plant Products Delivery Points for fractionation under the terms of that certain Fractionation Agreement between MEA and MarkWest, of even date herewith; and, shall redeliver the Residue Gas remaining from MarkWest's Gas to the Redelivery Point. *Denotes Confidential Portion Omitted and Filed Separately with the Commission
Appears in 1 contract
Sources: Gas Processing Agreement (Markwest Energy Partners L P)