Gathering Volume Commitment Clause Samples

Gathering Volume Commitment. Shipper shall deliver to Processor a daily average of not less than 850,000 Mcf per Day of Committed Gas during each calendar year for the first five (5) years of the Initial Term (“Gathering Volume Commitment”). Subject to ARTICLE 3.3(c) and ARTICLE 3.3(d), in the event Shipper fails to deliver at least the Gathering Volume Commitment for any applicable calendar quarter, Shipper shall pay Processor an amount equal to the product of the (i) Gathering Fee, (ii) positive difference between (A) the product of the Gathering Volume Commitment and the number of days in such calendar quarter and (B) the Gathered Volume for such calendar quarter and (iii) the average Gross Heating Value of the Gathered Volume for such calendar quarter (“Gathering Volume Commitment Deficiency Payment”). Any Gathering Volume Commitment Deficiency Payment made by Shipper to Processor hereunder shall be considered liquidated damages and Processor’s sole and exclusively remedy regarding the delivery deficiency of the Gathering Volume Commitment.
View SourceView Similar (3)
Gathering Volume Commitment. Shipper shall deliver to Gatherer a quantity, in aggregate, of Committed Gas not less than 125,000 Mcf per Day as averaged for each quarter during each calendar year for the first five (5) years of the Initial Term (“Gathering Volume Commitment”). Subject to ARTICLE 3.3(b) and ARTICLE 3.3(c), in the event Shipper fails to deliver the Gathering Volume Commitment for any applicable calendar quarter, Shipper shall pay Gatherer an amount equal to the product of the (i) Gathering Fee and (ii) positive difference between the Gathering Volume Commitment and the Gathered Volume for such calendar quarter (“Gathering Volume Commitment Deficiency Payment”). Any Gathering Volume Commitment Deficiency Payment made by Shipper to Gatherer hereunder shall be considered liquidated damages and Gatherer’s sole and exclusively remedy regarding the delivery deficiency of the Gathering Volume Commitment.
View SourceView Similar (3)

Related to Gathering Volume Commitment

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • 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.

  • Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

  • Delivery Point The delivery point is the point of delivery of the Power Product to the CAISO Controlled Grid (the “Delivery Point”). Seller shall provide and convey to Buyer the Power Product from the Generating Facility at the Delivery Point. Title to and risk of loss related to the Power Product transfer from Seller to Buyer at the Delivery Point.

  • Line Outage Costs Notwithstanding anything in the ISO OATT to the contrary, the Connecting Transmission Owner may propose to recover line outage costs associated with the installation of Connecting Transmission Owner’s Attachment Facilities or System Upgrade Facilities or System Deliverability Upgrades on a case-by-case basis.