Make Up Gas. (i) The quantity of Gas equal to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Quantity arose. (ii) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of: (A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished. (iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of: (A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and (B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 8 contracts
Sources: Gas Sale and Purchase Agreement, Gas Sale and Purchase Agreement, Gas Sale and Purchase Agreement
Make Up Gas. (i) The quantity In the event, the Buyer has made payment for Monthly Deficiency Payment to the Seller against the Monthly Deficiency Quantity during any Month, then subject to availability of Gas equal and Seller’s operational flexibilities, Seller shall make reasonable endeavor to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment shall constitute supply the Gas quantities (hereinafter referred to as “Make Up Gas” accrued ”) during the Contract Quarter in which such Quarterly Deficiency Quantity arosePeriod.
(ii) If Buyer has accrued a right will be entitled to offtake Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once only after the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up offtaken Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the equal to MGO during such Month and provided Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity has made full payment of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit Monthly Deficiency Payment for such Make Up Gas shall be applied shall be accrued during the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguishedearlier Months.
(iii) In respect of any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at delivered by the Gas Price applicable when Seller to the Make Up Gas is takenBuyer during any Month, and the Seller shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, issue an invoice at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal Month to the Buyer for the product of (a) aggregate quantity of Make Up Gas taken during that Contract Quarter multiplied delivered by the lower of:
Seller and (Ab) the Weighted Average Gas Monthly Contract Price for and any applicable Taxes (such Contract Quarter during which amount hereinafter referred as Make Up Gas is delivered; and
Invoice). Seller shall also subsequently issue a credit note to Buyer for the amount equivalent (B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the such amount hereinafter referred as Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iiiCredit) shall be applied against amounts due from Buyer under the first invoice to lower of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such (a) positive difference of aggregate of Monthly Deficiency Payment less aggregate of Make Up Gas deliveredCredit, Buyer shall have no rights to any amount previously paid if any, availed in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the past or (b) Make Up Gas quantities supplied by the Seller multiplied by Weighted Average Monthly Contract Price. The Buyer shall pay the balance amount, which shall be equal to amount invoiced under Make Up Gas Credit. Seller shall issue credit note for the gas taken under Make Up Gas till the Monthly Deficiency Payment is deliveredsetoff and reduced to zero.
(iv) Any Make Up Gas not taken by the Buyer during the Contract Period shall have zero residual value and the Seller shall not be required to deliver outstanding Make Up Gas.
Appears in 3 contracts
Sources: Gas Sales Contract, Gas Sales Contract, Gas Sales Contract
Make Up Gas. (i) The quantity In the event, the Buyer has made payment for Monthly Deficiency Payment to the Seller against the Monthly Deficiency Quantity during any Month, then subject to availability of Gas equal and Seller’s operational flexibilities, Seller shall make reasonable endeavour to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment shall constitute supply the Gas quantities (herein after referred to as “Make Up Gas” accrued ”) during the Contract Quarter in which such Quarterly Deficiency Quantity arosePeriod.
(ii) If Buyer has accrued a right will be entitled to offtake Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once only after the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up offtaken Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the equal to MGO during such Month and provided Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity has made full payment of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit Monthly Deficiency Payment for such Make Up Gas shall be applied shall be accrued during the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguishedearlier Months.
(iii) In respect of any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at delivered by the Gas Price applicable when Seller to the Make Up Gas is takenBuyer during any Month, and the Seller shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, issue an invoice at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal Month to the Buyer for the product of (a) aggregate quantity of Make Up Gas taken during that Contract Quarter multiplied delivered by the lower of:
Seller and (A) the b)the Weighted Average Gas Monthly Contract Price for and any applicable Taxes (such Contract Quarter during which amount hereinafter referred as Make Up Gas is delivered; and
Invoice). Seller shall also subsequently issue a credit note to Buyer for the amount equivalent (B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the such amount hereinafter referred as Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iiiCredit) shall be applied against amounts due from Buyer under the first invoice to lower of
(a) positive difference of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such aggregate of Monthly Deficiency Payment less aggregate of Make Up Gas deliveredCredit, Buyer shall have no rights to any amount previously paid if any, availed in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the past or (b) Make Up Gas quantities supplied by the Seller multiplied by Weighted Average Monthly Contract Price. The Buyer shall pay the balance amount, which shall be equal to amount invoiced under Make Up Gas Invoice as per this sub Clause (iii) reduced by amount equivalent to Make Up Gas Credit. Seller shall issue credit note for the gas taken under Make Up Gas till the Monthly Deficiency Payment is deliveredsetoff and reduced to zero.
(iv) Any Make Up Gas not taken by the Buyer during the Contract Period shall have zero residual value and the Seller shall not be required to deliver outstanding Make Up Gas.
Appears in 3 contracts
Sources: Gas Sales Contract, Gas Sales Contract, Gas Sales Contract
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ Buyer has paid a Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii9(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d9(d), Sellers Seller shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇Buyer’s right to such Make Up Gas is extinguished.
(iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii9(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 2 contracts
Sources: Gas Sale and Purchase Agreement, Gas Sale and Purchase Agreement
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii9(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d9(d), Sellers Seller shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished.
(iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer ▇▇▇▇▇ shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii9(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sale and Purchase Agreement
Make Up Gas. (ia) The If the Purchaser has paid for a quantity not taken in a Month ("the Debit Month") the Purchaser may in any subsequent Month ("Credit Months") after it has taken the Monthly Minimum Quantity as reduced in accordance with clause 3.21(b) for the relevant Month take free of charge except for payment of the difference if any in the Contract Price in the relevant Credit Month and Debit Month a quantity of Gas equal (hereinafter called "Make-up Gas") up to the quantity so paid for in the Debit Month PROVIDED always that Make-up Gas in respect of any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment one Debit Month shall constitute “Make Up Gas” accrued during the Contract Quarter not be taken before available balances in which such Quarterly Deficiency Quantity aroseall previous Debit Months have been made taken.
(iib) If Buyer has accrued Notwithstanding clause 3.10 but subject to clauses 10.20 and 10.30, this Agreement shall for purposes of this clause remain on foot beyond 25 years for a right period of not more than 5 years but not beyond delivery of the Dedicated Quantity, until such time as the Purchaser shall have taken delivery of all Make-up Gas to Make Up Gas which it is entitled, and where (but for this sub- clause) this Agreement would otherwise be at an end paragraph (a) shall apply on the basis that the Purchaser shall in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the Buyer is Month be entitled to take Make Up Make-up Gas notwithstanding that no Minimum Monthly Quantity applies for the Month, PROVIDED ALWAYS that the Purchaser's rights under this sub-clause shall be suspended for any period during which natural gas from the Gas Field is not being supplied either to the Purchaser (pursuant to a renewal or replacement agreement) or any other party but the period of 5 years referred to in this paragraph (b) shall be extended by the period of any such suspension.
(c) To the extent, if any, to which the Contract Price in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of Credit Month is to be taken into account under this clause then such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied Price shall be the same order price applicable in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability that Month for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Probable Gas, ▇▇▇▇▇’s right or which would have been applicable in that Month if the differential prices for Probably Gas and Excess Gas continued to such Make Up Gas is extinguishedapply after Contract Year 21.
(iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Mereenie Gas Purchase Agreement (Magellan Petroleum Corp /De/)
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ Buyer has paid a Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇Buyer’s right to such Make Up Gas is extinguished.
(iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sale and Purchase Agreement
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Monthly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Monthly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter Month in which such Quarterly Monthly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract QuarterMonth, then in any subsequent Contract QuarterMonth, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract QuarterMonth, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract QuarterMonth, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract QuarterMonth; and (B) the difference between the Quarterly Monthly Allocated Quantity and the Take or Pay Quantity for such Contract QuarterMonth. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d), Sellers shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished.
(iii) In any Contract QuarterMonth, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract QuarterMonth, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter Month multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter Month during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Monthly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter Month or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Monthly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sale and Purchase Agreement
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any subsequent Contract Quarter, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract Quarter, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii9(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract Quarter, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarter. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d9(d), Sellers Seller shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished.
(iii) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii9(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sale and Purchase Agreement
Make Up Gas. (ia) The quantity of Gas equal to any Quarterly Deficiency Shortlifted Quantity for which ▇▇▇▇▇ the QMGO Charges has been computed and paid a Quarterly Deficiency Payment by the Buyer shall constitute “Make Up Gas” accrued during the Contract Quarter in which such Quarterly Deficiency Shortlifted Quantity arose.
(iib) If Buyer has accrued a right to Make Up Gas in any Contract Quarter, then in any the subsequent Contract QuarterQuarters, once the Buyer has first taken the Take or Pay Quantity for such subsequent the relevant Contract Quarter, Buyer shall shall, subject to availability of Gas, have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay QuantityQuantity for the relevant Contract Quarter, calculated in accordance with Clause 10(c)(iii10.3 (c) below. If Provided however, the Buyer is entitled Buyer’s right to take receive the Make Up Gas in a quantities shall subsist only for 4 (four) subsequent Contract QuarterQuarters and if the Buyer fails to nominate the Make Up gas within such time period, the quantity of right over such Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract Quarter; and (B) the difference between the Quarterly Allocated Quantity and the Take or Pay Quantity for such Contract Quarterwill expire. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d)10.4, Sellers Seller shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished.
(iiic) In any Contract Quarter, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts (including Tax) payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract Quarter, Buyer shall receive from the Seller a credit for an amount equal to the Make Up Gas taken during that Contract Quarter multiplied by the lower of:
(Ai) the Weighted Average Gas Price for such Contract Quarter during which Make Up Gas is delivered; and
(Bii) the Weighted Average Gas Price previously paid in respect of the Contract Quarter in which the payment was made pursuant to the Quarterly Deficiency Shortlifted Quantity and that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii10.3 (c) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter or, if in excess thereof, against subsequent invoicessubsequentinvoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Deficiency Shortlifted Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sales Agreement
Make Up Gas. (i) The quantity of Gas equal to any Quarterly Monthly Deficiency Quantity for which ▇▇▇▇▇ has paid a Quarterly Monthly Deficiency Payment shall constitute “Make Up Gas” accrued during the Contract Quarter Month in which such Quarterly Monthly Deficiency Quantity arose.
(ii) If Buyer has accrued a right to Make Up Gas in any Contract QuarterMonth, then in any subsequent Contract QuarterMonth, once the Buyer has first taken the Take or Pay Quantity for such subsequent Contract QuarterMonth, Buyer shall have the right to receive a credit for all Make Up Gas quantities taken above the Take or Pay Quantity, calculated in accordance with Clause 10(c)(iii9(c)(iii) below. If the Buyer is entitled to take Make Up Gas in a Contract QuarterMonth, the quantity of Make Up Gas that Buyer can take shall equal the lower of:
(A) the outstanding balance of Make Up Gas at the beginning of such Contract QuarterMonth; and (B) the difference between the Quarterly Monthly Allocated Quantity and the Take or Pay Quantity for such Contract QuarterMonth. The order in which the credit for such Make Up Gas shall be applied shall be the same order in which the Make Up Gas was accrued. Except as expressly provided in Clause 10(d9(d), Sellers Seller shall have no liability for failure to supply Make Up Gas. Once the Buyer has received a credit for any quantity of Make Up Gas, ▇▇▇▇▇’s right to such Make Up Gas is extinguished.
(iii) In any Contract QuarterMonth, Buyer shall pay for all quantities of Gas taken as Make Up Gas at the Gas Price applicable when the Make Up Gas is taken, and shall pay all other amounts payable under this Agreement in respect of Gas deliveries, provided that, at the end of such Contract QuarterMonth, Buyer shall receive a credit for an amount equal to the Make Up Gas taken during that Contract Quarter Month multiplied by the lower of:
(A) the Weighted Average Gas Price for such Contract Quarter Month during which Make Up Gas is delivered; and
(B) the Weighted Average Gas Price previously paid in respect of the Quarterly Monthly Deficiency Quantity that gave rise to the Make Up Gas right. The credit received by Buyer under this Clause 10(c)(iii9(c)(iii) shall be applied against amounts due from Buyer under the first invoice of the subsequent Contract Quarter Month or, if in excess thereof, against subsequent invoices. For such Make Up Gas delivered, Buyer shall have no rights to any amount previously paid in respect of the Quarterly Monthly Deficiency Quantity above the Gas Price prevailing at the time the Make Up Gas is delivered.
Appears in 1 contract
Sources: Gas Sale and Purchase Agreement