Minimum Volume Adjustments Clause Samples

Minimum Volume Adjustments. If for any reason ALON shall not utilize a Refined Product Pipeline or a Refined Product Terminal for a period of 60 consecutive days and the Minimum Volume Commitment applicable to such Refined Product Pipeline or Refined Product Terminal shall not otherwise be excused pursuant to this Agreement with respect thereto, then from and after such 60th day (and only during such non-utilization), the minimum volume commitment then applicable to such Refined Product Pipeline or Refined Product Terminal shall be discounted by the rate set forth for such pipeline or terminal in the column labeled “Section 2(a)(v) 60 Day Discount Rate” on Exhibit A. At such time as the Refined Product Pipeline or Refined Product Terminal is returned to use, then the discount rate shall no longer apply. In the event the period of non-utilization described in the foregoing sentence shall exceed 180 days or if ALON shall notify HEP that such non-utilization shall be permanent and such non-utilization is not otherwise excused pursuant to this Agreement, then, from and after such 180th day or from and after such notice, whichever is earlier (and only during such non-utilization), the minimum volume commitment then applicable to such Refined Product Pipeline or Refined Product Terminal (without giving effect to any discount pursuant to the foregoing sentence) shall be discounted by the rate set forth for such pipeline or terminal in the column labeled “Section 2(a)(v) 180 Day Discount Rate” on Exhibit A. At such time as the Refined Product Pipeline or Refined Product Terminal is returned to use, then the discount rate shall no longer apply.
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Related to Minimum Volume Adjustments

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Wage Adjustments If the funding available to be used for wages provided by Government in any fiscal year increases, the Employer shall pass on such increases to employees consistent with the funding increase adjusted for any additional deficits that this contract incurs. This will be the case whether the funding increase is for the entire year or simply a portion of it, and wage increases shall be effective upon the effective date of the increased funding. Should there be no increase provided by Government, wages will be maintained at their present levels. Should there be a decrease in funding, then the Employer will maintain wages at present levels. The Employer will promptly provide the Union with any information it receives from the Government regarding funding available for wages, and the parties will meet as required to work towards cooperative resolution of any issues arising from this Government information.

  • Rounding of Calculations; Minimum Adjustments All calculations under this Section 13 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one- hundredth (1/100th) of a share, as the case may be. Any provision of this Section 13 to the contrary notwithstanding, no adjustment in the Exercise Price or the number of Shares into which this Warrant is exercisable shall be made if the amount of such adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect thereto shall be made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Royalty Adjustments The following adjustments shall be made, on a Licensed Product-by-Licensed Product and country-by-country basis, to the royalties payable pursuant to this Section 5.5: