Monthly Contract Quantity Clause Samples
The Monthly Contract Quantity clause defines the specific amount of goods or services that a party is obligated to deliver or receive each month under the contract. Typically, this clause sets a fixed or variable quantity for each month, which may be adjusted based on prior agreement or certain conditions, such as market demand or production capacity. By clearly establishing monthly delivery or purchase expectations, this clause helps both parties plan their operations and manage supply chain logistics, reducing the risk of misunderstandings or disputes over quantities.
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Monthly Contract Quantity. (a) The “Monthly Contract Quantity” is the sum of the Daily Contract Quantities for the applicable Month. Buyer will purchase and receive from Seller the Monthly Contract Quantity on a Firm basis.
(b) The Parties understand that the ▇▇▇▇ Inlet Gas Distribution System is currently unable to delivery precisely the Hilcorp Alaska, LLC, and Chugach Electric Association, Inc. nominated amount of Gas on any given Day. The mutual intent of the Parties is to work toward assuring that the Monthly Delivered Quantity for a given Month is within three percent (3%) of the Monthly Contract Quantity for such Month, and that the delivered volume of Gas for each Contract Year is within three percent (3%) of the Monthly Contract Quantity (assuming a 30-Day Month within such Contract Year) for the applicable Contract Year (“Permitted Delivery Range”).
Monthly Contract Quantity a limit for each Agreement Month during the Supply Period of 62,500 tons of Wet Sand per Agreement Month (the “Monthly Contract Quantity”);
Monthly Contract Quantity. IN SATISFACTION OF BUYER'S OBLIGATION TO PURCHASE AND LIFT, AND SELLER'S OBLIGATION TO SELL AND DELIVER, THE ANNUAL CONTRACT QUANTITY (EXCEPT AS PERFORMANCE MAY BE EXPRESSLY EXCUSED IN ACCORDANCE WITH THIS AGREEMENT) DURING EACH MONTH OF EACH CONTRACT YEAR, SELLER SHALL SELL AND DELIVER, AND BUYER SHALL PURCHASE AND LIFT, SUCH NUMBER OF BARRELS OF OIL OF THE BOSCAN AND BCF-13 TYPE AS SET FORTH IN EXHIBIT 2 IN RESPECT OF SUCH MONTH (THE "MONTHLY CONTRACT QUANTITY"), SUBJECT TO THE FOLLOWING EXCEPTION: AN OPERATIONAL TOLERANCE OF FIVE PERCENT (5%) ON EACH CARGO OF OIL BUYER IS SCHEDULED TO LIFT DUE TO CONDITIONS AT THE LOADING PORT OR AFFECTING THE VESSEL UTILIZED BY BUYER;
Monthly Contract Quantity. In satisfaction of Buyer’s obligation to purchase and lift, and Seller’s obligation to sell and deliver, the Annual Contract Quantity (except as performance may be expressly excused in accordance with this Agreement) during each Month of each Contract Year, Seller shall sell and deliver, and Buyer shall purchase and lift, such number of Barrels of Oil of the Boscán and BCF-13 type as set forth in Exhibit 2 in respect of such Month (the “Monthly Contract Quantity”), subject to the following exceptions:
(a) an operational tolerance of five percent (5%) on each Cargo of Oil Buyer is scheduled to lift due to conditions at the Loading Port or affecting the vessel utilized by Buyer;
(b) notwithstanding Buyer’s obligations under Article 10.1.5 to minimize deadfreight in developing the Agreed Lifting Program for any Month and solely for the purpose of eliminating deadfreight, Seller shall at its option:
(i) permit Buyer to overlift the amount required to accept all vessels as proposed by Buyer in its Lifting Program for such Month; it being understood that Seller shall have no obligation to permit an overlifting in any Month greater than 250,000 Barrels of Boscán and 325,000 Barrels of BCF-13; or
(ii) defer lifting for the last vessel to the first ten (10) Days of the immediately subsequent Month; or
(iii) specify a short load for the last vessel of either or both types of Oil to limit deliveries in such Month to a level at or above the Monthly Contract Quantity; provided that: (A) if Seller selects clause (i) above, the resulting quantity overlifted shall be subtracted from the Monthly Contract Quantity for the immediately subsequent Month; (B) if Seller selects clauses (ii) or (iii) above, the resulting quantity underlifted shall be added to the Monthly Contract Quantity for the immediately subsequent Month; and (C) if Seller selects clause (iii) above, Buyer shall present a claim for reimbursement to Seller, and notwithstanding any provision herein to the contrary, Seller shall reimburse Buyer for the allocable portion of deadfreight cost based on the unit cost of freight for the subject vessel and Buyer’s proposed lifting volume applied to the short-loaded volume;
(c) notwithstanding the foregoing clauses (a) and (b) to the contrary, solely in respect of the first Month of the First Contract Year, Buyer shall have the option to nominate a Monthly Contract Quantity with a tolerance of thirty percent (30%) for each grade of Oil to enable Buyer to offset any Oil ...