MTVF Relief Clause Samples
The MTVF Relief clause provides a mechanism for parties to seek relief or exemption from certain obligations under the contract in the event that the MTVF (which may refer to a specific fund, facility, or financial metric) is impacted by unforeseen circumstances. In practice, this clause typically outlines the conditions under which a party can request relief, such as significant changes in market conditions, regulatory actions, or force majeure events affecting the MTVF. Its core function is to allocate risk and provide flexibility, ensuring that parties are not unfairly penalized for circumstances beyond their control that affect the MTVF.
MTVF Relief. During any Month that one or both of the Berths are not available to receive any customer’s Marine Vessels on a day in which Customer’s Marine Vessel is scheduled to have access to a Berth, for any reason other than Customer’s actions, including without limitation, Operator’s actions, Force Majeure, and the actions of a Governmental Authority, and such unavailability prevents Customer from throughputting the Minimum Marine Throughput Volume, the Minimum Marine Throughput Volume (and resulting MTVF) and the Minimum Pipeline Throughput Volume (and resulting Pipeline Use Fee) for such Month will be reduced as follows:
(i) If both Berths are unavailable, then the MTVF and the minimum Pipeline Use Fee will be proportionally reduced in proportion to the number of days in such Month when Customer’s vessels were prevented from having access to the Berths as a result of the Berths being unavailable, divided by the total days in such Month; or
(ii) If only one Berth is available, then the MTVF and the minimum Pipeline Use Fee will be proportionally reduced in proportion to the number of days in such Month when Customer’s vessels were prevented from having access to the Berths for more than two (2) days after delivering NOR (as a result of one Berth being unavailable) divided by the total days in such Month.
MTVF Relief. During any Month that the Anacortes Rail Unloading Facility is unavailable to receive any of TRMC’s unit trains on a day in which such unit train is scheduled to have access to the Anacortes Rail Unloading Facility, for any reason other than TRMC’s actions, including without limitation, TLO’s actions, Force Majeure, and the actions of a Governmental Authority, and such unavailability prevents TRMC from offloading and throughputting, then the Minimum Throughput Volume and the MTVF for such Month will be reduced in proportion to the number of days in such Month when TRMC’s unit trains were prevented from having access to the Anacortes Rail Unloading Facility as a result of the Anacortes Rail Unloading Facility being unavailable, divided by the total days in such Month; provided, however, that the foregoing reduction to the Minimum Throughput Volume and MTVF shall not exceed the actual reduction in volume of, and offload and throughput fees charged for, such Product handled by TLO.