Overrun Charge Sample Clauses
An Overrun Charge clause defines the additional fees or penalties that apply if a project or service exceeds the agreed-upon time, budget, or resource limits. Typically, this clause specifies the rate or method for calculating extra charges incurred due to overruns, such as a daily fee for each day past a deadline or a percentage of costs exceeding the budget. Its core function is to incentivize timely and efficient completion of work, while also compensating the party affected by delays or excess usage, thereby managing risk and promoting accountability.
Overrun Charge. (a) In respect of each GJ of Overrun Gas Received by the Shipper on a Gas Day, the Shipper must pay an Overrun Charge calculated by applying the Overrun Rate to the total Overrun Gas Received by the Shipper on that Gas Day in accordance with clause 20.
(b) The Overrun Rate is the greater of:
(i) 115% of the B1 Tariff; and
(ii) the highest price bid for Spot Capacity which was accepted for that Gas Day other than when the highest price bid was not a bona fide bid, in which case the highest bona fide bid, (Overrun Rate).
(c) All Overrun Gas Delivered on a Gas Day must be included in the calculation of the Shipper's Hourly Quantities, Total Inlet Quantity and Total Outlet Quantity for that Gas Day.
Overrun Charge. Whenever the Quantity of Gas delivered through any User Delivery Point to or for the account of the Pipeline User on any Pipeline Day exceeds the MDQ for that User Delivery Point, the Pipeline User will pay the Tubridgi Parties a daily overrun charge in accordance with this clause.
Overrun Charge. In the event that a direct purchase customer fails to deliver its contracted volumes to Union, and Union has the capability to continue to supply the customer, Union will do so. The customer may pay 4.6572 ¢ per m³ for the delivery and the total gas supply charge for utility sales provided in Schedule “A” per m³, plus 7¢ per m³.