SHORTFALL QUANTITY Sample Clauses

SHORTFALL QUANTITY. 6.3.1 If the Seller, for reasons other than of Force Majeure or for reasons attributable to the Buyer, fails to make available for delivery at the Delivery Point at least 80% of aggregate of the lower of PNDCQ or DCQ during any consecutive period of 15 (fifteen) Days under the Supply Period relating to eSPN then the difference between (a) 15 multiplied by lower of PNDCQ/DCQ multiplied by 0.8 ; and (b) quantities of e-Bid RLNG actually tendered for delivery by the Seller during such consecutive period of 15(fifteen) Days (expressed in MMBtu) in respect of such eSPN shall be called the “Shortfall Quantity”). However, this Article shall not apply in respect of supply of e-Bid RLNG in excess of DCQ under any rostering mechanism requested by the Buyer. In the case of Shortfall Quantity in respect of any eSPN, the Buyer shall receive, as Liquidated Damages for such failure to deliver, a credit to be applied (LD Credit) against the payment to be made by the Buyer to the Seller in respect of the invoice raised by the Seller for the last Billing Period of the Supply Period and/or in respect of the Take or Pay Statement relating to such eSPN. Such Liquidated Damages shall be an amount equal to the Shortfall Quantity multiplied by 5 (five) per cent of the Price under such eSPN. For the purpose of Liquidated Damages, the Price shall be the weighted average foreign currency component of e-Bid RLNG, as mentioned in eSPN, for the Supply Period.
Sample 1Sample 2
AutoNDA by SimpleDocs
SHORTFALL QUANTITY. The quantity of coal which is equal to the sum of the tonnage of coal which is required to be delivered by Seller and taken Receipt of by Buyer pursuant to the terms of this Agreement during any period minus the actual tonnage of coal delivered by Seller and taken Receipt of by Buyer pursuant to the terms of this Agreement during such period.
Sample 1

Related to SHORTFALL QUANTITY

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • Additional Quantities For a period not exceeding ninety (90) days from the date of solicitation award, the Customer reserves the right to acquire additional quantities up to the amount shown on the solicitation but not to exceed the threshold for Category Two at the prices submitted in the response to the solicitation.

  • Shortfall If, on any date, the Outstanding Advances shall exceed the Maximum Advance Amount (such excess, the "Shortfall Amount"), then the Customer shall on such date prepay the Outstanding Advances in an amount equal to such Shortfall Amount.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Supply Price In event BTC exercises the Supply Option, the Supply Agreement shall afford Auxilium supply terms for Year 1 that are not less favorable than the average price afforded to Auxilium by the Back-Up Suppliers for the year immediately preceding the Supply Date and supply terms for each successive year that are not less favorable than the average price afforded to Auxilium by the Back-Up Suppliers for each preceding year as applicable.

  • ESTIMATED / SPECIFIC QUANTITY CONTRACTS Estimated quantity contracts, also referred to as indefinite delivery / indefinite quantity contracts, are expressly agreed and understood to be made for only the quantities, if any, actually ordered during the Contract term. No guarantee of any quantity is implied or given. With respect to any specific quantity stated in the contract, the Commissioner reserves the right after award to order up to 20% more or less (rounded to the next highest whole number) than the specific quantities called for in the Contract. Notwithstanding the foregoing, the Commissioner may purchase greater or lesser percentages of Contract quantities should the Commissioner and Contractor so agree. Such agreement may include an equitable price adjustment.

  • ESTIMATED QUANTITIES 1.1 The quantities set forth in the line items and specification document are approximate and represent the estimated requirements for the contract period.

  • Shortfalls (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “

  • CONTRACT AMOUNT Compensation amount(s), when stated in this Bid Specifications, shall not be construed as either the maximum or minimum amount which Department shall be obligated to accept as the result of this Bid Specifications or any Agreement entered into as a result of this Bid Specifications.

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

Time is Money Join Law Insider Premium to draft better contracts faster.