Committed Volume definition

Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

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Committed Volume means (i) with respect to a Priority Shipper that has committed to deliver a specified minimum volume of Crude Oil to the Gathering System pursuant to such Priority Shipper’s COGA, such specified minimum volume (expressed in Barrels per day), and (ii) with respect to a Priority Shipper that has not committed to deliver a specified minimum volume of Crude Oil, but has made an acreage dedication pursuant or volume commitment to such Priority Shipper’s COGA, a volume of Crude Oil (expressed in Barrels per day) equal to such Priority Shipper’s maximum daily quantity.

Committed Volume means the Barrel per day (“bpd”) quantity committed to by a Volume Commitment Shipper, in accordance with a TSA, multiplied by the number of days in the relevant month.

Examples of Committed Volume in a sentence

Within 30 days after the beginning of each Contract Year during the Term, the Parties will agree to any adjustments in the Monthly Contract Volumes for any one or more Products, including the effect on the Annual Committed Volume mix for each Product Group that will apply for that Contract Year; provided however, that if the Parties are unable to agree by that date, the volumes set forth herein shall govern.
If the Parties agree to changes in the Monthly Contract Volumes for any one or more Products, the Annual Committed Volume for the affected Product Groups will be adjusted accordingly, as will the Home Heat Distillate Volume Allocation, if necessary.
If, and to the extent that Seller exercises this right, the Annual Committed Volume for the affected Product Groups will be adjusted accordingly, as will the Home Heat Distillate Volume Allocation, if necessary.
It is the intent of this provision that the Parties will negotiate in good faith, acting commercially reasonably, on the purchase price of any Products in excess of the Annual Committed Volume.
Notwithstanding anything to the contrary in this provision, Monarch may accept an upward adjustment request that exceeds the Ninety Percent Cap upon agreement by Monarch to undertake and complete an expansion of its Pipeline, and the volume of such upward adjustment that exceeds the Ninety Percent Cap will become part of such Dedicated Firm Shipper’s Committed Volume effective on the date such expansion is completed and available for service.

More Definitions of Committed Volume

Committed Volume means the minimum volume of Product (stated in BPD) that a Committed Shipper has committed in its TSA to Nominate and ship on the Pipeline, or otherwise pay a Deficiency Payment for, each Day during a Month.

Committed Volume means Shipper’s Barrels per day volume commitment set forth in its TSA;

Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Light Condensate to be received by Carrier set out in Section 2.1 of the Committed Shipper's TSA in respect of the Cochin Pipeline.

Committed Volume means (i) with respect to a Priority Shipper that has committed to deliver a specified volume of Crude Oil to the Gathering System pursuant to such Priority Shipper’s COGA or pay a deficiency payment, such specified volume (expressed in Barrels per day), and

Committed Volume as used herein means a minimum daily volume of Crude Petroleum that a Contract Shipper commits to ship pursuant to the terms of a Throughput Agreement for a minimum time period.

Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Diluent to be received by Carrier set out in Schedule A to the Committed Shipper’s TSA in respect of the Diluent Pipeline.

Committed Volume means that the Shipper shall ship, or otherwise pay for the shipment of Crude Oil from a receipt point to a delivery point on the Carrier’s system as specified in the Shipper’s Transportation Services Agreement.