Examples of Committed Volume in a sentence
CONTRACT INCENTIVE RATE: The Contract Incentive Rate set forth above shall apply to all shipments of a Priority Shipper who has executed a COGA for Priority Service on the Gathering System that provides for an initial Committed Volume during the first three calendar years of such COGA that is not less than 75,000 Barrels per day of Crude Oil and the assignees and any other entities who assume any part of the rights and obligations of such Priority Shipper under such COGA.
Crude Oil Nominated or Tendered by a Priority Shipper in excess of such Shipper’s Committed Volume shall be subject to Uncommitted Service pursuant to this tariff.
In the event Gatherer curtails some, but not all, such Crude Oil in a particular month, Gatherer shall allocate the available System Capacity among Priority Shippers on a pro rata basis based on the proportion of a Priority Shipper’s Committed Volume to the total aggregate Committed Volumes of all Priority Shippers then, but in no event to exceed each Priority Shipper’s nominated amount.
The Contract Incentive Rate set forth above shall also apply to shipments of any other Priority Shipper with a Committed Volume to the extent such shipments are in excess of such Priority Shipper’s Committed Volume.