Composite ADP definition
Examples of Composite ADP in a sentence
Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or other Driftwood LNG Terminal buyers’ annual delivery programs are changed pursuant to their respective LNG sale and purchase agreements.
Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or other Partnership Buyers’ annual delivery programs are changed pursuant to their respective LNG sale and purchase agreements.
Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or the annual delivery programs of buyers and offtakers from the Driftwood LNG Terminal (including Foundation Customers and Driftwood Buyers) are changed pursuant to their respective LNG sale and purchase agreements.
If the Composite ADP is not approved (or deemed to be approved) as provided in this Section 5.1(h)(i) at least 70 days prior to the commencement of the relevant calendar year, then Driftwood LNG shall establish the Composite ADP for such calendar year on the basis of the Tested Capacity, as corrected for maintenance.
Unless the Board, acting by Simple Majority, determines that (1) the proposed Composite ADP does not represent such a technically valid and prudent evaluation of the cumulative anticipated production of LNG, or (2) reasonable efforts to accommodate the slots requested per Section 8.2.2 of the LNG SPAs were not used, such proposed Composite ADP shall be approved, ratified, and confirmed.
Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or other Persons’ delivery windows are changed pursuant to their respective agreements.
Seller may not withhold its consent to revise the ADP or Ninety Day Schedule if Buyer’s proposed change: (a) consists of the movement of a Delivery Window to dates not committed under the Composite ADP at the time of Buyer’s request and does not result in a change to the Scheduled Cargo Quantity; (b) the proposed change is, by the exercise of reasonable efforts on the part of Seller, operationally feasible; and (c) the proposed change does not result in increased costs to Seller.
The Directors shall evaluate such proposed Composite ADP on the basis of (A) whether it represents a technically valid and prudent evaluation of the cumulative anticipated production of LNG from the Plants that have, or are expected to have, achieved Full Operations prior to or during the relevant calendar year among the LNG SPAs, and (B) whether reasonable efforts to accommodate the slots requested pursuant to Section 8.2.2 of the LNG SPAs were used.
Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or other Driftwood buyers’ annual delivery programs are changed pursuant to their respective LNG sale and purchase agreements.