Examples of Contract Year in a sentence
When initiating a Pool, and at renewal for the next Contract Year, the DCQ is set to reflect the historical and/or forecasted consumption for all associated Points of Consumption.
For Pools with at least one daily read Point of Consumption, if the parties cannot reach a negotiated agreement, in good faith, for a revised DP Schedule, prior to 25 days before the beginning of the next Contract Year, then the existing parameters shall apply.
In each Contract Year, Customer shall consume or, in any event, pay for the Adjusted Interruptible Minimum Annual Volume (“AIMAV”) as determined in the formula below.
In each Contract Year, Customer shall consume or, in any event, pay for the Adjusted Firm Minimum Annual Volume (“AFMAV”) as determined in the formula below.
Where: And: AFMAV = FMAV x [(U – DF) / U] FDV = AFMAV – (FV – F) FMAV = Firm Minimum Annual Volume U = number of days in the Contract Year DF = number of days of Force Majeure in the Contract Year FV = total Firm volume consumed in the Contract Year F = volumes delivered to the Points of Consumption during Force Majeure The payment required for the FDV shall be calculated by multiplying FDV by the Monthly Firm Delivery Commodity rate as of the last day of the Contract Year.