Examples of Daily Volume Commitment in a sentence
The Tier 2 Committed Shipper Rate is also available to such Committed Shippers shipping volumes, on a monthly basis, of up to 10% in excess of the Shipper’s Daily Volume Commitment on a space-available basis.
The Local/Uncommitted Shipper Rate shall apply to volumes shipped by Tier 2 Committed Shippers, on a monthly basis, in excess of 110% of the shipper’s Daily Volume Commitment.
The Local/Uncommitted Shipper Rate shall apply to volumes shipped by Tier 1 Committed Shippers, on a monthly basis, in excess of such shipper’s Daily Volume Commitment.
If a Regular Shipper experiences an event of force majeure during any month of its Initial Base Period that prevents it from delivering any Crude Petroleum for Shipment, the Regular Shipper’s historical Shipments for such month will be deemed to equal such shipper’s Daily Volume Commitment for such month.
Term and Rates: Each Shipper who executes a T&D Agreement with Carrier for an Initial T&D Term of five (5) or ten (10) years with a Daily Volume Commitment of at least eleven thousand two hundred fifty (11,250) BPD is referred to herein as a Volume Incentive Shipper and shall be entitled to the rights and benefits of Carrier’s Volume Commitment Incentive Program set forth in this Rule 22 and the Committed Rates set forth in the Carrier’s Rates Tariff.
For the first and second months of its Initial Base Period, each Regular Shipper’s Historical Shipment Status will be deemed to equal such Regular Shipper’s Daily Volume Commitment.
For the third month of its Initial Base Period, each Regular Shipper’s Historical Shipment Status will be deemed to equal the average of one (1) month of the Regular Shipper’s actual Shipments (i.e., the Regular Shipper’s actual Shipments during the first month of its Initial Base Period), and eleven (11) months of such Regular Shipper’s Daily Volume Commitment.
The Historical Shipment Status for Regular Shippers (excluding Firm Shippers, which are addressed in Section B.2. below) shall, during any Initial Base Period, be determined with reference to both the Regular Shipper’s Daily Volume Commitment as set forth in such Regular Shipper’s Commitment Agreement, and actual Shipments on an average Bpd basis, as more fully described below.
Each Firm Shipper will be allocated a volume (on a Bpd basis averaged over the month of allocation) equal to the Daily Volume Commitment as set forth in such Firm Shipper’s Commitment Agreement.
If a Firm Shipper nominates Crude Petroleum less than or equal to its Daily Volume Commitment as set forth in such Firm Shipper’s Commitment Agreement, such nomination will not be subject to prorationing; provided, however, that if a Firm Shipper is unable to arrange for the delivery of its Crude Petroleum at the Destination, then such Firm Shipper’s nomination shall be deemed to be reduced by the volume that such Firm Shipper is unable to arrange for at the Destination.