Default System definition

Default System means a system configured exactly as set out in the Annex entitled “List of Products”, Item No. 1 for the relevant Category, without variation.
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Examples of Default System in a sentence

  • Agreements for the gathering of Default System Owner Gas will be in the form of the Anchor Shipper Gathering Agreement.

  • For Default System Owner Gas, unless prohibited by applicable laws, rules or regulations, the Operator will charge the fees set forth in the Anchor Shipper Gathering Agreement and Operator will redetermine the gathering fee each year as set forth in the Anchor Shipper Gathering Agreement.

  • The Parties intend that their respective capital accounts (immediately after giving effect to the events described in (i), (ii) and (iii) of this Section 1.2.2) shall be in the same proportions as their Default System Ownership Interests in the AMI Midstream Assets as defined in the Agreement.

  • In the event it becomes necessary to recalculate the System Ownership Interests pursuant to the terms of this Agreement, or if any System Owner transfers all or a portion of its System Ownership Interest to an Affiliate or other Person pursuant to the terms of this Agreement, the Default System Ownership Interests and System Ownership Interests of the applicable Systems will be amended to reflect the new ownership.

  • Each System Owner will, within thirty (30) calendar days after receipt of a System Proposal, elect to either participate (to the extent of such System Owner’s Default System Ownership Interests) or not participate in the new System proposed in the System Proposal by written notice to the Operator.

  • For all Gas other than Default System Owner Gas, the Operator will set the gathering fee subject to approval by the Participating System Owners as provided in paragraph 8.4 below.