Deficiency Volume definition

Deficiency Volume has the meaning set forth in Section 3.5.
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Deficiency Volume means, for any Accounting Period, the amount by which (i) the Required Monthly Volume for such Accounting Period exceeds (ii) the Actual Shipments by Shipper during the same Accounting Period. In the case of Anchor Shippers, “Deficiency Volume” means, for any Accounting Period, the amount by which (iii) such Anchor Shipper’s Required Monthly Volume for such Accounting Period exceeds (iv) such Anchor Shipper’s Actual Shipments of Dedication Agreement Volumes during the same Accounting Period. Transporter may negotiate, on a not unduly discriminatory or preferential basis, alternative formula for determination of a Shipper’s Deficiency Volume, and such Deficiency Volume shall be utilized for all purposes under this Tariff.
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Deficiency Volume means, when a Committed Shipper fails to ship its Required Monthly Volume on the Pipeline during a Month, the difference between (a) the Committed Shipper’s Required Monthly Volume and
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Examples of Deficiency Volume in a sentence

  • The firm quantity not consumed in any Contract Year (the "Firm Deficiency Volume" or “FDV”) shall be as determined in the formula below.

  • The interruptible quantity not consumed in any Contract Year (the "Interruptible Deficiency Volume") (“IDV”) shall be determined in the formula below.

  • Deficiency Payments: During the Term, if an Actual Monthly Deficiency Volume exists as of the end of any Month, the Shipper shall pay to Carrier an amount equal to the product of (a) the Adjusted Monthly Deficiency Volume for such Month and(b) the applicable Throughput Fee (as set forth in Carrier’s Rates Tariff) in effect for such Month (such product being the “Deficiency Payment”).

  • To the extent that the foregoing reduction does not fully offset Shipper’s Deficiency Payment in such Month, Carrier shall credit the product of such Shipper’s Monthly Volumes shipped from all Group 2 Origin Points to Group 3 Delivery Points (if applicable) times the rate applicable to such Volumes under the Rates Tariff for the three Months following the Month in which the Actual Monthly Deficiency Volume occurred, on a three month rolling basis, to offset Shipper’s Monthly deficiency.

  • During the Term, and subject to Rule 17(B) and Rule 22(C), if Shipper has an Actual Monthly Deficiency Volume at the end of a given Month, then Shipper shall pay to Carrier an amount equal to the product of (i) the Adjusted Monthly Deficiency Volume for such Month and (ii) the Throughput Fee in effect for such Month which would have applied to Shipper’s volume had Shipper shipped its full Monthly Volume Commitment (such product being the “Deficiency Payment”).

  • Where Shipper has entered into multiple Committed Shipper agreements with Carrier, Shipper shall, as part of the Nominations process, indicate to Carrier to which Committed Shipper agreements its Nomination is to be attributed for the purpose of calculating whether Shipper has an Actual Monthly Deficiency Volume for a given Month.

  • In no event, however, shall Shipper be deemed to have an Adjusted Monthly Deficiency Volume greater than its Actual Monthly Deficiency Volume.

  • If, in a given Month, the Aggregate Monthly Shipped Volume exceeds the Co-op Deficiency Threshold, then Shipper’s Adjusted Monthly Deficiency Volume shall be deemed to be zero.

  • If, in a given Month, Shipper’s Actual Monthly Deficiency Volume and the Aggregate Co-op Deficiency are both greater than zero, then Shipper’s Adjusted Monthly Deficiency Volume shall be the Aggregate Co-op Deficiency divided by the sum of the Actual Monthly Deficiency Volumes of all Primary Committed Shippers multiplied by Shipper’s Actual Monthly Deficiency Volume.

  • Should service under a T&D Agreement commence on a Day that is not the first Day of a Month or should the Term end of a Day other than the last Day of a Month, the Actual Monthly Deficiency Volume, if any, shall be proportionately adjusted.


More Definitions of Deficiency Volume

Deficiency Volume shall be defined as the difference between the MVC during any Contract Year and the sum of the total volume of Gas delivered during that same Contract Year.
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Deficiency Volume means the Contract Quantity during any Contract Quarter of the Agreement less the actual barrels of Crude Oil received by STUSCO from Seller under this Agreement, during the same Contract Quarter, calculated on a net basis after any gravity adjustment. The Parties agree that for purposes of the Deficiency Volume calculation, the actual barrels of Crude Oil received by STUSCO from Seller during any calendar month under this Agreement shall be capped at 1.05 multiplied by the aggregate Contract Quantity for such calendar month, regardless of actual deliveries. A Contract Quarter is a three month period, the first beginning on the Service Commencement Date and each subsequent Contract Quarter being the following three month period. Should the Deficiency Volume be a positive number, for any reason, STUSCO shall provide notice to Seller of such Deficiency Volume and an invoice for the amount due hereunder, payable ten (10) days after receipt of invoice. Seller shall be invoiced an amount equal to the Deficiency Volume for the Contract Quarter multiplied by Magellan’s Longhorn Spot tariff rate which is effective for transportation from Crane, TX to Houston Ship Channel, for the period of time for which the Deficiency Volume is calculated. For the avoidance of doubt, Seller shall not be relieved of its obligation to make deficiency payments for the time of any Force Majeure event declared by Seller.
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Related to Deficiency Volume

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

  • Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Runoff volume means the volume of water that runs off the land development project from a prescribed storm event.

  • Service Volume means a measure of Services for which a Performance Target is set.

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Deficiency in service means, not deploying the full contingent of the Data Entry Operator requisitioned on time, non-replacement of Data Entry Operator who are found to be un- suitable, failure to provide suitable replacement to the absentees, non-payment of wages within the time prescribed, short payment of wages, short remittance of statutory payments, failure to submit the relevant details of the Data Entry Operator deployed to the Department, failure to submit/file statutory statements/returns as per the requirement of the applicable laws and violation of any of the condition in the contract agreement.

  • Deficiency Payment has the meaning set forth in Section 9(a).

  • Meet-Point Billing (MPB means the billing associated with interconnection of facilities between two (2) or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-bill environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Trading Volume means the volume of shares of the Company's Common Stock that trade between 9:30 AM and 4:00 PM, New York City Time, on any Business Day, and shall expressly exclude any shares trading during "after hours" trading.

  • Gas Supply Deficiency means any occurrence relating to Seller's gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Seller's gas supply.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Xxxxxx, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Deficiency Claim Amount has the meaning set forth in Section 5.5(a).

  • Deficiency Claim Date means, with respect to any Distribution Date, the fourth Business Day immediately preceding such Distribution Date.

  • Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

  • Water quality volume means the volume equal to the first one-half inch of runoff multiplied by the impervious surface of the land development project.

  • Maximum Concentration Level Assessment means the Maximum Concentration Level Assessment for the purposes of a Basic Comprehensive Certificate of Approval, described in the Basic Comprehensive User Guide, prepared by a Toxicologist using currently available toxicological information, that demonstrates that the concentration at any Point of Impingement for a Compound of Concern that does not have a Ministry Point of Impingement Limit is not likely to cause an adverse effect as defined by the EPA. The concentration at Point of Impingement for a Compound of Concern must be calculated in accordance with O. Reg. 419/05.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Grade point average or "GPA" means the grade point average earned by an eligible student and reported by the high school or participating institution in which the student was enrolled based on a scale of 4.0 or its equivalent if the high school or participating institution that the student attends does not use the 4.0 grade scale;

  • Deficiency Notice has the meaning specified in Section 6.1(a);

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Average Daily Trading Volume means, with respect to any date, the average of the daily trading volumes for the Class A Common Stock on the Principal Trading Facility for the thirty (30) Trading Days immediately preceding such date.

  • Delinquency Amount means, as of any Distribution Date, the Principal Balance of all Contracts that were delinquent 60 days or more as of the end of the related Due Period (including Contracts in respect of which the related Motorcycles have been repossessed and are still in inventory).

  • Contract Quantity means the quantity of Delivered Energy expected to be delivered by Seller during each Contract Year as set forth in Section 3.1(e).

  • Maximum contaminant level (MCL) means the maximum permissible level of a contaminant in water which is delivered to any user of a public water system.