Firm Cargo definition
Firm Cargo means, in respect of any Reference Period, the first Cargo scheduled to be delivered in the Reference Period as set out in the Annual Program and as designated by Operator.
Examples of Firm Cargo in a sentence
If the Unrated User makes a partial delivery of some but not all of the scheduled cargo quantity of the relevant Firm Cargo or Confirmed Cargo (as applicable), the Unrated User may proportionately amend, or partially cancel, the Sale Transaction to reflect the quantity of LNG actually delivered by the Unrated User in respect of such Cargo, to account for the partial delivery.
Upon Buyer's written request, Seller can elect to skip an Option Cargo delivery and replace it with the delivery of a Firm Cargo obligation.