Initial Base Period definition

Initial Base Period means (a) with respect to Anchor Shippers, the first twelve (12)- month period beginning the first full month of operations after the Initial Service Commencement Date, and ending after the twelfth (12th) consecutive month of operations following the Initial Service Commencement Date; and (b) with respect to Non-Firm Shippers, the first twelve (12)-month period beginning the first full month of operations after Carrier has notified all shippers that the Carrier Facilities are ready to commence commercial service on the Additional Capacity applicable to such Non-Firm Shippers with respect to the receipt, transportation and delivery of Crude Petroleum under all tariffs and any applicable Commitment Agreements (each, an “Additional Capacity Service Commencement Date”), and ending after the twelfth (12th) consecutive month of operations following any applicable Additional Capacity Service Commencement Date.
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Initial Base Period means the first eighteen (18)-month period beginning the first full month of operations after Carrier has notified all shippers that the Carrier Facilities are ready to commence commercial service with respect to the receipt, transportation and delivery of Crude Petroleum under all tariffs and any applicable TSAs (the “Service Commencement Date”), and ending after the eighteenth (18th) consecutive month of operations following the Service Commencement Date. For the avoidance of doubt, any Crude Petroleum shipped by Carrier prior to the Service Commencement Date shall not be considered a “Shipment” under these Procedures, and no such shipments prior to the Service Commencement Date shall have any impact on the proration of capacity pursuant to these Procedures either before or after the Service Commencement Date.
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Initial Base Period means, with respect to Subsequent Expansion Non-Firm Shippers, the first eighteen (18)-month period beginning the first full month of operations after Carrier has declared that the Expansion Carrier Facilities are ready to commence commercial service on the Additional Capacity applicable to such Subsequent Expansion Non-Firm Shippers with respect to the receipt, transportation and delivery of Crude Petroleum under all tariffs and any applicable TSAs (each, an “Additional Expansion Capacity Service Commencement Date”), and ending after the eighteenth (18th) consecutive month of operations following any applicable Additional Expansion Capacity Service Commencement Date. For the avoidance of doubt, any Crude Petroleum shipped by Carrier prior to the Initial Expansion Service Commencement Date shall not be considered a “Shipment” under these Expansion Procedures and no such shipments prior to the Initial Expansion Service Commencement Date shall have any impact on the proration of capacity pursuant to these Expansion Procedures either before or after the Initial Expansion Service Commencement Date.
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Examples of Initial Base Period in a sentence

  • 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.

  • 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.

  • The foregoing procedure would continue for each of the twelve (12) months of its Initial Base Period until the Regular Shipper has established twelve (12) months of actual Shipment history, and also for the first month following the expiration of its Initial Base Period.

  • 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.

  • Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is a legally enforceable right to offset the recognised amounts and the Group and the Bank intend to settle on a net basis, or realise the asset and settle the liability simultaneously.

  • The Historical Shipment Status for Regular Shippers (excluding Anchor Firm Shippers and Firm Shippers, which are instead 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 TSA, and actual Shipments on an average Bpd basis, as more fully described below.

  • For the third month of the 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 the Initial Base Period), and 17 months of such Regular Shipper’s Daily Contract Volume Commitment.

  • Assuming Shipper A ships 55,000 Bpd during the first month of the Initial Base Period, then for the third month of the Initial Base Period, Shipper A’s Historical Shipment Status would be deemed to equal the average of (i) 55,000 Bpd of actual Shipments during the first month of the Initial Base Period, and (ii) 50,000 Bpd of the Daily Contract Volume Commitment for each of the remaining 17 months.

  • The Historical Shipment Status for Regular Shippers shall, during the Initial Base Period, be determined with reference to both the Regular Shipper’s Daily Contract Volume Commitment as set forth in such Regular Shipper’s TSA, and actual Shipments on an average Bpd basis, as more fully described below.


More Definitions of Initial Base Period

Initial Base Period means, with respect to Subsequent BridgeTex II Non-Firm Shippers, the first eighteen (18)-month period beginning the first full month of operations after Carrier has declared that the BridgeTex II Facilities are ready to commence commercial service on the Additional Capacity applicable to such Subsequent BridgeTex II Non-Firm Shippers with respect to the receipt, transportation and delivery of Crude Petroleum under all tariffs and any applicable TSAs (each, an “Additional BridgeTex II Capacity Service Commencement Date”), and ending after the eighteenth (18th) consecutive month of operations following any applicable Additional BridgeTex II Capacity Service Commencement Date. For the avoidance of doubt, any Crude Petroleum shipped by Carrier prior to the Initial BridgeTex II Service Commencement Date shall not be considered a “Shipment” under these BridgeTex II Procedures and no such shipments prior to the Initial BridgeTex II Service Commencement Date shall have any impact on the proration of capacity pursuant to these BridgeTex II Procedures either before or after the Initial BridgeTex II Service Commencement Date.
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Initial Base Period means the first eighteen (18) month period, beginning the first full month of operations after MCOP has notified all shippers, including all shippers under an Incentive Tariff that the pipeline is ready to commence commercial service with respect to the receipt, transportation and delivery of Product under all the tariffs and any agreements related thereto (“Service
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Related to Initial Base Period

  • Base Period means (i) the test period ending December 31, 2010 (or, if the Commission has elected to stagger its biennial reviews of utilities as provided in subdivision 1, the test period ending December 31, 2010, for a Phase I Utility, or December 31, 2011, for a Phase II Utility), or (ii) the most recent test period with respect to which credits have been applied to customers' bills under the provisions of this subdivision, whichever is later.

  • Purchase Period means a period of time specified within an Offering, generally beginning on the Offering Date or on the first Trading Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods.

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Use Period means the period commencing on the date that the ABL Agent or an agent acting on its behalf (or an ABL Credit Party acting with the consent of the ABL Agent) commences the liquidation and sale of the ABL Priority Collateral in a manner as provided in Section 3.6 hereof (having theretofore furnished the Controlling Term Agent with an Enforcement Notice) and ending 180 days thereafter. If any stay or other order that prohibits any of the ABL Agent, the other ABL Secured Parties or any ABL Credit Party (with the consent of the ABL Agent) from commencing and continuing to Exercise Any Secured Creditor Remedies or from liquidating and selling the ABL Priority Collateral has been entered by a court of competent jurisdiction, such 180-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended.

  • Testing Period means a single period consisting of the four consecutive fiscal quarters of the Borrower then last ended (whether or not such quarters are all within the same fiscal year), except that if a particular provision of this Agreement indicates that a Testing Period shall be of a different specified duration, such Testing Period shall consist of the particular fiscal quarter or quarters then last ended that are so indicated in such provision.

  • Twelve-Month Period means a twelve-month period ending on the first anniversary of the Effective Date or on each subsequent anniversary thereof.

  • Rolling Period means, as of any date, the four Fiscal Quarters ending on or immediately preceding such date.

  • Initial Offering Period means the initial period during which a Series of the Trust will offer its Shares prior to the commencement of investment operations of such Series;

  • Operating Period for any Element of the Project shall mean the period from (and including) the COD of such Element of the Project, up to (and including) the Expiry Date and for the Project, shall mean the period from (and including) the COD of the Project, up to (and including) the Expiry Date;

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

  • Offering Commencement Date means the first day of each Offering Period.

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • 12-Month Period means a rolling 12-month period measured backward from the date leave is taken and continuous with each additional leave day taken.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Marketing Period means the first period of 21 consecutive business days throughout and on the last day of which (a) Parent, Merger Sub and their financing sources shall have received completed Offering Documents including Required Information (including the Required Information with respect to the Company’s fiscal year ended January 25, 2010) for all of the Available Financing, and such Required Information contained in all of the Offering Documents is Compliant, (b) all conditions set forth in Section 6.1 and Section 6.2 (other than those that by their nature will not be satisfied until the Effective Time) have been satisfied and nothing has occurred and no condition exists that would cause any of the conditions set forth in Section 6.1 or Section 6.2 not to be satisfied assuming the Effective Time were to be scheduled for any time during such consecutive 21 business day period, and (c) the Company shall have provided all cooperation which it is obligated to provide under the terms of Section 5.5. Notwithstanding the foregoing, the “Marketing Period” shall not commence and shall be deemed not to have commenced if, on or prior to the completion of such consecutive 21 business day period, (x) the Company shall have announced any intention to restate any financial statements or financial information included in the Required Information or that any such restatement is under consideration or may be a possibility, in which case the Marketing Period will be deemed not to commence unless and until such restatement has been completed and the applicable Required Information has been amended or the Company has announced that it has concluded that no restatement shall be required, (y) the Company shall have failed to file any report with the applicable Securities Authorities when due, in which case the Marketing Period will be deemed not to commence unless and until all such reports have been filed, or (z) the Required Information would not be Compliant throughout and on the last day of such 21 business day period, in which case a new 21 business day period shall commence upon Parent, Merger Sub and their financing sources receiving updated Required Information that would be Compliant, and the requirements in clauses (a) and (b) above would be satisfied throughout and on the last day of such new 21 business day period. In no event may a “Marketing Period” commence any later than July 27, 2010, unless at Parent’s election a Marketing Period commenced after such date terminates no later than August 24, 2010.

  • Planning Period Balance means the entire period of time remaining in the Planning Period following the month that a monthly auction is conducted.

  • Hire Period means the period commencing when the Customer holds the Hire Goods on hire (including Saturdays Sundays and Bank Holidays) and ending upon the happening of any of the following events:

  • Nomination Period means a period of time that Customer includes in a nomination for gas service.

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Monitoring Period means the period from the Launch Date to the Valuation Date (both dates including) at such point in time at which the Reference Price of the Underlying is determined and published..

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 1997-1) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Evaluation Period bears the meaning ascribed thereto in Section 7.4(d)(i);

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.