Minimum Annual Contract Quantity definition

Minimum Annual Contract Quantity shall be, (a) during the Start-Up Period, a volume of SAF that Seller is able to produce and deliver from Seller’s Facilities on an As Available Basis to the applicable Off-Airport Storage Facility for blending with Jet A Fuel, with such volume not to exceed thirty (30) Million U.S. Gallons of SAF per year on a ratable basis and (b) during the Delivery Term, thirty (30) Million U.S. Gallons of SAF per year. For sake of clarity, while the Parties recognize that SAF delivered hereunder will be a blended mix of Jet A Fuel and unblended SAF, for all volumes of blended SAF delivered hereunder by Seller, Seller shall have delivered to the applicable Off-Airport Storage Facility for blending with Jet A Fuel an equivalent volume (at 15 degrees Celsius) of unblended SAF. If Seller makes available to Buyer SAF in excess of the Minimum Annual Contract Quantity, Buyer shall have the right to purchase such SAF on the same terms and conditions as set forth herein other than with respect to price, which will be subject to written agreement of the Parties. For sake of clarity, Buyer shall have no obligation pursuant to this Agreement to purchase any SAF in excess of the Minimum Annual Contract Quantity, and Seller shall have no obligation to provide such SAF. All sales of SAF by Seller in excess of the Minimum Annual Contract Quantity shall be on an As Available Basis, and Seller shall have no obligation to offer any SAF to Buyer in excess of the Minimum Annual Contract Quantity even if Seller has such SAF available. If, for any reason, Seller’s Facilities are incapable of producing sufficient SAF to deliver the Minimum Annual Contract Quantity of SAF, then Seller shall allocate the SAF produced from Seller’s Facilities ratably among all of Seller’s customers without discrimination; provided that Seller shall have no obligation to allocate to Buyer production from the facilities currently under development by Seller known as Net-Zero 1 and Net-Zero 2. Seller shall use commercially reasonable efforts to develop sufficient capacity at Seller’s Facilities to ensure delivery of the Minimum Annual Contract Quantity.
Sample 1
Minimum Annual Contract Quantity shall be 10 Million gallons per year, or if Seller is unable to produce a total of 10 Million gallons per year, the amount of Fuel actually produced by Seller. As set forth in Section 4.2 and Section 5.2, Seller shall sell and deliver, or cause to be delivered, and Buyer shall purchase and receive, or cause to be received, at the Delivery Point, or pay for even if not taken, the Minimum Annual Contract Quantity of Fuel per year, beginning on and continuing after the Commencement Date through the fifth (5th) anniversary of the Commencement Date; provided, however, that if the term is renewed for an additional two (2) year period, such obligation shall continue through such renewal period. Subject to Annex I, Section 5.5, Seller shall adhere to the delivery schedule agreed in writing between the Parties. Until such time as Seller has sold out the capacity of Seller’s Facility, Seller may, in Seller’s sole discretion, offer to Buyer the option to purchase additional gallons of Fuel from Seller on the same terms and conditions as set forth in the Agreement. Buyer may meet the Minimum Annual Contract Quantity requirement through one or more Location Agreements.
Sample 1
Minimum Annual Contract Quantity means the minimum quantity of Renewable Isooctane that Buyer is obligated to take and pay for and Seller is obligate to supply during each year of the Delivery Term, as set forth in Section 3.3.
Sample 1

Examples of Minimum Annual Contract Quantity in a sentence

  • In addition, if during any year Buyer’s Demand Forecast shows purchases of Renewable Isooctane within the next ninety (90) Days that would result in Buyer exceeding the applicable Minimum Annual Contract Quantity (the “Reserved Amount”), then the exclusivity contemplated by this Section 3.6 shall continue to apply to the Reserved Amount up to the Maximum Annual Contract Quantity (at which point there shall no longer be any exclusivity).

  • The Minimum Annual Contract Quantity shall be adjusted dependent upon which of the Production Facilities is operational and for how long such facility(ies) have been operating, as set forth below, with the annual measurement period being reset upon each such adjustment.

  • For clarification and not in limitation of the foregoing, the obligation of Buyer to purchase the Minimum Annual Contract Quantity of Renewable Isooctane hereunder during the Delivery Term is a “take or pay” obligation and fully binding upon and enforceable against Buyer throughout the Delivery Term, all as more further described in Section 3.3, subject, however, to Section 3.11, if applicable.

  • Upon completion of the audit, the accounting firm will provide both the Audited Party and the Requesting Party a written report disclosing any discrepancies in the reports submitted by the Audited Party or, as applicable, the amounts payable under this Agreement, and in each case, the specific details concerning any discrepancies.

  • In Delivery Years sixteen (16) through twenty (20) Seller shall deliver the Tier One Minimum Annual Contract Quantity and Tier Two Minimum Annual Contract Quantity of energy and associated Environmental Attributes to Buyer prior to making any election, as provided above in this subsection, to apply any portion of any excess quantities towards Seller's obligation to deliver the Tier One Minimum Annual Contract Quantity to Buyer in the immediately succeeding Delivery Year.

  • Buyer agrees to purchase and receive, or cause to be received, and Seller agrees to sell and deliver, no less than the Minimum Annual Contract Quantity at the Delivery Point at the price set forth herein.

  • Xxxxxx, Xxairman of the Board Definitions Additional Costs and Expenses means all additional direct and indirect costs and expenses incurred by Sterling as a result of the failure by BP to take the Minimum Annual Contract Quantity in any Contract Year or during the one- year period following a termination date, including increased costs of production of Product, increased incremental costs incurred in the operation of the Facility and increased raw materials usages, utilities and other costs and expenses.

  • Seller shall use commercially reasonable efforts to cause the Minimum Annual Contract Quantity to be delivered from the largest Production Facility in operation.

  • Buyer acknowledges and agrees that (i) prior to the Delivery Commencement Date, Seller shall have the right to sell energy, capacity and associated Environmental Attributes generated by the Project to any third party and (ii) during any Delivery Year during the Delivery Term, Seller shall have the right to sell energy, capacity and associated Environmental Attributes generated by the Project in excess of the Minimum Annual Contract Quantity to any third party.

  • Upon compliance with the foregoing, each Additional Buyer shall be considered a “Buyer” for all purposes hereunder, and purchases of Renewable Isooctane by an Additional Buyer shall be included in the calculation of all requirements hereunder pertaining to the Minimum Annual Contract Quantity, the Maximum Annual Contract Quantity and the Price for Renewable Isooctane.


More Definitions of Minimum Annual Contract Quantity

Minimum Annual Contract Quantity shall be 200,000 GPY. As set forth in Section 4.2, Seller shall sell and deliver, or cause to be delivered, and Buyer shall purchase and receive, or cause to be received, at the Delivery Point, or pay for even if not taken, the Minimum Annual Contract Quantity of Fuel per year, beginning on and continuing after the Commencement Date through the fifth (5th) anniversary of the Commencement Date. Subject to Annex I, Section 5.5, Seller shall adhere to the delivery schedule agreed in writing between the Parties. Until such time as Seller has sold out the capacity of Seller’s Facility, Seller may, in Seller’s sole discretion, offer to Buyer the option to purchase additional gallons of Fuel from Seller on the same terms and conditions as set forth in the Agreement. Buyer may meet the Minimum Annual Contract Quantity requirement through one or more Location Agreements.
Sample 1
Minimum Annual Contract Quantity. (or "MACQ") shall mean the minimum quantity of Gas that Buyer, subject to the terms and conditions of this Agreement, is obligated to purchase from Sellers each Contract Year, and is further defined in Article 4.3 hereof.
Sample 1

Related to Minimum Annual Contract Quantity

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

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

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum Volume Commitment.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Minimum Order Quantity means the minimum number of batches of a Product to be produced during the same cycle of manufacturing as set forth in a Product Agreement on Schedule B;

  • Scheduled Quantity means the net quantity of Gas (being the difference between receipt and delivery nominations) agreed by MDL and the Welded Party to pass through (or, in the case of a Notional Welded Point, be deemed to have passed through) the relevant Welded Point for a Day.

  • Minimum Contract Value means 10% of the Maximum Contract Value.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Daily Quantity means the quantity of waste discharged during an operating day.

  • Annual Contract Value or “ACV” means the net subscription fee for one (1) year as defined in the Order Form for a specific Customer.

  • 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.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Net Invoice Price means the price paid by You for Your Vehicle including all factory fitted accessories and any discount given but excluding retailer fitted accessories, road fund licence, new vehicle registration fee, fuel, paintwork and / or upholstery protection kits, insurance premiums (including this Premium), warranty premiums and any such associated costs and any Negative Equity.

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

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

  • 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.

  • Year 3 means the tax year preceding the current tax year.

  • Contract Month means a calendar month (or portion thereof) during the term of this Agreement. Contract Month 1 shall commence on the first day of the first calendar month following the Effective Date and end on the last day of that calendar month.