Minimum Guaranteed Cargo definition
Minimum Guaranteed Cargo shall have the meaning ascribed to it in Article 7.1(a)(xii).
Minimum Guaranteed Cargo shall have the meaning ascribed to it in Article 6.17 “Month” means the calendar month as per the Gregorian calendar.
Minimum Guaranteed Cargo means the minimum cargo handling levels for a Facility fixed in terms of this Policy;
Examples of Minimum Guaranteed Cargo in a sentence
This would be added only where Minimum Guaranteed Cargo is specified.
However, if during the 2nd year of the O&M contract, actual Riverine Cargo throughput handled at the Terminal was less than the corresponding Minimum Guaranteed Cargo (MGC) slab as specified in Article 8.6.6., Operator shall pay the Authority a Royalty commensurate to the difference between Minimum Guaranteed Cargo and actual Riverine Cargo throughput handled at the Terminal during the 2nd year of the O&M contract.
In the event of shortfall in achieving Minimum Guaranteed Cargo, the Concessionaire shall pay the wharfage charges for the full Minimum Guaranteed Cargo.