Minimum Tankage Revenue Commitment definition

Minimum Tankage Revenue Commitment has the meaning set forth in Section 2(b)(i).
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Minimum Tankage Revenue Commitment shall be an amount of revenue to El Dorado Logistics for each Contract Quarter determined by multiplying the Minimum Tankage Throughput by the Tankage Base Tariff as such Tankage Base Tariff may be revised pursuant to Section 2(b)(iii), Section 2(m), and Section 2(n). Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Tankage Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter. Subject to (i) any Applicable Law and (ii) technical specifications of the Tankage, Frontier El Dorado may request that El Dorado Logistics change the service of any of the Tankage from storage of one Product to storage of a different Product. If El Dorado Logistics agrees to such request, Frontier El Dorado shall indemnify and hold El Dorado Logistics harmless from and against all costs and expenses associated with any such changing of service including but not limited to costs of complying with any Applicable Law affecting such change of service.
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Minimum Tankage Revenue Commitment shall be an amount of revenue to El Dorado Logistics for each Contract Quarter determined by multiplying the Minimum Tankage Throughput by the Tankage Base Tariff applicable to such Contract Quarter as such Tankage Base Tariff may be revised pursuant to Section 2(b)(iii), Section 2(b)(iv), Section 2(m), and Section 2(n). Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Tankage Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter. In the event that the Tankage Base Tariff is changed and such change is effective on any date other than the first day of a Contract Quarter, then the Minimum Tankage Revenue Commitment for such Contract Quarter shall be calculated by applying the prior Tankage Base Tariff to the portion of the Contract Quarter occurring before the date of the change and the Tankage Base Tariff as changed to the portion of the Contract Quarter occurring on and after the date of the change. Subject to (i) any Applicable Law and (ii) technical specifications of the Tankage, Frontier El Dorado may request that El Dorado Logistics change the service of any of the Tankage from storage of one Product to storage of a different Product. If El Dorado Logistics agrees to such request, Frontier El Dorado shall indemnify and hold El Dorado Logistics harmless from and against all costs and expenses associated with any such changing of service including but not limited to costs of complying with any Applicable Law affecting such change of service.
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Examples of Minimum Tankage Revenue Commitment in a sentence

  • In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount.

  • The principal objective of El Dorado Logistics is for Frontier El Dorado to meet or exceed its obligations with respect to the Minimum Pipeline Delivery Revenue Commitment, to meet or exceed its obligations with respect to the Minimum Tankage Revenue Commitment, and to meet or exceed its obligations with respect to the Minimum Loading Rack Revenue Commitment.

  • The Parties agree that if they mutually determine to remove a tank included in the Tankage from service, then El Dorado Logistics will not be required to utilize, operate or maintain such tank or provide the services required under this Agreement with respect to such tank (and there will be no adjustment to the Minimum Tankage Revenue Commitment).

  • In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, Cheyenne Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount.

  • The principal objective of Cheyenne Logistics is for Frontier Cheyenne to meet or exceed its obligations with respect to the Minimum Crude Oil Receiving Facility Revenue Commitment, to meet or exceed its obligations with respect to the Minimum Tankage Revenue Commitment, and to meet or exceed its obligations with respect to the Minimum Loading Rack Revenue Commitment.

  • In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX.

  • In the event that such aggregate operating expenses are less than the Assumed OPEX, Cheyenne Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX.

  • The Parties agree that if they mutually determine to remove a tank included in the Tankage from service, then Cheyenne Logistics will not be required to utilize, operate or maintain such tank or provide the services required under this Agreement with respect to such tank (and there will be no adjustment to the Minimum Tankage Revenue Commitment).

  • Notwithstanding the previous sentence, any deficiency owed by Frontier El Dorado due to its failure to satisfy the Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any Contract Quarter shall be offset by any revenue owed to El Dorado Logistics in excess of the Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment for such Contract Quarter.

  • Notwithstanding the previous sentence, any deficiency owed by Frontier Cheyenne due to its failure to satisfy the Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any Contract Quarter shall be offset by any revenue owed to Cheyenne Logistics in excess of the Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment for such Contract Quarter.

Related to Minimum Tankage Revenue Commitment

  • 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.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Available Commitment means a Lender’s Commitment minus:

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.

  • Maximum Commitment Amount means Five Million Dollars ($5,000,000).

  • Anticipated State average revenue availability per student means the sum of all anticipated total county revenue availability divided by the average daily membership for the State.

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • PJM Region Installed Reserve Margin means the percent installed reserve margin for the PJM Region required pursuant to RAA, Schedule 4.1, as approved by the PJM Board. PJM Region Peak Load Forecast:

  • Anticipated total county revenue availability per student means the anticipated total county revenue availability for the county divided by the average daily membership of the county.

  • L/C Commitment Amount has the meaning given to that term in Section 2.3.(a).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Tax increment revenues means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the zone. Tax increment revenues do not include any of the following:

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Aggregate Revolving Commitment means the sum of the Revolving Commitments of all the Revolving Lenders.

  • Revolving Commitment Amount means $125,000,000, as reduced from time to time pursuant to Section 6.1.

  • Available Commitments shall refer to the aggregate of the Lenders’ Available Commitments hereunder.

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • Required Daily Deposit Target Principal Amount means, for any day in a Due Period, (i) if such Due Period is in [the Accumulation Period for the Class A( - ) Notes, the Accumulation Amount], (ii) if such day is on or after the occurrence and during the continuance of a Class A( - ) Adverse Event, the Nominal Liquidation Amount of the Class A( - ) Notes, and (iii) in all other circumstances, zero.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Aggregate Revolving Committed Amount means the aggregate amount of Revolving Commitments in effect from time to time, being initially ONE HUNDRED FIFTY MILLION DOLLARS ($150,000,000).