Definition of Minimum Volume Commitment

  1. Minimum Volume Commitment means Customer's volume commitment set forth in Schedule A, subject to adjustment in accordance with Section 28.

Examples of Minimum Volume Commitment in a sentence

  1. For each Quarter during the Term, Customer shall be obligated to Tender for delivery into the TGP System a minimum volume of Customer Gas and Customer Injected NGLs (each such minimum amount, a Minimum Volume Commitment or MVC).
  2. Lot A District Lot 71 Minimum Volume Commitment to ship Cariboo District 900 via BC Rail carloads of lumber Plan PGP 45932 per year.

Definition of Minimum Volume Commitment in Transportation Services Agreement

Minimum Volume Commitment means Customer's volume commitment set forth in Schedule A, subject to adjustment in accordance with Section 28.


Definition of Minimum Volume Commitment in Fourth Amended and Restated Agreement

Minimum Volume Commitment means (i) for the period commencing on the Commencement Date through and until but not including, the date on which THPP completes and verifies the construction, connection and operational readiness of the new gathering pipeline from the High Plains System Connelly Station to the Marathon Connelly Hub (the "Marathon Gathering Completion Date"), a Monthly average of 22,000 bpd, (ii) for the period commencing on the Marathon Gathering Completion Date, through and until March 31, 2012, a Monthly average of 20,500 bpd; (iii) for the period commencing on April 1, 2012, through and until March 31, 2013, a Monthly average of 25,500 bpd and (iv) for the period commencing on April 1, 2013, through and until the end of the Term a Monthly average of 30,500 bpd; provided, however, that the Minimum Volume Commitment during the Month in which the Commencement Date occurs shall be prorated in accordance with the ratio of the number of days, including and following the Commencement Date, in such Month to the total number of days in such Month, and provided further, that if the Marathon Gathering Completion Date does not occur before April 1, 2012, then the applicable stated Minimum Volume Commitment shall be increased by 1,500 bpd until the Marathon Gathering Completion Date occurs.


Definition of Minimum Volume Commitment in Agreement

Minimum Volume Commitment means, pursuant to a gathering or similar agreement, a commitment of a third party to deliver specified minimum volumes of natural gas in a twelve month period to the gathering systems of the Partnership.