Definition of Minimum Volume Commitment


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

Examples of Minimum Volume Commitment in a sentence

Minimum Volume Commitment means 7,600 Barrels per Day multiplied times the number of Days during the applicable calendar Month.
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).
Adjusted Minimum Volume Commitment means Tesoros Minimum Throughput Commitment, adjusted by deducting the applicable Stipulated Volume for each Terminal that is no longer subject to this Agreement at any time.
Customer shall not be relieved of its obligation to pay Deficiency Payments if an event of Customer Force Majeure prevents Customer from delivering to the Connecting Pipeline, or accepting delivery from the Connecting Pipeline, the Minimum Volume Commitment.
Monthly Volume Shortfall for any Month shall mean the number of Barrels by which the Minimum Volume Commitment for such Month exceeds the actual Barrels of Crude Petroleum delivered to Marlin at the Wildcat Transloading Facility during such Month.