Minimum Volume Commitment or “MVC” has the meaning given such term in Section 6.1.
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.
Minimum Volume Commitment means any contract or analogous arrangement containing a “take-or-pay”, “ship-to-pay”, purchase and sale agreement, advance payment, prepayment or similar provision that (a) contains a commitment by the Borrower or any of the Subsidiaries to a minimum capacity in a gathering system, pipeline, compression, treatment, disposal or other midstream, downstream, transportation or similar facility or otherwise guarantees a fixed fee or minimum thru-put volume, minimum revenue or minimum return in respect of a marketing or purchase and sale arrangement or a gathering system, pipeline, processing, compression treatment, disposal or other midstream, downstream, transportation or similar facility or arrangement or the capital utilized to construct or acquire any of the foregoing, (b) includes an agreement by such Person to pay for such commitment regardless of whether such capacity or thru-put is actually utilized or otherwise pay for such fixed fee or guaranteed amount irrespective of the utilization of facilities or volumes provided for sale under a purchase and sale arrangement or similar marketing arrangement and (c) cannot be cancelled or terminated unless more than six (6) months’ advance notice is given; provided that, for the avoidance of doubt, any contract fulfilling the requirements of (a) and (b) but whose term is six (6) months or less shall not be a Minimum Volume Commitment.
Examples of Minimum Volume Commitment in a sentence
The Borrower shall not, nor shall it permit any of its Subsidiaries to, enter into any Minimum Volume Commitment without prior written consent of the Administrative Agent.
Prior to any Loan Party entering into a binding Minimum Volume Commitment, the Borrower shall deliver to the Administrative Agent notice of such Loan Party’s intention of entering into such Minimum Volume Commitment, along with drafts of the proposed agreement evidencing such Minimum Volume Commitment and such other documents and agreements as the Administrative Agent or any Lender may reasonably request in connection therewith.
More Definitions of Minimum Volume Commitment
Minimum Volume Commitment means any “ship or pay” or other similar arrangement where any Person (a) commits to utilize a minimum capacity in a pipeline or otherwise guarantees a minimum thru-put volume in respect of a pipeline, processing or other midstream facility and (b) agrees to pay for such capacity or thru-put regardless of whether such capacity or thru-put is actually utilized.
Minimum Volume Commitment shall have the meaning assigned to such term in Section 6.4.
Minimum Volume Commitment has the meaning given such term in Section 9.1.
Minimum Volume Commitment has the meaning set forth in Section 2(a)(i).
Minimum Volume Commitment means the minimum volume commitment of Equipment to be purchased by and delivered to Customer each quarter as set forth on Exhibit B.
Minimum Volume Commitment means 7,600 Barrels per Day multiplied times the number of Days during the applicable calendar Month. SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).
Minimum Volume Commitment or “MVC”. The MVC for the Quarters occurring in Year 2014 are set forth on Exhibit F attached hereto.