Monthly Deficiency definition

Monthly Deficiency. As defined in Section 10(c) of the Development Agreement.
Monthly Deficiency shall have the meaning set forth in Section 3.6.
Monthly Deficiency means for each Month the product obtained by multiplying (a) the aggregate amount, if any, by which the quantity of Production Payment Hydrocarbons actually received by, or sold on behalf of, Royalty Owner during such Month (with Gas calculated in MMBtu and Oil calculated in MMBtu Equivalents) is less than the Scheduled Quantity for such Month times (b) the Field Price of Gas for such Month.

Examples of Monthly Deficiency in a sentence

  • Monthly Deficiency Report: Contractor shall submit a monthly deficiency report to COTR identifying all substandard tests and inspections taken during the month including the nature of the test or inspection, location and nature of defects, causes for rejection, and remedial actions taken or proposed for any open items on prior deficiency reports including the date scheduled for resolution of the item.

  • If monthly Gas Consumption exceeds monthly gas receipts for a customer's account, a Monthly Deficiency Imbalance results and if monthly gas receipts exceed monthly Gas Consumption, a Monthly Excess Imbalance results.

  • Monthly Deficiency Report: 2 copies within two working days of the end of the month.

  • In the exchange, a Monthly Deficiency Imbalance may be exchanged for a Monthly Excess Imbalance of equal quantity.

  • Monthly Deficiency Report: 1 Original electronic or hard copy within two working days of the end of the month.

  • Monthly Deficiency Report: 1 original electronic or hard copy, within two working days of the end of the month.

  • During the Term, and subject to Rule 17(B) and Rule 22(C), if Shipper has an Actual Monthly Deficiency Volume at the end of a given Month, then Shipper shall pay to Carrier an amount equal to the product of (i) the Adjusted Monthly Deficiency Volume for such Month and (ii) the Throughput Fee in effect for such Month which would have applied to Shipper’s volume had Shipper shipped its full Monthly Volume Commitment (such product being the “Deficiency Payment”).

  • In no event, however, shall Shipper be deemed to have an Adjusted Monthly Deficiency Volume greater than its Actual Monthly Deficiency Volume.

  • If, in a given Month, Shipper’s Actual Monthly Deficiency Volume and the Aggregate Co-op Deficiency are both greater than zero, then Shipper’s Adjusted Monthly Deficiency Volume shall be the Aggregate Co-op Deficiency divided by the sum of the Actual Monthly Deficiency Volumes of all Primary Committed Shippers multiplied by Shipper’s Actual Monthly Deficiency Volume.

  • Assumptions: (1) the Aggregate Co-op Deficiency = 150,000 – 125,000 = 25,000 BPD; (2) the Sum of Actual Monthly Deficiency Volumes of All Primary Committed Shippers = 87,500; and (3) Co-op Deficiency Ratio = 25,000 divided by 87,5000 = .2857.


More Definitions of Monthly Deficiency

Monthly Deficiency means for each Month the product obtained by multiplying (a) the aggregate amount, if any, by which the quantity of Production Payment Hydrocarbons actually received by, or sold on behalf of, Royalty Owner during such Month is less than the Scheduled Quantity for such Month times (b) the Field Price of Oil for such Month.

Related to Monthly Deficiency

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Xxxxxx, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Gas Supply Deficiency means any occurrence relating to Seller's gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Seller's gas supply.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Advance Deficiency As defined in Section 4.01(b).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

  • Deficiency Payment has the meaning set forth in Section 9(a).

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Net Proceeds Deficiency shall have the meaning set forth in Section 7.4 hereof.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Erroneous Payment Deficiency Assignment has the meaning assigned to it in Section 10.10(d).

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.