Monthly Minimum Volume Commitment definition

Monthly Minimum Volume Commitment means the volume of Ethane a Committed Shipper has committed to ship each Month on the System, as set forth in the Committed Shipper’s TSA.
Monthly Minimum Volume Commitment for any Month means the product of (a) the Minimum Volume Commitment, and (b) the number of days in such Month.
Monthly Minimum Volume Commitment means the product of the minimum daily volume commitment of Crude Petroleum for a specified Path (as defined in such Committed Shipper’s TSA) on the Pipeline set out in Schedule A to a Committed Shipper’s TSA and the number of days in the relevant month.

Examples of Monthly Minimum Volume Commitment in a sentence

  • Except as otherwise provided in Section 3.D(i)(a) of a Committed Shipper’s TSA, in addition to paying any transportation fees owed to Carrier during a month under Part III(A) of this tariff, a Committed Shipper shall also be responsible for paying a “Demand Fee” each Month to Carrier, which shall equal $1.944 per Barrel multiplied by the Committed Shipper’s then-applicable Monthly Minimum Volume Commitment, which commitment amount is set forth in Exhibit G of the Committed Shipper’s TSA.

  • Under normal operating conditions, each Committed Shipper will be allocated an amount of capacity equaling the lesser of: (i) its Nomination for the Proration Month, or (ii) its Monthly Minimum Volume Commitment.

  • Uncommitted volumes will include volumes in excess of the Monthly Minimum Volume Commitment under this Agreement.

  • In the event that Committed Shippers do not fully nominate their Monthly Minimum Volume Commitment, that unused capacity will be made available to accommodate Nominations made by Uncommitted Shippers.

  • Nominations from Committed Shippers up to the level of their Monthly Minimum Volume Commitment will not be subject to proration under normal operating circumstances.

  • During the term of their TSAs Committed Shippers shall be required to maintain a share of Required Inventory based on their Monthly Minimum Volume Commitment, whether or not such Committed Shippers Nominate for shipments on the Pipeline.

  • If a Nomination from a Committed Shipper for the month is less than its Monthly Minimum Volume Commitment, the Committed Shipper will be allocated only the amount of its Nomination, still subject to the deficiency obligation as determined within its TSA.

  • Prorationing of System Capacity Prior to Project In-Service DateEach Committed Shipper’s TSA specifies that the Committed Shipper’s Monthly Minimum Volume Commitment will become effective as of the Project In-Service Date.

  • Without regard to the other provisions of this Proration Policy, except as provided below in Section I.b., Carrier shall allocate each Committed Shipper an amount of capacity equal to the Committed Shipper’s Monthly Minimum Volume Commitment, provided that the Committed Shipper’s Nomination for the Proration Month corresponds to the Committed Shipper’s Monthly Minimum Volume Commitment in all respects.

  • Commencing on the Commencement Date, during each Month of the Term, Shipper shall Ship, or pay a Deficiency Payment for failure to Ship, its Monthly Minimum Volume Commitment, in accordance with the provisions of this Agreement.


More Definitions of Monthly Minimum Volume Commitment

Monthly Minimum Volume Commitment means Shipper’s Minimum Volume Commitment in the applicable Month multiplied by the number of days in the applicable Month.
Monthly Minimum Volume Commitment means, for any Committed Shipper, such Committed Shipper’s Minimum Volume Commitment multiplied by the number of calendar days in the relevant Proration Month.

Related to Monthly Minimum Volume 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.

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

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

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Contract Quantity means the quantity of Delivered Energy expected to be delivered by Seller during each Contract Year as set forth in Section 3.1(e).

  • Type B quantity means a quantity of radioactive material greater than a Type A quantity.

  • Type A quantity means a quantity of radioactive material, the aggregate radioactivity of which does not exceed A1 for special form radioactive material or A2 for normal form radio- active material, where A1 and A2 are given in Appendix O or may be determined by procedures described in Appendix O.

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

  • Base Capacity Demand Resource Price Decrement means, for the 2018/2019 and 2019/2020 Delivery Years, a difference between the clearing price for Base Capacity Demand Resources and Base Capacity Energy Efficiency Resources and the clearing price for Base Capacity Resources and Capacity Performance Resources, representing the cost to procure additional Base Capacity Resources or Capacity Performance Resources out of merit order when the Base Capacity Demand Resource Constraint is binding.

  • Real-Time Commitment means NYISO’s multi-period security constrained unit commitment and dispatch model, as defined in the NYISO Tariffs.

  • Daily Quantity means the quantity of waste discharged during an operating day.

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

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

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

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $10,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • PJM Region Peak Load Forecast means the peak load forecast used by the Office of the Interconnection in determining the PJM Region Reliability Requirement, and shall be determined on both a preliminary and final basis as set forth in Tariff, Attachment DD, section 5.

  • Replenishment Amount has the meaning assigned to such term in Section 2.06(b).

  • Required Quantity in a unit price Contract shall mean the actual quantity of any item of Work or materials which is required to be performed or furnished in order to comply with the Contract.

  • Base Capacity Resource Price Decrement means, for the 2018/2019 and 2019/2020 Delivery Years, a difference between the clearing price for Base Capacity Resources and the clearing price for Capacity Performance Resources, representing the cost to procure additional Capacity Performance Resources out of merit order when the Base Capacity Resource Constraint is binding.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • 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:

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).