Monthly Surplus definition

Monthly Surplus means, for any Month all or part of which is within the Guarantee Period, the amount equal to the product of (a) the Differential for such Month less U.S.$15.00 (if greater than zero) multiplied by (b) thirty-six and six tenths percent (36.6%) of the Contract Quantity delivered by Seller to Buyer in such Month (prorated for any Month which is only partly within the Guarantee Period); provided, however, that for purposes of determining any Monthly Surplus, in the event that the Completion Date has not been achieved on or before the Scheduled Completion Date or Buyer has underlifted under Article 8.1, then Seller shall be deemed to have delivered the entire Contract Quantity for such Month, less any volume the lifting of which is excused under Article 8.
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Monthly Surplus means, on the last day in any calendar month (commencing with the month ending on 30 November 2009), the aggregate of the Earnings of the Ship and the New Ships standing to the credit of the Earnings Account, the Additional Earnings Account and the New Earnings Accounts, after deducting the aggregate of the operating expenses of the Ship (including, without limitation, the general administrative expenses, the maintenance costs and the debt service amounts) and the New Ships which the Agent is satisfied (in its sole discretion) have accrued during that calendar month; and
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Monthly Surplus set out in Article 1 of the Maya Agreement is hereby amended to read in its entirety as follows:
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Examples of Monthly Surplus in a sentence

  • For purposes of calculating any Monthly Shortfall or Monthly Surplus.


More Definitions of Monthly Surplus

Monthly Surplus means, for any Month all or part of which is within the Guarantee Period, the amount equal to the product of (a) the Differential for such Month less U.S.$15.00 (if greater than zero) multiplied by (b) thirty-six and six tenths percent (36.6%) of the Contract Quantity delivered by Seller to Buyer in such Month (prorated for any Month which is only partly within the Guarantee Period); provided, however, that for purposes of determining any Monthly Surplus, (i) in the event that the Completion Date has not been achieved on or before the Guarantee Date, then Seller shall be deemed to have delivered the Contract Quantity determined in accordance with Article 7.1(b) as though Completion had been achieved, and (ii) in the event Buyer, on or after the Completion Date, has underlifted under Article 8.1, then Seller shall be deemed to have delivered the entire Contract Quantity for such Month less any volume the lifting of which is excused under Article 8.
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Related to Monthly Surplus

  • Distributable surplus means the Gains that has been realised on a marked to market basis and is carried forward to the balance sheet at market value, arising out of appreciation on investments which is readily available for distribution to the unit holders as Income.

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Reserve Account Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Capital Surplus has the meaning assigned to such term in Section 6.3(a).

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”