MTVF definition
Examples of MTVF in a sentence
If the Minimum Marine Throughput Volume and/or the Minimum Pipeline Throughput Volume are not met, then Customer shall receive a “Shortfall Credit” calculated as the difference between actual total volumes received during such Month and the Minimum Marine Throughput Volume and/or the Minimum Pipeline Throughput Volume multiplied by the sum of the MTVF and/or the Pipeline Use Fee, each on a per Barrel basis.
If, at any time during a Contract Year, the total per-Barrel fee paid by Customer to throughput Product across the Berths (including the MTVF, any pass-through costs, any OCR, any MPC, and any other fees) exceeds the total fees paid by any customer, other than Shell Lubes, for use of the Berths, Dock, Wharf, or Marine Terminal, then Operator shall refund Customer, on a per-Barrel basis, any excess paid by Customer in such Contract Year.
If the Aggregate Base Fee is less than the MTVF, then Customer shall receive a “Shortfall Credit” equal to such difference.
At such time as TLO is capable of throughputting a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity, Customer’s obligation to pay the full MTVF shall be restored.
If, during any Month, the actual volume of Barrels offloaded and throughput by TRMC are less than the Minimum Throughput Volume, then TRMC shall nevertheless pay to TLO the MTVF.
If the Base Fee is less than the MTVF, then TRMC shall receive a “Shortfall Credit” equal to such difference.
If the Heavy Oils Base Fee is less than the MTVF, then Customer shall receive a “Shortfall Credit” equal to such difference.
Upon Payment of the MTVF, TRMC shall receive a “Shortfall Credit” calculated as the difference between the Minimum Throughput Volume less the actual total volumes received during such month, multiplied by the sum of the MTVF, on a per Barrel basis.
To the extent TLO is prevented from throughput a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity for reasons of Force Majeure or other interruption of service, then Customer’s obligation to pay the MTVF shall be reduced proportionately.
If refining operations at the Refinery are suspended for any reason (including Refinery turnarounds and other scheduled maintenance), then Customer shall remain liable for the MTVF for the duration of the suspension.