Nominal Committed Spend definition
Nominal Committed Spend means the start figure (excluding VAT) of the spend band for the Committed Spend, as set out in the relevant section of the BT Price List set out in in Paragraph 1.1 or the Order.
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Related to Nominal Committed Spend
Committed Shipper means a Shipper that has contracted for transporting a Committed Volume or otherwise paying the applicable Shortfall Payment, pursuant to the terms of a TSA executed by the Shipper during the open commitment periods that commenced on October 3, 2011, January 4, 2012, and December 21, 2018.
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.
Uncommitted Shipper means a Shipper that is not a Committed Shipper.
Committed Sum means, for any day, the maximum amount a Lender is committed on that day to lend to the Companies (or for their account) on a revolving credit basis pursuant to this Agreement, on its terms and subject to its conditions. From the Effective Date of this Agreement through the Termination Date or such other date (if any) when all or any of them is changed by operation of the provisions of any agreement or Legal Requirement, the Committed Sums for the Lenders are as set forth on Schedule LC, as it may be amended and restated from time to time.
Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.