OPEX definition
Examples of OPEX in a sentence
Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.
Commencing on the OPEX Commencement Date, and continuing thereafter on the first day of each month during the Term, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate.
In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, HEP Storage-Tulsa shall increase the Group 2 Tankage Base Tariff by an additional amount necessary to increase the Minimum Group 2 Tankage Revenue Commitment by the Group 2 Assets OPEX Recovery Amount.
Such Group 1 Assets OPEX Recovery Amount shall be added to the then-current Group 1 Assets Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such Group 1 Assets OPEX Recovery Amount to the Group 1 Assets Assumed OPEX.
In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX.