Overage Volume definition

Overage Volume means the volume difference between the Sales Volume for a Month less the Monthly Minimum Volume for such Month, but only if such volume difference is a positive number.
View Source

Examples of Overage Volume in a sentence

  • If the volume of Product loaded onto Customer’s Vessel exceeds the volume of Product Customer delivers into the System (such excess volume, the “Overage Volume”), Customer will deliver the Overage Volume to Magellan at MEH in the month following the Term.

  • If Customer fails to so deliver the Overage Volume, Magellan will purchase Product to cover the Overage Volume and Customer will pay Magellan an amount equal to Magellan’s actual cost to purchase the Overage Volume plus an administration fee equal to 15% of such purchase cost.

  • Notwithstanding the other provisions of Article III, to the extent a Shortfall Volume, Overage Volume or Supply Deficiency Volume is created during any Month during a Contract Year, a bank is hereby created (a “CO2 Bank”) to net out such volumes over time.

  • If Customer fails to so deliver the Overage Volume, ▇▇▇▇▇▇▇▇ will purchase Product to cover the Overage Form Revised August 30, 2019 Volume and Customer will pay Magellan an amount equal to ▇▇▇▇▇▇▇▇’s actual cost to purchase the Overage Volume plus an administration fee equal to 15% of such purchase cost.

  • If Customer fails to so deliver the Overage Volume, Magellan will purchase Product to cover the Overage FORM REVISED AUGUST 30, 2019 Volume and Customer will pay Magellan an amount equal to Magellan’s actual cost to purchase the Overage Volume plus an administration fee equal to 15% of such purchase cost.