Overrun Rate definition
Overrun Rate has the meaning given in clause 11.1(b).
Overrun Rate means the Monthly charge per MMBtu payable by Customer for Customer Inventory in excess of Customer’s Capacity Demand, as determined by Katy in its reasonable discretion.
Examples of Overrun Rate in a sentence
In addition to any charge payable under clause 11.1, if the Shipper does not comply, or procure compliance, with an Unavailability Notice in accordance with clause 11.4, the Shipper must pay, in accordance with clause 20, an Unavailable Overrun Charge at the Unavailable Overrun Rate for each GJ of Gas taken by the Shipper in excess of the quantity of Overrun Gas specified in the Unavailability Notice as being available to the Shipper.