Examples of PNG Pipeline in a sentence
In the event PNGPC increases the certificated capacity of the PNG Pipeline, PNGPC agrees that the transportation rate payable by PRC under the FT Agreement shall be proportionately reduced to reflect the new capacity.
The Initial Transportation Rate under this Agreement shall be $0.39 per dekatherm and Shipper and Transporter agrees that such rate shall adjust to (i) reflect the change in the costs of the PNG Pipeline between the time of execution of this Agreement and the time when the PNG Pipeline is placed in-service and the abandonment of the Existing Pipeline is completed and (ii) an expansion of the PNG Pipeline to accommodate additional shippers.
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Shipper shall not be obligated to pay any other charges such as a commodity rate, ACA and any other additional authorized charges or surcharges applied pursuant to any FERC approved Gas Tariff applicable to PNG Pipeline (the “Tariff”) other than a charge for lost and unaccounted for gas (“L&U”) to be determined on an annual basis.
Shipper shall also hold a one-time contractual right of first refusal (“ROFR”), effective at the end of the Initial Term, to be applicable to any portion of the quantity, exercisable upon sixty (60) days’ notice or such lesser notice provisions included in the tariff then applicable to the PNG Pipeline.
PNGPC, subject to the terms and conditions set forth in this Precedent Agreement, will: (1) seek the remaining governmental and regulatory authorizations which are required in order to construct the PNG Pipeline and provide the firm transportation service contemplated under the FT Agreement, (2) obtain all necessary easements and rights of way and (3) design, engineer, construct, install, test, inspect, operate, own and maintain the PNG Pipeline.
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PNGPC shall file and prosecute any and all applications for such pipeline authorizations in connection with the PNG Pipeline, including any supplements or amendments thereto and, if necessary, any petition for court review; provided, however, PNGPC shall pursue the PNGPC Authorizations in a manner designed to provide the firm transportation service contemplated herein in a timely manner.
For a period commencing on the in-service date of the PNG Pipeline, and ending five (5) calendar years later, to the extent that the certificated capacity of the PNG Pipeline is increased and subject to availability, PRC shall have the right to elect on three (3) occasions to increase its MVC (as defined in the FT Agreement) up to the remaining unsubscribed capacity of the PNG Pipeline at PRC’s transportation rate as set forth on Exhibit A.
In addition to the Annual Fee, Operator shall pay to the Company a monthly fee of $21,406.92 commencing following the Commencement Date and continuing until the date on which the 24” PNG Pipeline is placed into service.