Quality Bank definition

Quality Bank means a system of calculations administered under the authority of the FERC that accounts for the differences in value between the individual tendered streams and the delivered co-mingled stream of TAPS.
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Examples of Quality Bank in a sentence

  • Monarch agrees to keep Shipper whole should commingling result in a deviation in Shipper’s average Gravity delivered to the Pipeline through implementation of a Quality Bank as set forth in Monarch’s Rules and Regulations Tariff.

  • If Shipper’s Crude Oil is commingled in the Facilities with Crude Oil belonging to Third Parties, then the quality Shipper’s Crude Oil and any Third Party Crude Oil gathered and transported on the Facilities will be determined and settled in accordance with Gatherer’s Quality Bank Policy, as may be amended from time to time, and attached as Exhibit F.

  • Gatherer shall administer the Quality Bank and shall perform, or cause to be performed, the clearinghouse business of calculating and effecting adjustments using a process of debits, credits and interchange of funds among all shippers on the System.

  • Monarch and Shipper shall measure Crude Oil delivered hereunder as provided in accordance with Monarch’s Rules and Regulations Tariff and pursuant to the Quality Bank set forth in Monarch’s Rules and Regulations Tariff.

  • The Company-Union Committee for the Group Life and Disability Insurance Program (established according to the provisions of Section 19) shall meet periodically to discuss and review any problems brought to the attention of the Company by the International Union with respect to such examiners.

  • Phase Developer shall prepare and preferably complete the water quality banking tracking system as noted in Exhibit 6 Article 13 Section 13.6.3 (Water Quality Bank).

  • The forms referred to above constitute the documents on which Tariff and Quality Bank Adjustment calculations will be made, and they shall serve as probative documents for any other purpose.

  • The successful bidder shall maintain Material Safety Data Sheets (MSDS) which shall be made available to management, cleaning staff, and building occupants upon request in a timely fashion.

  • With respect to any monetary adjustments due the Magnolia Owners or the Producer pursuant to Article 7.3 (Quality Bank) of this Agreement, each of the Magnolia Owners or Producer, as applicable, will be responsible for any payments invoiced by the Magnolia TLP Operator.

  • At each point of the Oleoducto Central where two streams of Petroleum are commingled for the purpose of transportation, a Quality Bank Adjustment will be established at the request of any Initial Shipper affected by such commingling of Petroleum.