Quarterly Surplus definition

Quarterly Surplus means, with respect to any Quarter, the amount, if any, by which the Formula Price exceeds the Maya parity price calculated in accordance with Exhibit 4;
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Quarterly Surplus means has the meaning set forth in the Long-Term Oil Supply Agreement.
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Quarterly Surplus means, with respect to any Quarter, the amount, if any, by which (i) the sum of the Monthly Surpluses in such Quarter exceeds (ii) the sum of the Monthly Shortfalls in such Quarter.
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Examples of Quarterly Surplus in a sentence

  • This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein.

  • This Section 10 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein.

  • Each Monthly Statement immediately following the last Month in each Calendar Quarter shall include a report that sets forth the amount of Quarterly Deficiency Volume, if any, or Quarterly Surplus Volume, if any, and any Quarterly Deficiency Payment that may be due and payable by Customer.

  • For the avoidance of doubt, to the extent any Quarterly Deficiency Payment is applied to any Quarterly Surplus Volumes (such volumes being referred to as “Pre-Paid Volumes”), the Throughput Charge for such Pre-Paid Volumes shall be the Tier 1 Rate for the Calendar Quarter in which such Quarterly Deficiency Payment was made.

  • Each Monthly Statement immediately following the last Month in each Calendar Quarter shall include a report that sets forth the amount of the Quarterly Deficiency Volume, if any, or Quarterly Surplus Volume, if any, and any Quarterly Deficiency Payment that may be due and payable by Shipper.

  • Each Monthly Statement immediately following the last Month in each Calendar Quarter shall include a report that sets forth the amount of the Quarterly Deficiency Volume, if any, or Quarterly Surplus Volume, if any, and any Quarterly Deficiency Payment that may be due and payable by Customer.

  • Within 10 Days after the end of each Month, Carrier shall provide Shipper with a statement (a “Monthly Statement”) for such preceding Month, which statement shall include, for each Product: (i) the volume injected into the Pipeline at an Origin Point, (ii) the applicable Rate, (iii) any volume losses or gains (if calculated hereunder), and (iv) the aggregate dollar amount due to Carrier (after application of any Quarterly Surplus Volume credit to which Shipper may be entitled pursuant to the Schedule).

  • For the avoidance of doubt, to the extent any Quarterly Deficiency Payment is applied to any Quarterly Surplus Volumes (such volumes being referred to as “Pre-Paid Volumes”), the Transportation Rate for such Pre-Paid Volumes shall be the Tier 1 Rate for the Calendar Quarter in which such Quarterly Deficiency Payment was made.

  • The Tier 1 Rate and Tier 2 Rate may be referred to collectively or individually as the “Throughput Charge.” For the avoidance of doubt, to the extent any Quarterly Deficiency Payment is applied to any Quarterly Surplus Volumes (such volumes being referred to as “Pre-Paid Volumes”), the Throughput Charge for such Pre-Paid Volumes shall be the Tier 1 Rate for the Calendar Quarter in which such Quarterly Deficiency Payment was made.

  • The Quarterly Surplus Amount shall be aggregated for each Quarter, less all amounts of the Quarterly Surplus Amount applied to increase the Target’s Net Income Before Taxes.