Reservation Charge definition
Examples of Reservation Charge in a sentence
A new reservation may be activated by payment of the Reservation Charge, but it will take a new priority based on the time of reactivation.
In this case, an Option Party may enforce its reservation by payment of the recurring Physical Collocation floor space charge otherwise applicable to the reserved space (in lieu of the non-recurring Reservation Charge) and occupying such space within the time limits specified in Section 12.12.11.
In the event that the actual quantity delivered, the Alternate Commodity Price or the Reservation Charge is not known at the time the invoice is rendered, an estimated quantity, Alternate Commodity Price and Reservation Charge, based on the best available information, shall be used.
When the actual quantity, Alternate Commodity Price or Reservation Charge becomes known and if an adjustment is necessary, an invoice containing the adjustment for the difference between the actual value and the estimated value will be rendered.
If during any month Seller sells and delivers less than ninety percent (90%) of the Nominated Quantity multiplied by the number of days in the month, except to the extent excused under the provisions of this Agreement or due to Buyer's unexcused failure to receive, then Buyer shall be relieved of its obligation to pay Seller the Reservation Charge set forth in Section 5.2 for the entire month during which such supply failure occurred.