Retention Volume definition
Examples of Retention Volume in a sentence
Shipper will tender the Scheduled Quantity at the Receipt Point(s), and accept such Gas, less the Retention Volume, at the Delivery Point(s).
All quantities of Gas received and delivered under any Confirmation will be expressed in terms of MMBtu, including, without limitation, calculation of payments, determination of imbalances, and determination of Retention Volume.
During such an extended term, XTO shall only pay the Retention Volume on the gas so transported.
Any variance or imbalance between the quantity of Gas delivered at the Delivery Point(s) and the quantity of Gas received at the Receipt Point(s) (less the Retention Volume) during a given Day (the "Daily Imbalance") will be recorded in a gas imbalance account, the cumulative balance of which shall be the "Cumulative Operational Imbalance".
The fee for such allocated quantities to Texoma will be a Demand Fee of $XXXX per MMBtu, and Retention Volume of XXXX%.
If ETF’s operating pressure exceeds XXXX psig for ten consecutive days, XTO shall be obligated to pay only the Retention Volume on only the amount of Gas that actually flowed during the time period in which the operating pressure exceeded XXXX psig.
In addition to the Transportation Fees and other charges payable under this Statement of Operating Conditions, the Service Agreement or its applicable Confirmation, Transporter will retain the percentage designated in the applicable Confirmation of the quantity of Gas received by Transporter at each Receipt Point(s) to compensate Transporter for fuel and lost and unaccounted for gas (the "Retention Volume").
Transporter will receive Gas up to the Scheduled Quantity at the Receipt Point(s) as nominated and tendered by Shipper under the terms of this Statement of Operating Conditions, the Service Agreement, its applicable Confirmation, and any Agency Agreement, transport the Gas, and deliver Gas to Shipper at the Delivery Point(s), less the Retention Volume as set forth in Section 9.2 of this Statement of Operating Conditions.
Any variance or imbalance between the quantity of Gas delivered at the Delivery Point(s) and the quantity of Gas received at the Receipt Point(s) (less the Retention Volume) during a given Day will be recorded in a gas imbalance account, the cumulative balance of which shall be the “Cumulative Operational Imbalance”.
Transporter will receive Gas up to the Scheduled Quantity at the Receipt Point(s) as nominated and tendered by Shipper under the terms of this Statement of Operating Conditions, the Service Agreement, and its applicable Confirmation, transport and deliver an equivalent quantity of Gas, in MMBtu, to Shipper at the Delivery Point(s), less the Retention Volume as set forth in Section 8.2 of this Statement of Operating Conditions.