Shortfall Payment definition

Shortfall Payment has the meaning specified in Section 3.7.

Shortfall Payment has the meaning set forth in Section 7(b).

Shortfall Payment has the meaning set forth in Section 2.2(c).

Examples of Shortfall Payment in a sentence

• In the event a Committed Shipper fails to Nominate and deliver a volume of Crude Petroleum equal to or greater than its Monthly Volume, it shall nevertheless pay to the Carrier the Shortfall Payment in accordance with the TSA.

• MRDM and the Corporation have elected to defer payment of the Production Shortfall Payment accordingly.

• Payment of any fee or Shortfall Payment pursuant to this Section 3.8 shall be made by wire transfer of immediately available funds to an account designated in writing by the Operator.

• In the event of such major casualty or condemnation, the Company shall have no obligation to pay the Major Shortfall Payment.

• MRDM and the Corporation have received notice from Macquarie Bank for payment of the Production Shortfall Payment.

More Definitions of Shortfall Payment

Shortfall Payment has the meaning set forth in Section 2.4(e).

Shortfall Payment means an amount determined by taking the product of (i) the Shortfall multiplied by

Shortfall Payment has the meaning set forth in Exhibit B.

Shortfall Payment shall have the meaning assigned to such term in Section 6.5(a).

Shortfall Payment shall have the meaning provided in Section 2.8(j).

Shortfall Payment as defined in Section 8.3.

Shortfall Payment means, without duplication, (i) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall of the amount payable or allocable pursuant to the Priority of Payments for a Weekly Allocation Date due to a lack of Canadian Collections of the Canadian Co-Issuer or U.S. Collections of the Issuer, as applicable, (ii) any payments or allocations of the Issuer on account of U.S. Dollar-denominated expenses of the Canadian Co-Issuer that are applied to fund a shortfall pursuant to the Priority of Payments for a Currency Conversion Opt-Out Weekly Allocation Date due to a lack of U.S. Dollar-denominated Canadian Collections of the Canadian Co-Issuer, (iii) any payments from the funds of the Issuer or Canadian Co-Issuer, as applicable, that are made to fund a shortfall on account of the other Co-Issuer on a Quarterly Payment Date due to a lack of funds in any Indenture Trust Account of a Co-Issuer and (iv) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall on account of the other Co-Issuer for any other purpose not set forth in clauses (i)-(iii). Shortfall Payments paid (except for Canadian Direct Payment Amounts paid to the Canadian Manager or a third party, in each case, pursuant to the Priority of Payments or pursuant to priority (v) or (xix) of the Priority of Payments) or allocated on a Currency Conversion Opt-Out Weekly Allocation Date may initially be denominated in a different currency than the currency of such payment or obligation.