Shortfall Volume definition

Shortfall Volume means the volume difference between the Sales Volume for a Month less the Monthly Minimum Volume for such Month, but only if such volume difference is a negative number. “Shortfall Volume” also includes any Start Up Not Taken Volumes.
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Shortfall Volume. , in relation to any OOC, shall mean the volume of refined petroleum products, in combination or individually as the case may be, required by that OOC for the inland market, and inland for the export market, at the relevant time in excess of the volume that can reasonably be transported through the then existing pipeline infrastructure together with such utilisation of the rail and road transportation infrastructure as is used by the OOC concerned at the time the merger is approved;
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Shortfall Volume shall have the meaning ascribed thereto as set forth in Section 3.2 hereinafter.
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Examples of Shortfall Volume in a sentence

  • For the avoidance of doubt, Buyer, in its sole discretion, may choose to withdraw Gas stored by it or on its behalf in CINGSA (or any other storage facility), up to the Delivery Shortfall Volume (“CINGSA Gas Substitution”), and in such circumstance Buyer may attempt to replace the Gas representing such CINGSA Gas Substitution via Cover.

  • For the avoidance of doubt, Seller, in its sole discretion, may choose to inject Gas in Seller’s Gas storage facility, up to the Receipt Shortfall Volume (“Storage Gas Alternative”), and in such circumstance Seller shall attempt to sell the Gas representing such Storage Gas Alternative via Cover.

  • Buyer replaces 100,000 Mcf Delivery Shortfall Volume by purchasing gas from other Supplier(s).

  • In the event Seller --------------------------------------------- fails to delivery the Nominated Volume by Buyer in the accordance with Article 3.02 of this Agreement ("Seller's Shortfall"), then Seller agrees that Buyer shall be entitled to purchase substitute product in an amount equal to the difference between the Nominated Volume and the Actual Volume delivered by Seller ("Seller's Shortfall Volume").

  • Notwithstanding the other provisions of Article III, to the extent a Shortfall Volume, Overage Volume or Supply Deficiency Volume is created during any Month during a Contract Year, a bank is hereby created (a “CO2 Bank”) to net out such volumes over time.

  • No later than ten (10) Business Days following the end of each calendar quarter during the Term, the Company shall provide Baker Hughes with a certificate setting forth in reasonable detail its purchases during the year-to-date of all White Sand from Unimin, its purchases of all White Sand from all other providers, if any, and the calculation of any Shortfall Volume, if any, and the calculation of any Liquidated Damages.

  • Buyer is liable to Seller for, and Seller’s sole remedy is, the positive difference between the Sales Price applicable that Year ($7.55 per Mcf) and the weighted average sales price received by Seller for such sales Gas ($6.25 per Mcf), or $1.30 per Mcf multiplied by the Receipt Shortfall Volume (100,000 Mcf), for a total of $130,000.

  • Seller sells the entire 100,000 Mcf Receipt Shortfall Volume to a third party via Cover at a weighted average sales price of $6.25 per Mcf.

  • If a Buyer's Shortfall ---------------------------------- occurs, Buyer shall make its best efforts with no obligation or whatsoever, to receive the Buyer's Shortfall Volume during one or more of the following Months on the basis of Article 3.02.

  • Seller sells the entire 100,000 Mcf of Receipt Shortfall Volume to a third party via Cover at a weighted average sales price of $8.00 per Mcf.


More Definitions of Shortfall Volume

Shortfall Volume also includes any Start Up Not Taken Volumes.
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