Swing Gas definition

Swing Gas means a quantity of Gas (either positive or negative) which Counterparty may nominate for delivery no later than 8:00 a.m. CCT on the last Business Day prior to the day(s) of Gas flow. Upon a proper nomination, the Parties’ obligations to deliver and receive Swing Gas shall be Firm, and Manager shall commit to deliver and receive Swing Gas at a price using the methodology set forth in Article IV and as shown in Exhibit G.
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Swing Gas means Gas to be sold and purchased hereunder on a Firm basis at a Delivery Rate in excess of the Delivery Rate applicable to Base Gas, pursuant to Buyer’s explicit nomination of such Gas for delivery at such a Delivery Rate. For the avoidance of doubt, Buyer shall not be obligated to accept and purchase Swing Gas except as expressly set forth as a Swing Gas purchase in Buyer’s nominations and schedules provided to Seller hereunder.
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Swing Gas has the meaning set forth in Section 3(a).
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Examples of Swing Gas in a sentence

  • The Service Provider will make Swing Gas available at a specified Delivery Point for so long as the relevant User's proportionate share of the Service Provider's deliverability from the Line Pack at the specified Delivery Point is available.

  • For Turnback Natural Gas that the Customer elects to turn back by the deadline for Swing Gas, for the same day of flow, the amount credited to Customer’s account shall be lowest of the published Natural Gas Daily Midpoint Index prices for FGT Zones 1, 2 or 3 for the day the Natural Gas is to be turned back, reduced by an additional $0.5 per MMbtu.

  • Gas For Turnback Natural Gas that the Customer elects to turn back by the deadline for Swing Gas for the same day of flow, the amount credited to Customer’s account shall be lowest of the published Natural Gas Daily Midpoint Index prices for FGT Zones 1, 2 or 3 for the day the Natural Gas is to be turned back, reduced by an additional $0.5 per MMbtu.

  • The difference in the quantity scheduled and the quantity of gas so delivered is referred to as "Swing Gas".

  • As described above, Swing Gas consists of Day-ahead and Intraday Gas and is the gas used by the Company that is most subject to the price volatility in the market during the 2021 Winter Event.

  • At NMGC, Swing Gas can be sourced three ways: Storage Gas, Day-ahead Gas (i.e. gas purchased a day ahead of need in the “day ahead” market), and Intraday Gas (i.e. gas purchased on the day needed in the “intraday market”).

  • The Parties to this Enabling Agreement agree that values in respect of the Performance Driven Payment to be recovered by the Contractor shall be invoiced on a basis agreed by both Parties.

  • NMGC’s WACOG is impacted by prices charged to the Company for Swing Gas including Day-ahead Gas and Intraday Gas.

  • Second, as shown in Column C of Exhibit 7, NMGC determined the actual cost of the Swing Gas on each day of the Event.

  • Therefore, we only considered Swing Gas when determining the extraordinary cost.


More Definitions of Swing Gas

Swing Gas means the total quantity of Committed Gas which shall be priced based on a daily index or shall be subject to the Swing Gas Re-Pricing rules of Section 2.4.6; determined by summing the quantities of Producer FOM Swing Gas, Dynegy FOM Swing Gas, and Incremental Swing Gas.
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Swing Gas is defined in Section 2.3(B).
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Related to Swing Gas

  • Swing Line Loans as defined in Section 2.6.

  • Swing Line Loan has the meaning specified in Section 2.04(a).

  • Swing Line Participation Amount as defined in Section 2.7(c).

  • Swing Line Loan Commitment Amount means, on any date, $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Swing Line Lender means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

  • Refunded Swing Line Loans as defined in Section 2.3(b)(iv).

  • Swing Line Lenders means each of the Lenders that has a Swing Line Commitment on Schedule 2.1 hereto, or any successor swing line lender hereunder.

  • Swing Line Advance has the meaning ascribed to it in Section 1.1(c)(i).

  • Swing Line Loan Commitment means the commitment of Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(iii).

  • Refunded Swing Line Loan has the meaning ascribed to it in Section 1.1(c)(iii).

  • Swingline Participation Amount as defined in Section 2.7(c).

  • Swing Line Exposure means, at any time, the aggregate principal amount of all Swing Line Loans outstanding at such time. The Swing Line Exposure of any Lender at any time shall be its Applicable Percentage of the total Swing Line Exposure at such time.

  • Swing Line Loan Notice means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B.

  • Swing Line means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Swingline Loans as defined in Section 2.6.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standard Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

  • Swing Line Facility means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Swing Line Commitment the obligation of the Swing Line Lender to make Swing Line Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $10,000,000.

  • Swing Line Rate means, (a) in respect of Swing Line Loans made in US Dollars or any Alternate Currency other than Canadian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in the relevant currency for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas London to major banks in the London or other offshore interbank market for such currency at their request at approximately 11:00 a.m. (London time) on the first day of such Swing Line Loan and (ii) the Applicable Rate, (b) in the case of Swing Line Loans made in Canadian Dollars, the sum of (i) the Canadian Prime Rate and (ii) the Applicable Rate and (c) in the case of Swing Line Loans made in Australian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in Australian Dollars for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas, Sydney Branch to major banks in Sydney at their request at approximately 11:00 a.m. (Sydney time) on the first day of such Swing Line Loan and (ii) the Applicable Rate.

  • Swing Lender means Xxxxx Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

  • Swingline Lenders means each of JPMCB, Bank of America, N.A., MUFG Bank, Ltd., Citibank, N.A., U.S. Bank National Association and each other Lender designated by the Company as a “Swingline Lender” hereunder that has agreed to such designation (and is reasonably acceptable to the Administrative Agent), each in its capacity as a lender of Swingline Loans hereunder.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Swingline Loan Notice means a notice of a Swingline Borrowing pursuant to Section 2.04(b), which shall be substantially in the form of Exhibit J or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.