Take or Pay Contract definition
Take or Pay Contract means a gas purchase or sale contract which requires the buyer to pay for the gas quantity contracted, whether the gas is consumed by the buyer or not;
Take or Pay Contract means a contract for the sale of Gas from Seller’s Facilities by Seller or Seller’s Affiliate with (a) such Gas solely for consumption on the island of Jamaica, (b) an initial term of commitment of at least (3) years, (c) a provision requiring the buyer to take and pay for, or pay for if not taken, a minimum quantity of Gas in each year of the initial term, (d) credit terms no less favorable to the Seller than included in this Agreement, and (e) designated by the Seller in writing as “Take-or-Pay Contract”. For the avoidance of doubt, this Agreement shall constitute a “Take-or-Pay Contract” but “Take-or-Pay Contract” shall not include the Old Harbour GSA or any contract for the sale of LNG or Gas by Seller or Seller’s Affiliate (i) to a buyer or end-user off the island of Jamaica, or (ii) where such LNG or Gas is to be consumed or transported by a ship or other marine or waterbourne vessel.”
Take or Pay Contract means the contract manufacturing agreement entered into or to be entered into between the Beneficiary and HoldCo2.
Examples of Take or Pay Contract in a sentence
The Borrower shall take, and shall cause LPC to take, all necessary measures to ensure that KDHE complies with its obligations under the Take or Pay Contract.
More Definitions of Take or Pay Contract
Take or Pay Contract means a natural gas sale and purchase contract which requires the buyer to pay for the contractually set natural gas quantity, irrespective whether the natural gas quantity in question is consumed by the buyer or not;
Take or Pay Contract means a contract, including an Ownership Agreement or an agreement to purchase an electric power supply, which obligates the Board to make payments unconditionally and with respect to any Electric Power Facility without regard to the operational status of the facility.
Take or Pay Contract means the contract manufacturing agreement dated [30] May 2014 and entered into between Panasonic Corporation and Holdco 2.
Take or Pay Contract means the contract for purchase by KDHE from EG of the heat generated by EG, concluded between EG and KDHE on behalf of LPC on April 11, 1996, as the same may be amended from time to time, and referred to in Sections 3.05 and 5.01 (f) of this Agreement.
Take or Pay Contract means a contract between a producer and a purchaser whereby a purchaser agrees to take or pay for a minimum quantity of product per year whether or not the purchaser takes delivery of the product. Usually, any product paid for but not taken in a particular period may be taken at some later time subject to limitations.
Take or Pay Contract means a contract under which the lessee or operator of a Project is obligated to pay the owner or operator of a pipeline a specified amount for transportation services regardless of whether the services,