Throughput Volume definition
Examples of Throughput Volume in a sentence
If the Minimum Marine Throughput Volume and/or the Minimum Pipeline Throughput Volume are not met, then Customer shall receive a “Shortfall Credit” calculated as the difference between actual total volumes received during such Month and the Minimum Marine Throughput Volume and/or the Minimum Pipeline Throughput Volume multiplied by the sum of the MTVF and/or the Pipeline Use Fee, each on a per Barrel basis.
Customer’s request for Berth access shall be given the same priority access for all Product, as well as for throughput above the Minimum Marine Throughput Volume.
Actual volumes of Barrels throughput across the Berths are to be determined Monthly, based upon Marine Vessel deliveries, Marine Vessel receipts and Pipeline transfers during that Month and credited towards the Minimum Marine Throughput Volume in such Month.
The Average Daily Throughput Volume Per Terminal will be determined for each Acquired Terminal based on the number of actual Barrels shipped by Customer in a month at that terminal divided by the number of calendar days in that month.
If, during any Month, actual shipments by TRMC on the LAR Short Haul Pipelines are less than the Minimum Throughput Volume, then TRMC shall pay to TLO, in addition to Throughput Fee owed for actual barrels shipped during such Month, an amount equal to (i) the amount of such shortfall (in Barrels) multiplied by (ii) the Throughput Fee (the “Shortfall Payment”).
Each month, ▇▇▇▇▇▇▇▇▇ will calculate the sum of the Throughput Volume Per Terminal for each Acquired Terminal to determine the average daily number of Customer Barrels shipped from the Acquired Terminals collectively (the “Total Terminal Throughput Volume”).
For clarity, the Throughput Volume Fees payable by Customer to ▇▇▇▇▇▇▇▇▇ during a calendar year, if the Total Terminal Throughput Volume is less than or equal to the Aggregate Daily Minimum Throughput Volume Commitment for the year (excluding Additive Fees or Other Fees), shall be approximately $7.03 million per year.
Customer agrees to pay Arc Terminals LP for the Throughput Volume Fee within ten (10) days of receipt of invoice.
If Customer fails to cure the default within the Customer Cure Period, then ▇▇▇▇▇▇▇▇▇ shall have the right, but not the obligation, to terminate this Agreement by written notice thereof to Customer, and in such instance, all obligations, including the payment of the Throughput Volume Fee payable pursuant to the first sentence of Section 2.3(b) for the remaining term of the Agreement and costs associated with cleaning (and disposal of wastes) the Acquired Terminals shall become immediately due and payable.
Any and all Product volumes received during a Month at the Anacortes Rail Unloading Facility via manifest railcars shall be credited against TRMC’s Minimum Throughput Volume for such Month.