Underdelivery definition

Underdelivery is defined in Section 3.3.
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Underdelivery shall have the meaning ascribed to such term in Section 2.06.
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Underdelivery is defined as an instance where the quantity of gas actually delivered to Purchaser at a given Delivery Point in a Month is less than the Monthly quantity of Committed Gas designated for delivery at that Delivery Point in the FOM Availability Report as changed throughout the Month by timely revisions of the Daily Avails in accordance with Section 2.7.1 above. An "Overdelivery" is defined as an instance where the Monthly quantity of gas actually delivered to Purchaser at a given Delivery Point is greater than the monthly quantity of Committed Gas designated for delivery at that Delivery Point in the FOM Availability Report as changed throughout the Month by timely revisions of the Daily Avails in accordance with Section 2.7.1 above. At the request of Seller and upon Purchaser's agreement, Purchaser will assist Seller in balancing Committed Gas volumes (in accordance with the procedures of each Transporter's Tariff) actually delivered against the volumes shown in the FOM Availability Report as changed throughout the Month by timely revisions of the Daily Avails in accordance with Section 2.7.1
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Examples of Underdelivery in a sentence

  • If it is not possible to treat the LNG or the Seller does not accept to pay the Estimated Treating Costs then the Buyer shall have the right to reject that cargo and in such case the Seller shall pay the Buyer the Cargo Underdelivery Amount.

  • For example, if there is a 7% Under-delivery on a Delivering Pipeline, volumes that make up the first 5% of the imbalance are priced at the highest average of the seven consecutive Daily Indices.

  • The Parties agree and acknowledge that sums calculated in accordance with § 8.1 (Underdelivery) to § 8.4 (Over Acceptance) (as applicable) will represent a genuine and reasonable estimate of the costs and losses likely to be suffered by the Buyer in the event of Seller's Default or by the Seller in respect of Buyer's Default.

  • Underdelivery or overdelivery of the quantity of ordered goods requires our previous written consent.

  • An "Underdelivery" is defined as an instance where the quantity of gas actually delivered to Purchaser at a given Delivery Point in a Month is less than the Monthly quantity of Committed Gas designated for delivery at that Delivery Point in the FOM Availability Report as changed throughout the Month by timely revisions of the Daily Avails in accordance with Section 2.7.1 above.

  • The quantity of the Overdelivery or Underdelivery for each Delivery Point will be shown on Shipper's monthly statement as provided in Section 16 of the Operating Statement, and the values of the aggregate Overdeliveries and Underdeliveries shall be netted for the purpose of imbalance settlement.

  • The amount of the Under-Delivery for any Monthly Requirements period shall be equal to the maximum difference between one hundred percent (100%) of the volume required to be made available on any day in the month and the volume actually delivered on any day in which there was an Under-delivery.

  • In the event of net Underdeliveries or Overdeliveries by Seller in any Month and notwithstanding the absence of an actual net Underdelivery or Overdelivery assessed by Transporter, Purchaser will exercise reasonable commercial efforts to mitigate the adverse consequences of the net Underdeliveries or Overdeliveries through imbalance trading, or equivalent opportunities set forth in the Tariff of the applicable Transporter.

  • Purchaser and Seller acknowledge the net Underdeliveries or Overdeliveries by Seller calculated in accordance with this Agreement may or may not result in a corresponding actual net Underdelivery or Overdelivery assessed by Transporter pursuant to its Tariff.

  • The ultimate size of any Under-delivery makegood will be determined by the lesser of (i) the Monthly Impression Cap minus the number of Impressions delivered or (ii) the accrued Under-delivery makegood for the month.

Related to Underdelivery

  • Delivery Month means each month specified as such by the Exchange pursuant to

  • Delivery Site means the places specified in the Delivery Schedule for the purpose of Delivery or Installation of the Supplies and Services, or any other places nominated by the Engineer and notified in writing to the Contractor;

  • Delivery Point ; shall mean the point(s) of connection(s) at which energy is delivered into the Grid System i.e. the Interconnection Point.

  • Redelivery means the delivery of gas, excluding Firm Gas and Unauthorized Gas, to a Customer by KUB.

  • Delivery Point(s) means: (i) for natural gas transported by interstate pipelines, the city gate stations of your Utility, and (ii) for electricity, one or more points at which Company, as your agent, has arranged for the delivery of electricity to a third party (such as your Utility) for your account or at your premises.