Volume Commitment definition

Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum Volume Commitment.
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Volume Commitment means the volume of NGLs that a Committed Shipper has guaranteed to ship on the Pipeline pursuant to its TSA.
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Volume Commitment means the daily volume of Barrels of Crude Petroleum a VC Shipper has agreed to ship, or make a Deficiency Payment for, on Carrier’s System during the term of the TGSA and as set forth in such TGSA.
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Examples of Volume Commitment in a sentence

  • Customer agrees to pay Verizon the amount of Eligible Charges in each Contract Year that is no less than the Tiered Volume Commitment identified in the Agreement, for the number of Contract Years/Volume Commitment Period identified in that Agreement.

  • The terms of the Agreement (excluding the Volume Commitment) will continue to apply during any service-specific commitments that extend beyond the Volume Commitment Period.

  • If the Agreement does not identify a Tiered Volume Commitment or number of Contract Years/Volume Commitment Period, then the applicable number is zero.

  • Upon expiration of a Volume Commitment Period, the relevant Agreement is automatically extended on a month-to-month basis until either Party terminates it upon 60 days written notice.

  • If, in any Contract Year, Customer's Eligible Charges are less than the Tiered Volume Commitment, then Customer will pay: (a) all accrued but unpaid charges incurred by Customer; and (b) an underutilization charge (which Customer hereby agrees is reasonable) equal to 75% of the difference between Customer's Eligible Charges during such Contract Year and the Tiered Volume Commitment.


More Definitions of Volume Commitment

Volume Commitment as herein used means, with respect to a Committed Shipper, the daily volume commitment of Crude Petroleum set forth in such Committed Shipper’s TSA.
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Volume Commitment means the volume of Products that a Committed Shipper agreed to ship on Carrier’s System each day during the term of the Committed Shipper’s TSA, as specified in Exhibit A to the Committed Shipper’s TSA.
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Volume Commitment means the Daily volume of Barrels of Product a VC Shipper or Committed Shipper has agreed to ship, or make a Deficiency Payment for, on Carrier's System during the term of its Transportation Services Agreement.
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Volume Commitment means, in relation to each Contract Year, the amount as set out on the Cover Sheet.
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Volume Commitment means with respect to a Committed Shipper, the volume of Demethanized Mix per day that such Shipper has committed to nominate and tender to Carrier in accordance with Section 2.2.1 of the TSA of such Committed Shipper.
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Volume Commitment means the daily volume of Barrels of Product a VC Shipper has agreed to ship, or otherwise make a Deficiency Payment for, on Carrier’s System during the term of its TSA and as set forth in such TSA.
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Volume Commitment means the volume of Crude Oil that a Committed Shipper agrees to ship on the System each day during the term of the TSA, as such amount is set forth in each Committed Shipper’s TSA.
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