Volume Commitment definition

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.
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.

Examples of Volume Commitment in a sentence

  • If a Committed Shipper Nominates volumes in excess of its Volume Commitment, then the excess incremental volume shall be subject to proration under Item No. 6(E) below.

  • Except during events of Force Majeure or maintenance, each Committed Shipper will be allocated an amount of capacity equal to its Volume Commitment.


More Definitions of Volume Commitment

Volume Commitment means the volume of NGLs that a Committed Shipper has guaranteed to ship on the Pipeline pursuant to its TSA.
Volume Commitment means, in relation to each Contract Year, the amount as set out on the Cover Sheet.
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.
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.
Volume Commitment means the agreed-upon Customer commitment to purchase, and may be described as an AVC, a TVC, Tiered Volume Commitment or Subminimum Volume Commitment.
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.
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.