Shortfall. If, for any Contract Quarter, Actual Shipments are less than the Minimum Throughput Commitment, then the Refining Entity shall pay the Logistics Entity an amount (a “Shortfall Payment”) equal to the difference between (i) the Minimum Throughput Commitment multiplied by the Base Throughput Fee and (ii) the aggregate Throughput Fees for such Contract Quarter payable under Section 2(b)(i) and Section 2(b)(ii). The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by the Refining Entity of the Shortfall Payment shall relieve the Refining Entity of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter. The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitment to any subsequent Contract Quarter.
Appears in 5 contracts
Samples: Pipelines and Tankage Agreement, Pipelines and Tankage Agreement, Pipelines and Tankage Agreement (Delek US Holdings, Inc.)
