Deficiency Payment definition

Deficiency Payment has the meaning set forth in Section 9(a).

Deficiency Payment means the payment due by a VC Shipper to Carrier, in accordance with VC Shipper’s TGSA, for such Committed Shipper’s Monthly Deficient Barrels.

Deficiency Payment shall have the meaning specified in Section 5.01(e) hereof.

Examples of Deficiency Payment in a sentence

• This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein.

• Sellers’ rights to receive payment in respect of Gas delivered to Buyer and in respect of Buyer’s obligations to pay for Gas not taken (including payment of the Quarterly Deficiency Payment) shall be in accordance with their respective Participating Interests.

• Sellers’ rights to receive payment in respect of Sales Gas delivered to Buyer and in respect of Buyer’s obligations to pay for Sales Gas and for Sales Gas not taken (including payment of the Monthly Deficiency Payment) shall be in accordance with their respective Participating Interests.

• For clarity, the Shipper shall remain obligated to pay the Monthly Deficiency Payment on any shortfall between (i) the product of its Committed Volume and the number of days in such Month; and (ii) the Actual Shipments in such Month.

• Carrier shall include information with the billing statement sufficient to calculate the Monthly Deficiency Payment.

More Definitions of Deficiency Payment

Deficiency Payment means payments to be made by a Committed Shipper as determined in accordance with Article 7 of the TSA.

Deficiency Payment means a payment to be made by a Volume Commitment Shipper, as determined in accordance with a Volume Commitment TSA.

Deficiency Payment means payments to be made by a Term Shipper as determined in accordance with a TSA.

Deficiency Payment means the sum payable by member organizations to the Fund in accordance with article 26 (a) of the Regulations of the Fund;

Deficiency Payment means the payment due by a VC Shipper or Committed Shipper to Carrier, in accordance with the Shipper's Transportation Services Agreement, for such Shipper's Monthly Deficient Barrels.

Deficiency Payment means the payment by SHIPPER for a shortfall during any Month in meeting the Minimum Monthly Volume Requirement, which payment shall be calculated based upon the Actual Shipments during such Month and shall be equal to the product of:

Deficiency Payment means the payment due by a Committed Shipper, in accordance with the Committed Shipper’s TSA, for such Committed Shipper’s Monthly Deficient Barrels.