Minimum Volume Commitment definition

Minimum Volume Commitment or “MVC” has the meaning given such term in Section 6.1.

Minimum Volume Commitment means, pursuant to a gas gathering or similar agreement, a commitment of a third party to deliver specified minimum volumes of natural gas to the gathering systems of the Partnership.

Minimum Volume Commitment shall have the meaning assigned to such term in Section 6.4.

Examples of Minimum Volume Commitment in a sentence

• Shipments moving on Bills of Lading (or Sea Waybills) not so annotated shall not be counted toward Shipper's Minimum Volume Commitment; provided however, that Shipper shall have reasonable time within which to remedy such omission after the fact.

• Carrier shall exercise due diligence to provide access to regularly scheduled sailings, space aboard such sailings and service adequate to accommodate Shipper's normal service requirements for the Minimum Volume Commitment reasonably spread over the Duration of this Contract.

• Except as otherwise provided in Section 3.D(i)(a) of a Committed Shipper’s TSA, in addition to paying any transportation fees owed to Carrier during a month under Part III(A) of this tariff, a Committed Shipper shall also be responsible for paying a “Demand Fee” each Month to Carrier, which shall equal $1.944 per Barrel multiplied by the Committed Shipper’s then-applicable Monthly Minimum Volume Commitment, which commitment amount is set forth in Exhibit G of the Committed Shipper’s TSA.

• Under normal operating conditions, each Committed Shipper will be allocated an amount of capacity equaling the lesser of: (i) its Nomination for the Proration Month, or (ii) its Monthly Minimum Volume Commitment.

• The Volume Incentive Rates identified in Item No. 170 and the terms set forth in this Section III will apply to qualifying shipments of a Volume Incentive Shipper in accordance with such Volume Incentive Shipper’s Minimum Volume Commitment.

More Definitions of Minimum Volume Commitment

Minimum Volume Commitment has the meaning set forth in Section 2(a)(i).

Minimum Volume Commitment has the meaning given such term in Section 9.1.

Minimum Volume Commitment means the minimum volume commitment of Equipment to be purchased by and delivered to Customer each quarter as set forth on Exhibit B.

Minimum Volume Commitment means 7,600 Barrels per Day multiplied times the number of Days during the applicable calendar Month. SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).

Minimum Volume Commitment or “MVC”. The MVC for the Quarters occurring in Year 2014 are set forth on Exhibit F attached hereto.

Minimum Volume Commitment means from and after the Effective Date, a Monthly average of 20,000 bpd for the Term of this Agreement.

Minimum Volume Commitment means any “ship or pay” or other similar arrangement where any Person (a) commits to utilize a minimum capacity in a pipeline or otherwise guarantees a minimum thru-put volume in respect of a pipeline, processing or other midstream facility and (b) agrees to pay for such capacity or thru-put regardless of whether such capacity or thru-put is actually utilized.