Take or Pay definition

Take or Pay means the charge for contracted Train services where the contracted Train services are not used by the relevant Railway Operator, and for the End User is calculated as ATP in [Part 5/Part 4] of Schedule 3;

Take or Pay means an obligation on a customer to pay for an agreed minimum quantity of a commodity even if it fails to “take” that agreed minimum quantity; and

Take or Pay means a form of contract in which the payor is obligated to pay regardless of whether or not the payor uses the services, volumes or capacity available under the contract;

Examples of Take or Pay in a sentence

• Determination of Winner – Take or Pay Procedures: (1) Once the dealer has dealt the first two cards to each player, the dealer must determine if any of the players that bet the Lucky Ladies™ wager have a hand whose first two cards total 20.

• For clarity, an Expansion Tariff will be calculated based on contracted volumes and, when a Take or Pay applies to the Expansion, it will be calculated in accordance with clause 3.3(n) of Schedule F.

• It includes a Take or Pay of 100% equivalent to 84.1MMpcd which should be paid in the month the service is rendered.

• Licensee is not in favour of further introduction of Take or Pay Tariff.

• It is also clarified to the Assured that the percentage of annual contracted quantity fixed with respect to Take or Pay obligations in the FSA may be reviewed by the Seller in light of its coal availability and coal commitments, and amended on year-to-year basis during the term of the FSA.

More Definitions of Take or Pay

Take or Pay means a customer’s obligation to a minimum revenue or volume commitment; “TC Energy” means TC Energy Corporation;

Take or Pay contract means a contract binding supplier to supply contracted quantities of gas and binding the customer to pay those quantities of gas regardless of whether it took them;

Take or Pay means Customers must pay for their Firm Requirements Power whether they use it or not:

Take or Pay means that except in the case of a Force Majeure event stipulated in this Contract or Inherit Equipment Defects or the Party B's default stipulated in the Section 12.02 hereof, Party A shall at least pay to Party B the amount for the Annual Minimum On-Grid Quantity at the On-Grid Tariff. Even if Party A decides to reduce its purchase quantity, or is unable to purchase all the Annual Minimum On-Grid Quantity, it has to pay to Party B the same amount as if it has purchased all the Annual Minimum On-Grid Quantity.

Take or Pay means a purchaser agrees to pay for a specific minimum volume of water annually, regardless of whether the purchaser takes delivery of the full amount of that volume. Take-or-pay agreements for water purchased from the District cannot be reduced unilaterally by either party during the term of the agreement (although the District is excused from delivery because of lack of water supply or system capacity, system failure, and all other reasons beyond its reasonable control). The Board may consider an application to reduce a take-or-pay agreement minimum volume. The Board will not approve such a reduction unless another member agency applies for a new agreement or an agreement increase in an equal or greater quantity than the reduced volume. The Board may approve the reduction and the increase simultaneously if it finds it is in the best interests of the District. Conditions to such a reduction and contemporary increase include the following:

Take or Pay means that part of the Access Charge payable pursuant to Subclause 2.2 of Part B or Clause 5 of Part C;

Take or Pay means that part of the Access Charge payable pursuant to Clause 2.2, Part B of Schedule F or Clause 5, Part C of Schedule F;