Volume Commitment definition

Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum 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 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

• Once finalized, the new Minimum Terminal Volume Commitment and Base Throughput Fee for these Terminals will be applied retroactively effective as of January 1, 2027.

• If the Parties are unable to complete negotiations by December 31, 2026, the existing Minimum Terminal Volume Commitment and Base Throughput Fee for these Terminals will remain in effect until such negotiations are final.

• If the Parties are unable to complete negotiations by September 30, 2027, the existing Minimum Terminal Volume Commitment and Base Throughput Fee for these Terminals will remain in effect until such negotiations are final.

• If the Parties are unable to complete negotiations by August 31, 2026, the existing Minimum Terminal Volume Commitment and Base Throughput Fee for these Terminals will remain in effect until such negotiations are final.

• Once finalized, the new Minimum Terminal Volume Commitment and Base Throughput Fee for these Terminals will be applied retroactively effective as of August 1, 2024.

More Definitions of Volume Commitment

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 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, in relation to each Contract Year, the amount as set out on the Cover Sheet.

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 daily volume of Barrels of Product a VC Shipper has agreed to ship, or otherwise make a Deficiency Payment for, on Carrier’s System during the term of its TSA and as set forth in such TSA.

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.

Volume Commitment means the daily volume of Barrels of Crude Oil a VC Shipper has agreed to ship, or make a Deficiency Payment for, on Carrier’s System during the term of the GSA and as set forth in such GSA.