Accumulated Imbalance Limit Clause Samples

Accumulated Imbalance Limit. ‌ (a) Except where the Parties have agreed a different Accumulated Imbalance Limit under clause 9.7,
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Accumulated Imbalance Limit. (a) The Shipper's Accumulated Imbalance Limit for a Gas Day is 8% of the sum of the Shipper's Contracted Capacity under Spot Transactions and quantities, referred to as the Shipper's Contracted Capacity, across all of the Shipper's Capacity Services (including T1 Service, P1 Service and B1 Service and Capacity under Spot Transactions) for that Gas Day. (b) If at any time the absolute value of the Shipper's Accumulated Imbalance exceeds the Accumulated Imbalance Limit for the Gas Day just finished and the Operator (acting as a Reasonable and Prudent Person) considers that a continuation of that condition: (i) will have a material adverse impact on the integrity or operation of the DBNGP; or (ii) will adversely impact, or is likely to adversely impact, on any other shipper's entitlement to its Daily Nomination for T1 Capacity, B1 Capacity, P1 Capacity, Contracted Firm Capacity, or any Other Reserved Service, then the Operator (acting as a Reasonable Aand Prudent Person) may, subject to clause 9.5(f), either or both: (iii) issue a notice requiring the Shipper to reduce its imbalance to the Accumulated Imbalance Limit (to the extent reasonably required to ameliorate the condition in clause 9.5(b)(i) or 9.5(b)(ii)) and the Shipper must use best endeavours in accordance with clause 9.5(d) to immediately comply, or procure immediate compliance, with the notice, so as to bring the Shipper's Accumulated Imbalance within the Accumulated Imbalance Limit; and/or (iv) refuse to Receive Gas from the Shipper at an Inlet Point or refuse to Deliver Gas to the Shipper at an Outlet Point so as to bring the absolute value of the Shipper's Accumulated Imbalance within, or closer to, the Accumulated Imbalance Limit. (c) If the Operator issues a notice under this clause 9.5 and the Shipper's Accumulated Imbalance is: (i) positive, the Operator must issue a similar notice to all other shippers with a positive Accumulated Imbalance in excess of its Accumulated Imbalance Limit; or (ii) negative, the Operator must issue a similar notice to all other shippers with a negative Accumulated Imbalance the absolute value of which is in excess of its Accumulated Imbalance Limit. (d) If, after the Operator issues a notice under clause 9.5(b)(iii): (i) subject to clause 9.5(d)(ii), the absolute value of the Shipper's Accumulated Imbalance is reducing each Gas Day, then the Shipper is taken to be using best endeavours to comply, or procure compliance, with the notice for the purposes of clause...
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Accumulated Imbalance Limit 
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Related to Accumulated Imbalance Limit

  • Maximum Accumulation An employee may accumulate earned leave, excluding the separate vacation balance, if any, to a maximum of twice their annual time management accumulation. As of the end of the pay period in which March 31 falls in each year, any employee credited with accrued leave greater than twice their annual leave accumulation shall forfeit that amount above their maximum accumulation. An employee who has acquired the maximum allowable accumulation of earned leave may continue to accumulate earned leave for the balance of the year in which the maximum accrual was reached, provided, however, that the employee must reduce the accumulation to the maximum allowable prior to the following March 31 or forfeit the excess.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a ▇▇▇▇ ▇▇▇ (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your ▇▇▇▇ IRAs. Your total annual contribution to all Traditional IRAs and ▇▇▇▇ IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.