BTU Adjustment Sample Clauses

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BTU Adjustment. 3.2.1 The Base Price for each ton of coal sold and purchased hereunder during a calendar month shall be adjusted based on the monthly weighted average of the actual BTU/lb of all tons delivered in such calendar month under this Agreement (the “BTU Adjustment”). The BTU Adjustment shall be determined according to the following formula: BTU Adjustment = ((Actual BTU/lb Value / Guaranteed BTU/lb Value) x (Base Price)) – Base Price Where the Guaranteed BTU/lb Value = 11,000 Btu/Lb The aggregate BTU Adjustment for a calendar month shall be equal to the total tons delivered in such calendar month, multiplied by the BTU Adjustment. If the BTU Adjustment is a negative value, the BTU Adjustment shall be payable from Seller to Buyer, and if the BTU Adjustment is a positive value, the BTU Adjustment shall be payable from Buyer to Seller. The aggregate BTU Adjustment to be paid with respect to a calendar month shall be included in the first invoice delivered by Seller in the calendar month immediately following the calendar month for which such BTU Adjustment applies. 3.2.2 Subject to Buyer’s rights under Section 4.3, the Base Price adjustments as described in this Section 3.2, shall be Buyer’s sole and exclusive remedy at law or in equity for the failure of coal sold hereunder to meet the quality specifications with respect to BTU/lb. AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT Exhibit 10.3
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BTU Adjustment. For the coal accepted in each calendar quarter, an adjustment, calculated to the nearest cent per ton and using the then current Base Price, shall be applied to the contract price to account for variations in the Quarterly Average Value for as-received Btu/lb. compared to the Typical Analysis for as-received Btu. This adjustment shall in no way be affected by contract price adjustments under Section 10.2 “Law Changes”. (See Exhibit I for example of calculations.)
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BTU Adjustment. The Index Based Market Price will be adjusted to reflect contract calorific value according to the following formula: Btu Adjustment = Index Based Market Price x ((12,300 — 12,500)/12,500)
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BTU Adjustment. (1) For coal received that contains, on a monthly weighted average basis, a heating value of greater than or equal to ****** Btu/pound, the Price will be adjusted as follows: BTU Quality Adjustment per ton = ( ( Actual as Received BTU/lb X (****** - $****** ) ) - (****** - $******) ****** BTU/lb (2) For coal received that contains, on a monthly weighted average basis, a heating value less than ****** Btu/pound, the Price adjustment shall be determined in accordance with the method set out in Subparagraph (1) above and the Price shall be further reduced by ****** x (Price-$******).
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BTU Adjustment. Each month, Buyer shall calculate a BTU adjustment for Shipments during each calendar month as follows: $/ ton = [(Actual BTU - [*] BTU)/[*] BTU * Contract Price ] For each barge with % Moisture greater than [*], an adjustment of [*]/ton for each one percent or part thereof greater than [*] shall apply as follows: [(($/ton = [*] Moisture - As Received % Moisture) ÷ 1%) * [*]] This calculation shall be determined by utilizing four significant digits This Moisture Adjustment is based on the weighted average contract price of [*] per ton for 2009 and 2010 During each successive two-year contract period the Moisture Adjustment shall be increased or decreased for each percentage point of change, or part thereof, to reflect changes to the contract price relative to [*] per ton.
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BTU Adjustment. Except as provided in 7.03.3 (b), DP&L will make calorific premium or penalty adjustments to the applicable Contract Price of coal based on the As- Received BTUs/lb quality of coal and its delivered cost. DP&L will use a transportation factor to approximate the delivered cost of the coal. Pen/DP&L 3/1/93 The transportation factors DP&L will use are as follows: Factor ------ Mid Sulfur Coal 1.03 Low Sulfur Coal 1.03 Compliance Sulfur Coal 1.02 DP&L will calculate the BTU Adjustment premium or penalty and remit or prepare a credit invoice for the amount due Pen or invoice the amount due DP&L at the end of each Quarter. The following formula shall be used to determine the BTU adjustments: [(FOB Contract Price x Transportation Factor) x [(Weight Average Received BTU/ Quoted BTU) -1]] = BTU Premium/Penalty per Ton BTU Premium/Penalty + FOB Contract = FOB Contract price Per Ton Price w/BTU Premium or Penalty
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BTU Adjustment. If the gas delivered hereunder has a gross heating value of less than one thousand (1,000) BTU per cubic foot, then the price payable for such gas shall be reduced. If the gas has a gross heating value of more than one thousand (1,000) BTU per cubic foot, then the price payable for such gas shall be increased. Such reduced or increased price shall be determined by multiplying the price otherwise payable by a fraction, the numerator of which is the actual gross heating value of the gas delivered, expressed in BTU per cubic foot, and the denominator of which is one thousand (1,000); provided, however such fraction shall not exceed 12/10 even though the gross heating value of the gas is found to be in excess of one thousand two hundred (1,200) BTU per cubic foot.
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BTU Adjustment. If the actual Btu on an as-received basis of any Shipment accepted by Buyer is other than the Standard Btu, an adjustment shall be calculated based on each Shipment as follows: SO2 Adjustment If the actual SO2 Ibs/MMBTU on an as-received basis of any Shipment accepted by Buyer is other than the Standard SO2 Ibs/MMBTU, an adjustment shall be calculated based on each Shipment as follows: SO2 Adjustment = ( (Standard SO2 Ibs/MMBTU – Actual Shipment SO2 Ibs/MMBTU) × Actual Shipment Btu/lb × E × F ) / 1,000,000 E is the price of one SO2 Allowance. The price of an SO2 Allowance is determined by the monthly SO2 price indices published in Argus Air Daily published by Argus Media Ltd. or any successor publication (“Air Daily”) for the vintage year of the SO2 Index Month F is the number of SO2 Allowances required to emit one ton of SO2 during the current calendar year in a state covered by the Clean Air Interstate Rule under 40 CFR 96.202 (“CAIR”) (see Final Rule, 60 Fed. Reg. 91 (May 12, 2005) at p. 25363). F shall be as follows (irrespective of where the coal is delivered or burned): Year 2010 – 2014: F=2.00; and After 2014: F = 2.86. In the event the information contained in Air Daily is no longer published or a change in the methodology, law, regulations or industry standards has occurred that will materially alter the information, a substitute calculation shall be mutually agreed to by the Parties. The above information reflects that pursuant to CAIR, currently two SO2 Allowances are required to emit one ton of SO2 during a calendar year in a state covered by CAIR and that in 2015, this will Increase to 2.86 SO2 Allowances required to emit one ton of SO2. The Parties recognize that CAIR is required to be modified pursuant to a court order, and agree that SO2 Adjustments shall be calculated using the ratios of SO2 Allowances to tons of SO2 as set forth above, or as may be otherwise changed by the modification of CAIR or any replacement or Successor rules or laws, as applicable, to as closely as possible reflect that number of SO2 Allowances required to emit one ton of SO2 in a state covered by CAIR or any replacement thereof.
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BTU Adjustment. TWCC shall be subject to Premiums and Penalties, in addition to reject penalties, based upon the As Received Btu content of lignite delivered, as provided below (the “Btu Adjustment”). (i) Btu Adjustments shall be based on seven (7) day rolling averages weighted by delivered Volumes (“Rolling Average”), and calculated by multiplying the Daily Fee on the seventh day of the Rolling Average by 0.1% for each 1 Btu per pound by which the Rolling Average Btu content is either more than 300 Btu per pound above (“Premium”) or more than 300 Btu per pound below (“Penalty”) the target Btu of 6,500 Btu per pound, As Received, for volumes delivered on such seventh day of the Rolling Average. (ii) In addition to the Rolling Average Premium and Penalty Btu Adjustments above, TWCC shall be subject to a Btu reject quality penalty, which shall be calculated by multiplying [***] per Ton by the total Tons delivered on each Delivery Day in which the weighted average Btu content of the lignite so delivered is less than 6,000 Btu per pound, As Received and by multiplying an additional [***] per Ton by the total Tons delivered on each Delivery Day in which the weighted average Btu content of the lignite so delivered is less than 5,800 Btu per pound, As Received.
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Related to BTU Adjustment

  • CPI Adjustment If the CPI Percentage Increase (as defined below) is more than [***] for the relevant Adjustment Period, then the Rent payable during that Adjustment Period shall be adjusted upward by a percentage equal to the CPI Percentage Increase (as defined below) applicable to such Adjustment Period, but not to exceed an adjustment during any Adjustment Period of greater than [***]. The term “Consumer Price Index” shall mean the unadjusted Consumer Price Index for All Urban Workers, U.S. City Average, All Items, 1982-84=100, calculated and published by the United States Department of Labor, Bureau of Labor Statistics. The “CPI Percentage Increase” shall mean, with respect to any Adjustment Period, [***]. For the avoidance of doubt, no CPI Adjustment shall be made to any payment due under this Ground Lease for any Adjustment Period if the result of such CPI Adjustment would be to (a) reduce the amount of such payment to an amount that is less than the amount of such payment due for the immediately preceding Adjustment Period or (b) to raise the amount of such payment to an amount that is greater than [***]. For illustrative purposes only, [***]. The CPI Percentage Increase for any Adjustment Period shall be calculated by the Tenant, and the Tenant shall deliver written notice to the Landlord describing such calculation in reasonable detail (a “CPI Notice”) no later than thirty (30) days after the commencement of any Adjustment Period. If the Landlord disagrees with the Tenant’s calculation of the CPI Percentage Increase, then the Landlord shall deliver to the Tenant written notice, describing the basis for such disagreement in reasonable detail (a “CPI Disagreement Notice”), not later than thirty (30) days after delivery of the CPI Notice. If the Landlord fails to deliver a CPI Disagreement Notice within thirty (30) days after delivery of any CPI Notice, then the Landlord shall be conclusively deemed to have agreed with the calculation of the CPI Percentage Increase set forth in such CPI Notice.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the Chancellor, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Tax Adjustment Tenant shall pay as additional rent for each Calendar Year that amount (the "TAX ADJUSTMENT AMOUNT") which is Tenant's Proportionate Share of the amount by which the Taxes incurred with respect to such Calendar Year exceed the Tax Base Amount. The Tax Adjustment Amount with respect to each Calendar Year shall be paid in monthly installments, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following the close of each Calendar Year, Landlord shall cause the amount of the Tax Adjustment Amount for such Calendar Year to be computed based on Taxes for such Calendar Year and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceeds the actual Tax Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord's option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder. The amount of any refund of Taxes received by Landlord shall be credited against Taxes for the year in which such refund is received. In determining the amount of Taxes for any year, the amount of special assessments to be included shall be limited to the amount of the installment (plus any interest payable thereon) of such special assessment required to be paid during such year as if the Landlord had elected to have such special assessment paid over the maximum 4. period of time permitted by law; if the authority to whom such assessment is to be paid shall not permit such assessment to be paid in installments, the amount of such assessment shall be treated as being amortized over such number of calendar years, beginning with the Calendar Year in which the assessment is payable, as Landlord shall reasonably determine, with interest at the rate of 15% per annum on the unamortized amount, and such amortization and interest for each Calendar Year shall be included in Taxes for that Calendar Year.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Operating Expense Limit.