CORRECTION OF OPERATIONAL IMBALANCES Sample Clauses

The "Correction of Operational Imbalances" clause establishes procedures for addressing discrepancies between the quantities of goods or services delivered and those scheduled or agreed upon in operational contexts, such as energy or commodity transactions. Typically, this clause outlines how parties will identify, report, and rectify imbalances, which may involve financial settlements, physical adjustments, or future scheduling corrections. Its core function is to ensure that any unintended differences in operations are promptly resolved, thereby maintaining fairness and operational integrity between the parties involved.
CORRECTION OF OPERATIONAL IMBALANCES. 2.1 Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, shall be used by Company for purposes of adjustments under this Section on a daily basis during the production month to determine the estimated Operational Imbalance at (all of) the Receipt Point(s). Company shall make the estimated Daily and Monthly Operational Imbalance (at each Receipt Point) available to Balancing Party within three (3) Business Days after each production day. Adjustments in nominations and actual deliveries may be made by Company or Balancing Party during the production month to adequately control imbalance levels. If Balancing Party fails to take such corrective action, Company may, upon forty-eight (48) hours’ notice, adjust the nominations and actual receipts during the remainder of the production month to adequately control imbalance levels. Any such adjustments will be incorporated in the daily nominations confirmed between Company and Balancing Party. 2.2 Corrections in Subsequent Periods - As soon as practicable following the close of each month, Company will send Balancing Party a statement setting forth the Monthly Operational Imbalance existing at the end of the prior month. Any Monthly Operational Imbalance shall be corrected in cash in accordance with Rate Schedule LMS of Company's FERC Gas Tariff Volume No. 1, unless the parties mutually agree otherwise. For purposes of correcting imbalances in cash in accordance with Rate Schedule LMS, any difference between actual deliveries and confirmed nominations will be treated as "Excess Receipts."
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CORRECTION OF OPERATIONAL IMBALANCES. 3.1 Corrections in Flow Rates During a Day - Balancing Party will be able to request adjustments to actual deliveries at its Delivery Points or cause such requests to be made at any time during the Gas Day by coordinating with Transporter's gas dispatchers. Balancing Party will notify Transporter or cause Transporter to be notified of any such adjustments. Transporter will use reasonable efforts to deliver those changed quantities when the operating conditions on Transporter's system permit, taking into consideration the nominations made by firm customers on Transporter's system. 3.2 Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, may be used by Transporter for purposes of adjustments under this Article III on a daily basis during the production month to determine the estimated Monthly Operational Imbalance at all of the Delivery Point(s). Transporter shall make the estimated Daily Variance and Monthly Operational Imbalance at each Delivery Point available to Balancing Party on or before the third Business Day after each Gas Day. Balancing Party shall make or cause to be made adjustments in nominations and actual deliveries during the production month to adequately control imbalance levels. If the Balancing Party fails to take such corrective action, or fails to cause such corrective action to be taken, Transporter may, upon forty-eight
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CORRECTION OF OPERATIONAL IMBALANCES. 3.1 Corrections in Flow Rates During a Day - Balancing Party will be able to request adjustments to actual deliveries at its Delivery Points at any time during the Gas Day by coordinating with Transporter's gas dispatchers. Transporter will use reasonable efforts to accommodate those changed quantities when the operating conditions on Transporter's system permits, taking into consideration the nominations made by firm customers on Transporter's system. 3.2 Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, may be used by Transporter for purposes of adjustments under this section on a daily basis during the production month to determine the estimated Operational Imbalance at all of the Delivery Point(s). Transporter shall make the estimated Daily Variances and Monthly Operational Imbalance at each Delivery Point available to Balancing Party on or before the third Business Day after each Gas Day. Adjustments in nominations and actual deliveries will be made by Balancing Party during the production month to adequately control imbalance levels. If Balancing Party fails to take such corrective action, Transporter may, upon 48 hours' notice, adjust the Scheduled Quantities and actual deliveries during the remainder of the production month to adequately control imbalance levels. Any such adjustments will be incorporated in the daily nominations confirmed between Transporter and Balancing Party.
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CORRECTION OF OPERATIONAL IMBALANCES. 3.1 Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, shall be used by Transporter for purposes of adjustments under this section on a daily basis during the calendar month to determine the estimated Monthly Operational Imbalance at all of the Receipt Point(s). Transporter shall make the estimated Daily Variances and Monthly Operational Imbalance available to Balancing Party by the end of the third Business Day after each Gas Day. Transporter may make or Balancing Party may make or cause to be made adjustments in nominations and actual deliveries, upon 24 hours notice by making imbalance make up nominations pursuant to this Agreement and in accordance with the applicable provisions of Transporter's FERC Gas Tariff. Any adjustments will offset pre- existing imbalances accrued during that Month. 3.2 Corrections in Subsequent Periods - As soon as practicable following the close of each Month, Transporter will send Balancing Party a statement setting forth the Monthly Operational Imbalance existing at the end of the prior Month. Any Monthly Operational Imbalance shall be resolved in accordance with the provisions of Section 7 of Rate Schedule LMS-PA of Transporter's FERC Gas Tariff.
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CORRECTION OF OPERATIONAL IMBALANCES. Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, shall be used by Transporter for purposes of adjustments under this section on a daily basis during the calendar month to determine the estimated Monthly Operational Imbalance at all of the Receipt Point(s). Transporter shall make the estimated Daily Variances and Monthly Operational Imbalance available to Balancing Party by the end of the third Business Day after each Gas Day. Transporter may make or Balancing Party may make or cause to be made adjustments in nominations and actual deliveries, upon 24 hours notice by making imbalance make up nominations pursuant to this Agreement and in accordance with the applicable provisions of Transporter's FERC Gas Tariff. Any adjustments will offset pre- existing imbalances accrued during that Month.
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CORRECTION OF OPERATIONAL IMBALANCES. 3.1 Corrections During the Month - Estimated metered quantities, or actual metered quantities where available, shall be used by Company for purposes of adjustments under this Section on a daily basis during the calendar month to determine the estimated Operational Imbalance at (all of) the Receipt Point(s). Company shall make the estimated Daily Variances and Monthly Operational Imbalance available to Balancing Party by the end of the third Business Day after each production day. Company may make or Balancing Party may make or cause to be made adjustments in nominations and actual deliveries upon 24 hours’ notice by making imbalance make up nominations pursuant to this Agreement and in accordance with Company's Tariff. Any adjustments will offset pre-existing imbalances accrued during that month. 3.2 Corrections in Subsequent Periods - As soon as practical following the close of each month, Company will send Balancing Party a statement setting forth the accrued Daily Variance Charges and the Monthly Operational Imbalance existing at the end of the prior month. Any Monthly Operational Imbalance shall be resolved in cash in accordance with Rate Schedule LMS-PA of Company's FERC Gas Tariff Volume No. 1, unless the Parties mutually agree otherwise.
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CORRECTION OF OPERATIONAL IMBALANCES 
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Related to CORRECTION OF OPERATIONAL IMBALANCES

  • List of Operator’s Subprocessors [Box 26] [Box 27] [Box 28] [Box 29]

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Statement of Operations Statement of Changes in Net Assets.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.