INTERRUPTIBLE MINIMUM ANNUAL VOLUME Sample Clauses

The INTERRUPTIBLE MINIMUM ANNUAL VOLUME clause sets a baseline quantity of goods or services that must be delivered or purchased annually, but allows for interruptions or reductions under specified circumstances. Typically, this clause applies in supply agreements where the buyer commits to a minimum purchase, but the seller retains the right to temporarily suspend or reduce deliveries due to operational constraints, force majeure, or other defined events. Its core function is to balance the buyer’s need for supply certainty with the seller’s need for operational flexibility, thereby allocating risk and clarifying expectations in situations where uninterrupted supply cannot be guaranteed.
INTERRUPTIBLE MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Interruptible Minimum Annual Volume (“AIMAV”) as determined in the formula below. This AIMAV will not be less than the minimum quantity required to qualify for interruptible service in the M4 Rate Schedule. The interruptible quantity not consumed in any Contract Year (the "Interruptible Deficiency Volume") (“IDV”) shall be determined in the formula below. Where: IMAV Interruptible Minimum Annual Volume (as identified in Schedule 1) CDI = Interruptible Contract Demand DI = number of days of interruption in the Contract Year IV = total interruptible volume taken in the Contract Year I = volumes delivered to the Points of Consumption during an interruption The payment required for the IDV shall be calculated by multiplying the IDV by the MAV Delivery charge specified in the Rate M4 Rate Schedule as of the last day of the Contract Year . This payment would only apply if the IDV was greater than zero.
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INTERRUPTIBLE MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Interruptible Minimum Annual Volume (“AIMAV”) as determined in the formula below. The interruptible quantity not consumed in any Contract Year (the "Interruptible Deficiency Volume") (“IDV”) shall be determined in the formula below. Where:
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INTERRUPTIBLE MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Interruptible Minimum Annual Volume (“AIMAV”) as determined in the formula below. The interruptible quantity not consumed in any Contract Year (the "Interruptible Deficiency Volume") ( “IDV”) shall be determined in the formula below. AIMAV = IMAV x [(U – DI) / U] IDV = AIMAV - (IV – I) Where:I U DI === Interruptible Minimum Annual Volume (as identified in Schedule 1) number of days in the Contract Year number of days of interruption in the Contract Year IV = total interruptible volume taken in the Contract Year I = volume delivered to point of consumption during an interruption The payment required for the IDV shall be calculated by multiplying IDV by the Monthly Interruptible Delivery Commodity Charge as of the last day of the Contract Year. This payment would only apply if the IDV was greater than zero.
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INTERRUPTIBLE MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Interruptible Minimum Annual Volume (“AIMAV”) as determined in the formula below. This AIMAV will not be less than the minimum quantity required to qualify for interruptible service in the M4 Rate Schedule. The interruptible quantity not consumed in any Contract Year (the "Interruptible Deficiency Volume") (“IDV”) shall be determined in the formula below. AIMAV = IMAV – (CDI x DI) IDV = AIMAV – (IV – I) Where: IMAV Interruptible Minimum Annual Volume (as identified in Schedule 1) CDI = Interruptible Contract Demand DI = number of days of interruption in the Contract Year IV = total interruptible volume taken in the Contract Year I = volumes delivered to the Points of Consumption during an interruption The payment required for the IDV shall be calculated by multiplying the IDV by the MAV Delivery charge specified in the Rate M4 Rate Schedule as of the last day of the Contract Year . This payment would only apply if the IDV was greater than zero.
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Related to INTERRUPTIBLE MINIMUM ANNUAL VOLUME

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • MINIMUM ORDER QUANTITY The State makes no commitment to purchase any minimum or maximum quantity, or dollar volume of products from the selected suppliers. Utilization of this agreement will be on an as needed basis by State Agencies and/or Cooperative Participants, Cities, Counties, Schools K-12, Colleges and Universities. The State will award to multiple suppliers; however, the State reserves the right to purchase like and similar products from other suppliers as necessary to meet operational requirements.