Common use of Monthly Reconciliation Clause in Contracts

Monthly Reconciliation. At the end of each Month, TLO will calculate the total fees that TRMC incurred for shipments on the Short Haul Pipelines during such Month as follows: (i) the Transportation Fee owed by TRMC for actual barrels shipped during such Month; less (ii) any applicable Credits, provided, however, that the Credits applied in any Month shall not exceed the amount of Transportation Fees allocable for such Month to Excess Barrels; plus (iii) any applicable Shortfall Payment for such Month; plus (iv) any monthly surcharges payable for such Month pursuant to Section 5(c).

Monthly Reconciliation. At the end of each Month, TLO will calculate the total fees that TRMC incurred for shipments on the LAR Short Haul Pipelines during such Month as follows: (i) the Transportation Throughput Fee owed by TRMC for actual barrels shipped during such Month; less (ii) any applicable Credits, provided, however, that the Credits applied in any Month shall not exceed the amount of Transportation Throughput Fees allocable for such Month to Excess Barrels; plus (iii) any applicable Shortfall Payment for such Month; plus (iv) any monthly surcharges payable for such Month pursuant to Section 5(c).