Operational Balancing Account Clause Samples

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Operational Balancing Account. The OBA of IP Waidhaus MEGAL and the OBA of IP Waidhaus Ruhrgas are merged into one OBA for the VIP Waidhaus-NCG […]. The rules of the IA Waidhaus MEGAL stipulated in “Article 3.6 Flow Control/Imbalance handling/Allocation” shall apply for OBA of the VIP Waidhaus-NCG.
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Operational Balancing Account. 6.1 GTS and OGE will continuously calculate the OBA. For the after-the-month- process, GTS will calculate the accountable OBA and provide these figures to OGE for final comparison, in order to have consistent accountable OBA figures. 6.2 The VIP OBA limit shall be the sum of the OBA limits of the Interconnection Points. If the absolute value of the VIP OBA reaches the VIP OBA limit, GTS and OGE may agree to extend the VIP OBA limit in order to furthermore allocate any steering differences to the OBA and thus to provide allocations to shippers that are equal to their confirmed quantities. The extension of the VIP OBA limit shall be deemed to be agreed upon if and as far as neither GTS nor OGE requests to bring back the VIP OBA within the VIP OBA limit. 6.3 In case GTS or OGE explicitly requests to bring back the VIP OBA within the VIP OBA limit, GTS and OGE will discuss and agree on a schedule. 6.4 If the VIP OBA limit is exceeded and suffers further increase pro rata allocation can be applied after the other Parties have been informed. If pro rata allocation is executed the concerned Parties will without undue delay inform their shippers about the changed allocation. For the avoidance of doubt, if pro rata allocation is executed it shall be valid for all shipper code pairs at the VIP and the underlying Interconnection Points.
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Operational Balancing Account. 6.1 GTS and OGE shall continuously calculate the VIP-TTF-THE-L OBA. For the after-the-month-process, GTS shall calculate the accountable VIP TTF-THE-L OBA and provide these figures to OGE for final comparison, in order to have consistent accountable VIP TTF-THE-L OBA figures. The metering data of the previous month shall not be modified after the end of the current month minus two Business Days. 6.2 The VIP TTF-THE-L OBA limit shall be the sum of the OBA limits of all the Interconnection Points. If the absolute value of the VIP TTF-THE-L OBA reaches the VIP TTF-THE-L OBA limit, GTS and OGE may agree to extend the VIP TTF-THE-L OBA limit in order to furthermore allocate steering differences to the VIP-TTF-THE-L OBA and thus to provide allocations to shippers that are equal to their confirmed quantities. The extension of the VIP TTF-THE-L OBA limit shall be deemed to be agreed upon if and as far as neither GTS nor OGE requests to bring back the VIP TTF-THE-L OBA within the VIP TTF-THE-L OBA limit. 6.3 In case GTS or OGE explicitly requests to bring back the VIP TTF-THE-L OBA within the VIP TTF-THE-L OBA limit, GTS and OGE will discuss and agree on a schedule. 6.4 If the VIP TTF-THE-L OBA limit is exceeded and suffers further increase, pro rata allocation can be applied, subject to Article 7.2, after the Parties have been duly informed by the initiating Party. If pro rata allocation is executed the concerned Parties shall without undue delay inform their shippers about the changed allocation. For the avoidance of doubt, if pro rata allocation is executed it shall be valid for all shipper code pairs at the VIP TTF-THE-L and the underlying Interconnection Points.
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Operational Balancing Account. 4.6.1. The Parties undertake to put effort so as to maintain TBP as close as possible to zero, in order to ensure that the LR specified in paragraph 4.6.2 is not violated. 4.6.2. The LR is specified by its lower limit value (LRlow), which is set to -8,500,000 kWh and its upper limit value (LRup) which is set to 8,500,000 kWh. The lower and / or upper value of the LR may be changed upon mutual agreement of DESFA and BULGARTRANSGAZ, in case of justified operational needs, including but not limited to: (a) Exceptional events (b) Unplanned maintenance works (c) Scheduled flow below the BMS Sidirokastron minimum measurement and / or flow control limits. (d) Increase or decrease of the IP’s technical capacity. Upon written request issued by one of the Parties, the Parties may agree to expand the limits of the LR, prior to the execution of the indicative and / or the final allocation of the Natural Gas quantities for a Day D or for a certain number of Days. 4.6.3. In order to carry out the indicative allocation of the Natural Gas quantities to each Pair of Network Users, for a Day D, the Parties shall check whether the LR, applicable for that Day D, is violated. (i) If for the Day D ,, −1 + ∑ or ,, −1 + ∑ − ∑ ,, − ∑ ,, − > − < the Parties shall carry out the indicative allocation of Natural Gas quantities in accordance with the provisions of paragraph 4.5.4. (ii) If for the Day D ,, ≤ −1 + ∑ − ∑ ,, − ≤ the Parties shall carry out the indicative allocation of Natural Gas quantities in accordance with the provisions of paragraph 4.5.2. 4.6.4. In order to carry out the final allocation of the Natural Gas quantities to each Pair of Network Users, for each Day D of the Month M, the Parties shall check, based on validated measurements, whether the LR, applicable for that Day D, is violated. (i) If for the Day D ,, −1 + ∑ or ,, −1 + ∑ − ∑ ,, − ∑ ,, − > − < the Parties shall carry out the final allocation of Natural Gas quantities in accordance with the provisions of paragraph 4.5.4. (ii) If for the Day D ,, ≤ −1 + ∑ − ∑ ,, − ≤ the Parties shall carry out the final allocation of Natural Gas quantities in accordance with the provisions of paragraph 4.5.2. 4.6.5. Prior to the termination of the Interconnection Agreement, the Parties shall endeavour to settle in kind the TBP by adjusting the flow through the IP appropriately. If the TBP, that will be calculated at the last Day of implementation of the Interconnection Agreement is different than zero (0), then the Parties sh...
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Operational Balancing Account. 9.1. The Parties shall strive to reach an equality between the Confirmed Quantities and the actually Measured Quantities at the IP in order to maintain TBP as close as possible to zero, and to ensure that the LR specified in paragraph 9.2 is not violated. 9.2. The LR is specified by its lower limit value, which is set to – 2 400 000 kWh and its upper limit value which is set to 2 400 000 kWh. The lower and / or upper value of the LR may be changed upon mutual agreement of BULGARTRANSGAZ and GA-MA. 9.3. If the Parties operationally agree, one of the following articles maybe applied: (a) temporarily expand the limits of LR for a certain number of consecutive Gas Days. The OBA expansion can be requested either before the end of the Gas Day D, when it becomes clear that there will be such situation (so the necessary actions are taken in due time), or once the Gas Day D has ended and the exact quantities exceeding the OBA limits are already known. The requests and the approvals of such temporary OBA limits expansion shall be submitted to the other Party in written form by e-mail. Any additional information can be clarified in advance by phone. In the requesting e-mail there should be a proposed deadline within which the requesting party will make all efforts to restore the TBP back in the normal OBA limits stated in paragraph 9.2. Approvals should be received by the requesting party before CET 9:00 of Gas Day D+1, in order to abide by the deadlines for allocation of the quantities. Both parties shall appoint their representatives and their contact information (email addresses, phone numbers and names if applicable), authorized to request and approve temporary OBA limits expansion for a specified time period. Both parties shall inform the other side in due time if any changes occur in the list of authorized representatives and their contact information. оr (b) suspend the implementation of the OBA allocation procedure, and apply the pro-rata allocation procedure, as per paragraph 8.4, for any Gas Day D at the end of which the TBP is not within the limits of LR. Each Gas Day D for which the pro-rata allocation procedure applies, the OBA is updated by calculating the TBP, considering DBP that equals to zero (0).
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Operational Balancing Account. 9.1 The Parties shall strive to reach an equality between the confirmed quantities and the actually metered quantities at the IP in order to maintain TBP as close as possible to zero, and to ensure that the LR specified in paragraph 9.2 is not violated. 9.2 The LR is specified by its lower limit value, which is set to kWh and its upper limit value which is set to kWh. The lower and / or upper value of the LR may be changed upon mutual agreement of ICGB and BTG, in case of justified operational needs, including but not limited to: (a) Exceptional events (b) Unplanned maintenance works (c) Scheduled flow below the GMS Stara Zagora minimum measurement and / or flow control limits. (d) Increase or decrease of the IP’s technical capacity. 9.3 In order to carry out the indicative allocation of the Natural Gas quantities to each Pair of Network Users, for Day D, the Parties shall verify whether the LR, applicable for that Day D, is violated.
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Operational Balancing Account. The OBA of IP Waidhaus MEGAL and the OBA of IP Waidhaus Ruhrgas are merged into one OBA for the VIP Waidhaus-NCG which amounts in total to 12,500,000 kWh. The OBA protocol is attached in Annex 1 to the VIP Agreement. This protocol substitutes the OBA protocol from Amendment No. 2 Annex 6, point 2.18 of the Waidhaus-MEGAL IA. The rules of the IA Waidhaus MEGAL stipulated in “Article 3.6 Flow Control/Imbalance handling/Allocation” shall apply for OBA of the VIP Waidhaus-NCG.
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Operational Balancing Account. 9.1. The Parties shall strive to reach an equality between the Confirmed Quantities and the actually Measured Quantities at the IP in order to maintain TBP as close as possible to zero, and to ensure that the LR specified in paragraph 9.2 is not violated. 9.2. The LR is specified by its lower limit value, which is set to – … kWh and its upper limit value which is set to … kWh. The lower and / or upper value of the LR may be changed upon mutual agreement of BULGARTRANSGAZ and GA-MA. 9.3. If the Parties operationally agree, one of the following articles maybe applied: (a) temporarily expand the limits of LR for a certain number of consecutive Gas Days. The OBA expansion can be requested either before the end of the Gas Day D, when it becomes clear that there will be such situation (so the necessary actions are taken in due time), or once the Gas Day D has ended and the exact quantities exceeding the OBA limits are already known. The requests and the approvals of such temporary OBA limits expansion shall be submitted to the other Party in written form by e-mail. Any additional information can be clarified in advance by phone. In the requesting e-mail there should be a proposed deadline within which the requesting party will make all efforts to restore the TBP back in the normal OBA limits stated in paragraph
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Operational Balancing Account. GTS and OGE shall continuously calculate the VIP-TTF-THE-L OBA. For the after-the-month-process, GTS shall calculate the accountable VIP TTF-THE-L OBA and provide these figures to OGE for final comparison, in order to have consistent accountable VIP TTF-THE-L OBA figures. The metering data of the previous month shall not be modified after the end of the current month minus two Business Days.
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Related to Operational Balancing Account

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes: (i) to pay to such Servicer (to the extent not previously retained by such Servicer) the servicing compensation to which it is entitled pursuant to Section 3.14, and to pay to such Servicer, as additional servicing compensation, earnings on or investment income with respect to funds in or credited to such Collection Account; (ii) to reimburse such Servicer for unreimbursed Advances made by it, such right of reimbursement pursuant to this subclause (ii) being limited to amounts received on the Non-Designated Mortgage Loan(s) in respect of which any such Advance was made (including without limitation, late recoveries of payments, Liquidation Proceeds and Insurance Proceeds to the extent received by such Servicer); (iii) to reimburse such Servicer for any Nonrecoverable Advance previously made or any amount expended pursuant to Section 3.11(a); (iv) to reimburse such Servicer for (A) unreimbursed Servicing Advances, such Servicer’s right to reimbursement pursuant to this clause (A) with respect to any Non-Designated Mortgage Loan being limited to amounts received on such Non-Designated Mortgage Loan which represent late payments of principal and/or interest (including, without limitation, Liquidation Proceeds and Insurance Proceeds with respect to such Mortgage Loan) respecting which any such advance was made and (B) for unpaid Servicing Fees as provided in Section 3.11 hereof; (v) to pay to the purchaser, with respect to each Non-Designated Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.11, all amounts received thereon after the date of such purchase; (vi) to make any payments required to be made pursuant to Section 2.07(g); (vii) to withdraw any amount deposited in such Collection Account and not required to be deposited therein; (viii) on the Cash Remittance Date, to withdraw an amount equal to the portion of the Available Distribution Amount applicable to the Non-Designated Mortgage Loans serviced by such Servicer, who will remit the aggregate of such amounts to the Trust Administrator for deposit in the Certificate Account; (ix) with respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy pursuant to Section 3.09(c) to the extent not deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c); and (x) to clear and terminate such Collection Account upon termination of this Agreement pursuant to Section 11.01 hereof. Each Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the related Collection Account pursuant to such subclauses (i), (ii), (iv) and (v). Prior to making any withdrawal from a Collection Account pursuant to subclause (iii) of a Nonrecoverable Advance, the related Servicer shall deliver to the Trust Administrator a certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by such Servicer to be a Nonrecoverable Advance and identifying the related Non-Designated Mortgage Loans(s), and their respective portions of such Nonrecoverable Advance. In connection with the payment of a Purchase Price, if a Servicer is not required to remit unreimbursed Servicing Advances as specified in the definition of Purchase Price, such Servicer shall be deemed to have been reimbursed for such amount. (b) The Trust Administrator shall withdraw funds from the Certificate Account for distributions to Certificateholders in the manner specified in this Agreement (and to withhold from the amounts so withdrawn, the amount of any taxes that it is authorized to withhold pursuant to Section 2.07). In addition, the Trust Administrator may from time to time make withdrawals from the Certificate Account for the following purposes: (i) to pay to itself the Trust Administrator Fees to which it is entitled pursuant to Section 10.05 and any investment income earned for the related Distribution Date, and to pay to itself or the Master Servicer any other amounts in respect of reimbursement of costs, expenses, indemnification or other amounts to which it or the Master Servicer is entitled to reimbursement or payment under the terms of this Agreement; (ii) to withdraw and return to the Master Servicer or the applicable Servicer, in the case of the applicable Servicer for deposit to the applicable Collection Account, any amount deposited in the Certificate Account and not required to be deposited therein; and (iii) to clear and terminate the Certificate Account upon termination of the Agreement pursuant to Section 11.01 hereof.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.04: (i) to remit to the Trustee for deposit in the Distribution Account the amounts required to be so remitted pursuant to Section 3.10(b) or permitted to be so remitted pursuant to the first sentence of Section 3.10(d); (ii) subject to Section 3.16(d), to reimburse the Master Servicer for (a) any unreimbursed Advances to the extent of amounts received which represent Late Collections (net of the related Servicing Fees) of Monthly Payments, Liquidation Proceeds and Insurance Proceeds on Mortgage Loans with respect to which such Advances were made in accordance with the provisions of Section 4.04; (b) any unreimbursed Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer for such unreimbursed Advances; or (c) subject to Section 4.04(b), any unreimbursed Advances to the extent of funds held in the Collection Account for future distribution that were not included in Available Funds for the preceding Distribution Date; (iii) subject to Section 3.16(d), to pay the Master Servicer or any Sub-Servicer (a) any unpaid Servicing Fees, (b) any unreimbursed Servicing Advances with respect to each Mortgage Loan, but only to the extent of any Late Collections, Liquidation Proceeds, Insurance Proceeds and condemnation proceeds received with respect to such Mortgage Loan, and (c) any Servicing Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer or any Sub-Servicer for Servicing Advances; (iv) to pay to the Master Servicer as servicing compensation (in addition to the Servicing Fee) on the Master Servicer Remittance Date any interest or investment income earned on funds deposited in the Collection Account; (v) to pay to the Originator, with respect to each Mortgage Loan that has previously been purchased or replaced pursuant to Section 2.03 or Section 3.16(c) all amounts received thereon subsequent to the date of purchase or substitution, as the case may be; (vi) to reimburse the Master Servicer for any Advance or Servicing Advance previously made which the Master Servicer has determined to be a Nonrecoverable Advance in accordance with the provisions of Section 4.04; (vii) to pay, or to reimburse the Master Servicer for Servicing Advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 3.16(b); (viii) to reimburse the Master Servicer for expenses incurred by or reimbursable to the Master Servicer pursuant to Section 6.03; (ix) to reimburse the NIMS Insurer, the Master Servicer (if the Master Servicer is not an Affiliate of the Originator) or the Trustee, as the case may be, for enforcement expenses reasonably incurred in respect of the breach or defect giving rise to the purchase obligation under Section 2.03 of this Agreement that were included in the Purchase Price of the Mortgage Loan, including any expenses arising out of the enforcement of the purchase obligation;

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Master Servicer shall withdraw from the Master Servicer Collection Account (i) any expenses recoverable by the Trustee, the Master Servicer or the Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14. (c) In addition, on or before each Distribution Account Deposit Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans. (d) No later than 3:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all Available Funds on deposit in the Master Servicer Collection Account with respect to the related Distribution Date to the Trustee for deposit in the Distribution Account.