Recovery of Make-up Aggregate Clause Samples

The "Recovery of Make-up Aggregate" clause defines the process by which a party can compensate for shortfalls in the delivery or performance of aggregate materials under a contract. Typically, this clause outlines the conditions under which missed or insufficient deliveries can be rectified, such as by supplying additional aggregate in subsequent periods or through alternative arrangements agreed upon by both parties. Its core practical function is to ensure that contractual obligations regarding aggregate quantities are ultimately fulfilled, thereby minimizing disputes and maintaining project timelines despite temporary setbacks.
Recovery of Make-up Aggregate. 9.4.1 The Buyer shall be entitled to recover Make-Up Aggregate without additional cost in accordance with the provisions of this Article 9.4 hereinafter. In relation to each Contract Year, at the commencement of which any Make-Up Aggregate exists, the Buyer shall receive a quantity credit (in MMBTU) in respect of any Gas taken and paid for by the Buyer in excess of the MBQ in the relevant Year up to the balance of the then outstanding Make-Up Aggregate. 9.4.2 The quantities to be used in so reducing the Make-Up Aggregate shall be established by applying the first in first out principle to the quantities constituting the Make-Up Aggregate. 9.4.3 The quantity credit in respect of any Gas taken and paid for by the Buyer in excess of the MBQ and up to the balance of the then outstanding Make-Up Aggregate mentioned in Article 9.4.1 shall be converted to a monetary credit by multiplying such quantity with the Contract Price in effect at the time Buyer recovered such Make-Up Aggregate. 9.4.4 The monetary credit calculated in accordance with Article 9.4.3 shall be taken into account in the Annual Reconciliation Statement in respect of such Year. 9.4.5 Any such credit to the Buyer shall be deemed to be a recovery of Make-Up Aggregate by the Buyer to the extent of the quantity corresponding to such credit and the outstanding balance (if any) of Make-Up Aggregate shall be reduced commensurately. 9.4.6 Notwithstanding the foregoing provisions of this Article 9.4, if at what would otherwise be the end of the Contract Period there is any Make-Up Aggregate outstanding, then, at Sellers’ option, which will be notified to Buyer by not later than one hundred and twenty (120) Days before the end of the Contract Period: (a) This Agreement shall not terminate on that date but shall continue in full force and effect for a number of Days equal to the Make-Up Aggregate divided by [***] of the DCQ in effect during the last Contract Year or twelve (12) Months, whichever is shorter. During this period, the provisions of this Agreement will continue to apply mutatis mutandis (in order to avoid any doubt, Article 9.3 will not apply); or (b) On the last Day of the month immediately following the month in which such termination occurs the Sellers shall [***].
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Recovery of Make-up Aggregate. 9.5.1 In relation to each Contract Year at the commencement of which any Make-Up Aggregate exists, the Buyer shall receive a quantity credit (in MMBTU) in respect of any Specification Gas taken and paid for by the Buyer in excess of the (**) in the relevant Contract Year up to the balance of the then outstanding Make-Up Aggregate. 9.5.2 The quantities to be used in so reducing the Make-Up Aggregate shall be established by (**). 9.5.3 The quantity credit mentioned in Article ‎9.5.1 shall be converted to a monetary credit by multiplying such quantity with a price equal to the Contract Price applicable in respect of the Contract Year in which such Make-Up Aggregate is recovered, together with interest thereon at the rate of LIBOR plus one (1) percentage point from the day (or if applicable, from each of the days) on which the Buyer made payment in respect of Gas taken by the Buyer in excess of the Minimum ▇▇▇▇ Quantity in the relevant Contract Year (which is subsequently deducted from the Make-Up Aggregate), until payment of the relevant credit amount.
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Related to Recovery of Make-up Aggregate

  • Delivery of Collections Subject to Section 2.9(d) hereof, the Borrower will deposit or cause to be deposited to the Collection Account promptly (but in no event later than two (2) Business Days after receipt) all Collections received by the Borrower in respect of the Loans or the Contracts.

  • Recovery of Overpayments On occasion a payment will be made to You when You are not covered, for a service that is not Covered, or which is more than is proper. When this happens We will explain the problem to You and You must return the amount of the overpayment to Us within 60 days after receiving notification from Us. However, We shall not initiate overpayment recovery efforts more than 24 months after the original payment was made unless We have a reasonable belief of fraud or other intentional misconduct.

  • Recovery of Payments If Agent pays any amount to a Lender in the expectation that a related payment will be received by Agent from an Obligor and such related payment is not received, then Agent may recover such amount from each Lender that received it. If Agent determines at any time that an amount received under any Loan Document must be returned to an Obligor or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay to Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.

  • RECOVERY OF ADDITIONAL COSTS If the imposition of or any change in any law, rule, regulation or guideline, or the interpretation or application of any thereof by any court or administrative or governmental authority (including any request or policy not having the force of law) shall impose, modify or make applicable any taxes (except U.S. federal, state or local income or franchise taxes imposed on Lender), reserve requirements, capital adequacy requirements or other obligations which would (a) increase the cost to Lender for extending or maintaining the credit facilities to which this Agreement relates, (b) reduce the amounts payable to Lender under this Agreement or the Related Documents, or (c) reduce the rate of return on Lender's capital as a consequence of Lender's obligations with respect to the credit facilities to which this Agreement relates, then Borrower agrees to pay Lender such additional amounts as will compensate Lender therefor, within five (5) days after Lender's written demand for such payment, which demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional amounts payable by Borrower, which explanation and calculations shall be conclusive in the absence of manifest error.

  • Recovery of Sums Due Wherever under this Framework Agreement any sum of money is recoverable from or payable by the Contractor to the Authority, the Authority may deduct that sum from any sum due to the Contractor whether under a Call-off Contract or otherwise.