Common use of Responsibility for Payment of Charges Clause in Contracts

Responsibility for Payment of Charges. (a) During the term of the Capacity Release, Counterparty shall retain responsibility for one hundred percent (100%) of the aggregate total of the reservation charges, reservation surcharges and other fixed charges (including, but not limited to Gas Research Institute (GRI) surcharges, if any), attributable to the Asset Portfolio. All amounts so paid by Counterparty during the term of the Capacity Release shall be paid in accordance with the various applicable payment terms and provisions of the contracts released and applicable Tariffs. To the extent that any such fixed charges are invoiced to and paid by Manager, Counterparty shall promptly reimburse Manager for such amounts. (b) During the term of the Capacity Release, Manager shall pay to each Transporter, as applicable, all variable costs, including, without limitation, commodity charges, gathering and offshore charges, fuel adjustments, overrun charges, and any other applicable variable charges and penalties attributable to the Asset Portfolio. All amounts so paid by Manager during the term of the Capacity Release shall be paid in accordance with the various applicable payment terms and provisions of the contracts released and applicable Tariffs. (c) With respect to the Capacity Release assets, Manager shall pay directly to Counterparty all pipeline refunds or credits received by Manager, if any, (1) for periods prior to November 1, 2013, (2) for reservation charges and surcharges through the term of this Agreement, and (3) refunds or credits for commodity charges and surcharges which are related to shipments of Gas received by Counterparty during the term of this Agreement.

Appears in 1 contract

Sources: Natural Gas Asset Management Agreement (RGC Resources Inc)

Responsibility for Payment of Charges. (a) During the term of the Capacity Release, Counterparty shall retain responsibility for one hundred percent (100%) of the aggregate total of the reservation charges, reservation surcharges and other fixed charges (including, but not limited to Gas Research Institute (GRI) surcharges, if any), attributable to the Asset Portfolio. All amounts so paid by Counterparty during the term of the Capacity Release shall be paid in accordance with the various applicable payment terms and provisions of the contracts released and applicable Tariffs. To the extent that any such fixed charges are invoiced to and paid by Manager, Counterparty shall promptly reimburse Manager for such amounts. (b) During the term of the Capacity Release, Manager shall pay to each Transporter, as applicable, all variable costs, including, without limitation, commodity charges, gathering and offshore charges, fuel adjustments, overrun charges, and any other applicable variable charges and penalties attributable to the Asset Portfolio. All amounts so paid by Manager during the term of the Capacity Release shall be paid in accordance with the various applicable payment terms and provisions of the contracts released and applicable Tariffs. (c) With respect to the Capacity Release assets, Manager shall pay directly to Counterparty all pipeline refunds or credits received by Manager, if any, (1) for periods prior to November April 1, 20132018, (2) for reservation charges and surcharges through the term of this Agreement, and (3) refunds or credits for commodity charges and surcharges which are related to shipments of Gas received by Counterparty during the term of this Agreement.

Appears in 1 contract

Sources: Natural Gas Asset Management Agreement (RGC Resources Inc)