Common use of The Adjusted ACQ and Minimum ▇▇▇▇ Quantity Clause in Contracts

The Adjusted ACQ and Minimum ▇▇▇▇ Quantity. 9.1.1 For each Contract Year, the “Adjusted Annual Contract Quantity” and the “Minimum ▇▇▇▇ Quantity” shall be calculated in accordance with the following provisions. 9.1.2 The Adjusted Annual Contract Quantity (or “Adjusted ACQ”) shall be a quantity of Gas equal to the ACQ applicable for the relevant Contract Year less the sum of the following: (a) the aggregate of the quantities of Gas Properly Nominated by the Buyer for delivery during the relevant Contract Year which the Sellers did not for any reason make available for delivery (including without limitation failure to deliver as a result of Force Majeure and Sellers’ Maintenance Periods) except any quantities that the Sellers did not deliver in the circumstances of Article 11.5.2 and any failure by the Buyer to take delivery of Gas Properly Nominated and tendered for delivery in accordance with this Agreement; (b) the aggregate of the quantities of Gas Properly Nominated by the Buyer for delivery during the relevant Contract Year which the Buyer did not take and was excused from taking due to Off-Spec Gas; and (c) the aggregate of the quantities of Gas Properly Nominated by the Buyer for delivery during the relevant Contract Year which the Buyer did not take: (i) for reasons for which it was excused from liability under Article 16 (including deemed nominations under Article 6.5.7); (ii) due to [***]. For the purposes of this Article, the Daily quantities of Specification Gas that were Properly Nominated by the Buyer during periods for which it was excused from liability as aforesaid shall be equal to [***]. The Buyer will provide Sellers notice of any [***] within seven (7) Days of its occurrence and if the Buyer fails to do so it shall not be entitled to any reduction of the ACQ in respect of any quantities of Specification Gas it could not take due to such maintenance or curtailment. 9.1.3 The “Minimum ▇▇▇▇ Quantity” (or “MBQ”) shall be a quantity of Gas equal to: (a) For all Contract Years during the First Period, [***] of the Adjusted ACQ applicable for each such Contract Year; and (b) For all Contract Years during the Second Period, [***] of the Adjusted ACQ applicable for each such Contract Year.

Appears in 2 contracts

Sources: Gas Sale and Purchase Agreement (IC Power Pte. Ltd.), Gas Sale and Purchase Agreement (IC Power Pte. Ltd.)