Lion Crude Minimum Throughput Commitment definition

Lion Crude Minimum Throughput Commitment means an aggregate amount of Crude Oil equal to 46,000 bpd multiplied by the number of calendar days in the Contract Quarter.
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Examples of Lion Crude Minimum Throughput Commitment in a sentence

  • During each Contract Quarter during the Term and subject to the terms and conditions of this Agreement, the Company agrees that commencing on the Commencement Date, the Company will ship on (i) the Lion Crude Pipelines, the Lion Crude Minimum Throughput Commitment, (ii) the Gathering System, the Gathering System Minimum Throughput Commitment and (iii) the Products Pipelines, the Product Minimum Throughput Commitment.

Related to Lion Crude Minimum Throughput Commitment

  • Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum Volume Commitment.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Facility Production Limit means the production limit placed on the main product(s) or raw materials used by the Facility that represents the design capacity of the Facility and assists in the definition of the operations approved by the Director.

  • Contract Quantity means the total number shares, contracts or other units of the Underlying Instrument that the Client is notionally buying or selling;