Minimum Volume Commitment definition

Minimum Volume Commitment or “MVC” has the meaning given such term in Section 6.1.
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Minimum Volume Commitment means any “ship or pay” or other similar arrangement where a Person (a) commits to utilize a minimum capacity in a pipeline or otherwise guarantees a minimum thru-put volume in respect of a pipeline, processing or other midstream facility and (b) agrees to pay for such capacity or thru-put regardless of whether such capacity or thru-put is actually utilized.
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Minimum Volume Commitment means, pursuant to a gas gathering or similar agreement, a commitment of a third party to deliver specified minimum volumes of natural gas to the gathering systems of the Partnership.
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Examples of Minimum Volume Commitment in a sentence

  • Carrier shall exercise due diligence to provide access to regularly scheduled sailings, space aboard such sailings and service adequate to accommodate Shipper's normal service requirements for the Minimum Volume Commitment reasonably spread over the Duration of this Contract.

  • Shipments moving on Bills of Lading (or Sea Waybills) not so annotated shall not be counted toward Shipper's Minimum Volume Commitment; provided however, that Shipper shall have reasonable time within which to remedy such omission after the fact.

  • At such time as ▇▇▇▇▇▇ is capable of transloading volumes equal to the Minimum Capacity, AES’s obligation to pay the full Skid Transloading Fees and any Monthly Shortfall Payments based on the non-reduced Minimum Volume Commitment shall be fully restored.

  • This Agreement shall commence as of the date first set forth above and continue for as long as the Minimum Volume Commitment is being met by Smart Rx. If Smart Rx fails to meet its Minimum Volume Commitment, ScriptPro may elect to terminate this Agreement at any time thereafter by giving Smart Rx 30 days prior written notice.

  • If this Agreement is terminated as to a Terminal under this Section 31, then Tesoro’s Minimum Throughput Commitment shall be adjusted to the Adjusted Minimum Volume Commitment for the remaining unaffected Terminals, by deducting the applicable Stipulated Volume for the Terminal so removed from this Agreement.


More Definitions of Minimum Volume Commitment

Minimum Volume Commitment means 7,600 Barrels per Day multiplied times the number of Days during the applicable calendar Month.
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Minimum Volume Commitment means any contract or analogous arrangement containing a “take-or-pay”, “ship-to-pay”, purchase and sale agreement, advance payment, prepayment or similar provision that (a) contains a commitment by the Borrower or any of the Subsidiaries to a minimum capacity in a gathering system, pipeline, compression, treatment, disposal or other midstream, downstream, transportation or similar facility or otherwise guarantees a fixed fee or minimum thru-put volume, minimum revenue or minimum return in respect of a marketing or purchase and sale arrangement or a gathering system, pipeline, processing, compression treatment, disposal or other midstream, downstream, transportation or similar facility or arrangement or the capital utilized to construct or acquire any of the foregoing, (b) includes an agreement by such Person to pay for such commitment regardless of whether such capacity or thru-put is actually utilized or otherwise pay for such fixed fee or guaranteed amount irrespective of the utilization of facilities or volumes provided for sale under a purchase and sale arrangement or similar marketing arrangement and (c) cannot be cancelled or terminated unless more than six (6) months’ advance notice is given; provided that, for the avoidance of doubt, any contract fulfilling the requirements of (a) and (b) but whose term is six (6) months or less shall not be a Minimum Volume Commitment.
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Minimum Volume Commitment shall have the meaning assigned to such term in Section 6.4.
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Minimum Volume Commitment means the level of Product a Committed Shipper has committed to ship each Month on the System, as such amount is set forth in the Committed Shipper’s TSA.
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Minimum Volume Commitment has the meaning given such term in Section 9.1.
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Minimum Volume Commitment means the minimum volume commitment of Equipment to be purchased by and delivered to Customer each quarter as set forth on Exhibit B.
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Minimum Volume Commitment has the meaning set forth in Section 2(a)(i).
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