Monthly Minimum Volume Commitment definition

Monthly Minimum Volume Commitment means the volume of Ethane a Committed Shipper has committed to ship each Month on the System, as set forth in the Committed Shipper’s TSA.
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Monthly Minimum Volume Commitment for any Month means the product of (a) the Minimum Volume Commitment, and (b) the number of days in such Month.
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Monthly Minimum Volume Commitment means the product of the minimum daily volume commitment of Crude Petroleum for a specified Path (as defined in such Committed Shipper’s TSA) on the Pipeline set out in Schedule A to a Committed Shipper’s TSA and the number of days in the relevant month.
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Examples of Monthly Minimum Volume Commitment in a sentence

  • Uncommitted volumes will include volumes in excess of the Monthly Minimum Volume Commitment under this Agreement.

  • During the FM Make-up Extension Period and/or Shipper FM Make-up Extension Period, Shipper shall be obligated to Ship its Monthly Minimum Volume Commitment and to make any Deficiency Payment in accordance with Section 5(c).

  • Commencing on the Commencement Date, during each Month of the Term, Shipper shall Ship, or pay a Deficiency Payment for failure to Ship, its Monthly Minimum Volume Commitment, in accordance with the provisions of this Agreement.

  • If Shipper Ships less than its Monthly Minimum Volume Commitment in any Month of the Term commencing on the Commencement Date, in addition to paying Carrier the applicable Incentive Rate for the actual number of barrels that Shipper Shipped for such Month, Shipper shall also pay Carrier an amount equal to Shipper’s Monthly Deficient Barrels multiplied by the Incentive Rate applicable to the Monthly Minimum Volume Commitment, as set forth in Exhibit A (“Deficiency Payment”).

  • Subject to available capacity, Shipper shall have the right during the Term, but not the obligation, to Ship Crude Petroleum in excess of Shipper’s Monthly Minimum Volume Commitment from the Origin(s) to the Destination (“Extra Barrels”).


More Definitions of Monthly Minimum Volume Commitment

Monthly Minimum Volume Commitment means, for any Committed Shipper, such Committed Shipper’s Minimum Volume Commitment multiplied by the number of calendar days in the relevant Proration Month.
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Monthly Minimum Volume Commitment means Shipper’s Minimum Volume Commitment in the applicable Month multiplied by the number of days in the applicable Month.
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Related to Monthly Minimum Volume 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.

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

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

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.