Minimum Throughput Commitment definition

Minimum Throughput Commitment means an aggregate amount of Products equal to 100,000 bpd (on a monthly average basis); provided however, that the Minimum Throughput Commitment during the Month in which the Commencement Date occurs shall be prorated in accordance with the ratio of the number of days including and following the Commencement Date in such Month to the total number of days in such Month.
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Minimum Throughput Commitment means, with respect to each Contract Quarter, an aggregate amount of Products received at the Terminal equal to at least 85,000 bpd of Products, multiplied by the number of calendar days in such Contract Quarter; provided, however, that from the Commencement Date through September 30, 2014, which for the purposes of this Agreement shall be treated as one Contract Quarter, the Minimum Throughput Commitment shall be an aggregate amount of Products received at the Terminal equal to 75,000 bpd of Products, multiplied by the number of calendar days in such Contract Quarter.
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Minimum Throughput Commitment means the quantity of Product to be transported, stored or loaded in connection with an Applicable Asset, as set forth on Exhibit C, as such amount may be adjusted pursuant to the terms of this Agreement.
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Examples of Minimum Throughput Commitment in a sentence

  • The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitment to any subsequent Contract Quarter.

  • All volumes throughput by the Company Designee will be taken into account in the determination of whether the Company has satisfied its Minimum Throughput Commitment.

  • The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by the Company of the Shortfall Payment shall relieve the Company of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter.

  • The Company shall have the right to throughput volumes in excess of its Minimum Throughput Commitment (“Excess Throughput”), up to the then-available capacity of the Terminal, as reasonably determined by the Operator in good faith at any time (after giving effect to the physical and operational constraints of the Terminal and the capacity contractually committed to third parties).

  • At such time as TLO is capable of terminalling volumes equal to the Minimum Throughput Commitment, Tesoro’s obligation to throughput the full Minimum Throughput Commitment shall be restored.


More Definitions of Minimum Throughput Commitment

Minimum Throughput Commitment means, with respect to each Contract Quarter and each Applicable Asset, the product of (i) the quantity of Feedstock to be delivered by the Applicable Refinery Owner to HEP Operating at the location of the Applicable Asset on a daily basis, as set forth on Exhibit C and (ii) the number of days in such Contract Quarter, as such amount may be adjusted pursuant to the terms of this Agreement.
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Minimum Throughput Commitment means an aggregate amount of Crude Oil equal to 35,000 bpd multiplied by the number of calendar days in the Contract Quarter.
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Minimum Throughput Commitment means an aggregate amount of Products received at the Terminal equal to at least 5,000 bpd multiplied by the number of calendar days in the Contract Quarter.
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Minimum Throughput Commitment means the Lion Crude Minimum Throughput Commitment, the Products Minimum Throughput Commitment and the Gathering System Minimum Throughput Commitment, as applicable.
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Minimum Throughput Commitment means an aggregate amount of Materials equal to 50,000 bpd multiplied by the number of calendar days in the Contract Quarter.
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Minimum Throughput Commitment has the meaning set forth in Section 5(d).
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Minimum Throughput Commitment means the aggregate Stipulated Volume (on a Monthly average basis) in bpd as set forth for all Terminals on Schedule A attached hereto; provided however, that the Minimum Throughput Commitment during the Month in which the Commencement Date occurs shall be prorated in accordance with the ratio of the number of days including and following the Commencement Date in such Month to the total number of days in such Month. If during any Month during the Term, TRMC throughputs aggregate volumes greater than the Minimum Throughput Commitment, then TRMC shall pay TLO an amount equal to the weighted average of the amounts for each Terminal the volumes throughput by TRMC in excess of the Stipulated Volume for such Terminal multiplied by the Terminalling Service Fee paid by TRMC for that Terminal (the “Excess Amount”). If, during any Month during the Term, TRMC throughputs aggregate volumes less than the Minimum Throughput Commitment for such Month, then TRMC shall pay TLO an amount (a “Shortfall Payment”) for any shortfall. Shortfall Payments shall be equal to the weighted average of the amounts for each Terminal of the Terminalling Service Fee paid by TRMC during that Month and the monthly shortfall at that Terminal. The dollar amount of any Shortfall Payment paid by TRMC shall be posted as a credit to TRMC’s account and may be applied against any Excess Amounts owed by TRMC during any of the succeeding three (3) Months. For informational purposes only, attached as Exhibit 2 hereto is a sample calculation demonstrating the Shortfall Payment and its application. Credits will be applied in the order in which such credits accrue and any remaining portion of the credit that is not used by TRMC during the succeeding three (3) Months shall expire (e.g., a credit that accrues in January will be available in February, March and April, will expire at the end of April, and must be applied prior to applying any credit which accrues in February).
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