This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
The District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a document that specifically pertains to gas balancing agreements within the District of Columbia. This agreement is an important component of gas operations within the region. Gas balancing agreements are crucial for maintaining a stable and reliable gas supply system. They outline the procedures, responsibilities, and terms for balancing the supply and demand of natural gas in the District of Columbia. This agreement helps to ensure that gas distribution companies effectively balance the gas flow to meet customers' needs and address any discrepancies between supply and demand. There can be different types of District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2, depending on the specific gas distribution companies involved or any unique requirements within the District of Columbia. These variations may come about due to differences in infrastructure, gas transmission capacities, or even contractual obligations between parties. The form typically includes detailed information about the gas balancing process, such as: 1. Identification of Parties: This section lists all the parties involved in the agreement, including the gas supplier, gas distributors, and any other stakeholders relevant to gas balancing operations. 2. Purpose and Scope: This section outlines the overall objective and scope of the gas balancing agreement. It details how the parties will collaboratively manage gas supply, imbalance, and allocation within the District of Columbia. 3. Gas Balancing Mechanism: This section describes the methodology used for gas balancing, including the calculation of imbalances, allocation percentages, and any penalties for deviations from agreed-upon gas volumes. 4. Communication and Reporting: This section covers the frequency, format, and procedures for reporting gas flow information, such as daily or hourly gas usage, imbalances, and any required notifications between parties. 5. Dispute Resolution: This section defines the steps to be taken in case of any disputes or disagreements between the parties. It may specify the use of mediation, arbitration, or other means of conflict resolution. 6. Amendments and Termination: This section explains how the gas balancing agreement can be modified or terminated, including any notice period required by either party. It is important to note that the exact content and structure of District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may vary depending on the specific circumstances and regulations applicable to the area.
