This operating agreement exhibit takes effect if any party takes and disposes of less than its percentage interest share of gas (including casinghead gas) produced and saved during any calendar month. The volume not taken by that party may be taken by any other party or parties.
Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the specific terms and conditions related to gas balancing agreements within the state of Florida. This agreement is typically used in the oil and gas industry for managing the distribution of natural gas and ensuring a fair and equitable balance between gas suppliers and consumers. In this particular form, Exhibit E refers to a specific section within the operating agreement that focuses on gas balancing. It outlines the procedures, responsibilities, and guidelines that both parties involved in the agreement must follow in order to maintain a proper balance of gas supply and demand. Some key elements covered in Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 include: 1. Gas Balancing Procedures: This section details the specific steps and processes for monitoring and managing the balance between gas supply and demand. It may include provisions for regular gas inventory audits, measurement techniques, and communication protocols between the parties. 2. Allocation of Gas: This part of the agreement addresses the allocation of available gas supply among the participating parties. It may specify how the gas will be allocated based on predetermined factors such as contract volumes, market demand, or historical usage. 3. Imbalances and Penalties: Exhibit E also outlines the consequences for imbalances in gas supply and demand. It may establish penalty fees or charges for parties that fail to comply with the agreed-upon balance requirements. These penalties are usually designed to incentivize adherence to the agreement and encourage proper gas management. 4. Dispute Resolution: In the event of conflicts or disputes arising from gas balancing, the agreement may include a section dedicated to dispute resolution procedures. This could involve mediation, arbitration, or other methods to reach a resolution between the parties involved. It is important to note that Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may have variations or specific modifications depending on the nature and complexity of the gas balancing agreement. Different types of Exhibit E forms may exist to address specific aspects such as gas imbalances, billing procedures, or unique requirements defined by the contracting parties. In conclusion, Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 serves as a vital contractual tool in the gas industry, facilitating the fair distribution and management of gas supply and demand. This agreement is crucial for establishing a clear framework and promoting efficient operations in the Florida gas market.Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the specific terms and conditions related to gas balancing agreements within the state of Florida. This agreement is typically used in the oil and gas industry for managing the distribution of natural gas and ensuring a fair and equitable balance between gas suppliers and consumers. In this particular form, Exhibit E refers to a specific section within the operating agreement that focuses on gas balancing. It outlines the procedures, responsibilities, and guidelines that both parties involved in the agreement must follow in order to maintain a proper balance of gas supply and demand. Some key elements covered in Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 include: 1. Gas Balancing Procedures: This section details the specific steps and processes for monitoring and managing the balance between gas supply and demand. It may include provisions for regular gas inventory audits, measurement techniques, and communication protocols between the parties. 2. Allocation of Gas: This part of the agreement addresses the allocation of available gas supply among the participating parties. It may specify how the gas will be allocated based on predetermined factors such as contract volumes, market demand, or historical usage. 3. Imbalances and Penalties: Exhibit E also outlines the consequences for imbalances in gas supply and demand. It may establish penalty fees or charges for parties that fail to comply with the agreed-upon balance requirements. These penalties are usually designed to incentivize adherence to the agreement and encourage proper gas management. 4. Dispute Resolution: In the event of conflicts or disputes arising from gas balancing, the agreement may include a section dedicated to dispute resolution procedures. This could involve mediation, arbitration, or other methods to reach a resolution between the parties involved. It is important to note that Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may have variations or specific modifications depending on the nature and complexity of the gas balancing agreement. Different types of Exhibit E forms may exist to address specific aspects such as gas imbalances, billing procedures, or unique requirements defined by the contracting parties. In conclusion, Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 serves as a vital contractual tool in the gas industry, facilitating the fair distribution and management of gas supply and demand. This agreement is crucial for establishing a clear framework and promoting efficient operations in the Florida gas market.
