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.
The Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a vital document that plays a significant role in ensuring efficient and fair gas balancing operations within the state of Illinois. This detailed description will provide an overview of the purpose, contents, and different types of Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, using relevant keywords. Purpose: The Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is designed to establish a framework for gas balancing arrangements between gas suppliers, pipeline operators, and end-users within Illinois. It aims to maintain a steady and reliable supply of natural gas while adhering to regulatory guidelines and ensuring fairness among all parties involved. Contents: 1. Introduction: This section provides a brief overview of the agreement and provides necessary details regarding the participants, effective date, and term of the agreement. 2. Definitions: To avoid any confusion or discrepancies, this section defines relevant terms and phrases used throughout the agreement. It ensures a common understanding among all parties involved. 3. Gas Balancing Mechanism: This section outlines the procedures and rules related to gas balancing operations. It includes provisions for monitoring and recording gas flows, imbalances, and penalties for non-compliance. 4. Measurement and Reporting: This section details the measurement methods, units, and equipment to be used for accurate gas measurement. It also highlights reporting requirements and timelines for submitting gas balancing data. 5. Imbalance Resolution: This section specifies how imbalances will be resolved between suppliers and end-users. It includes provisions for making adjustments, settlements, and financial responsibilities for any significant deviations from agreed-upon contracts. 6. Dispute Resolution: In the event of disputes or conflicts arising from gas balancing operations, this section provides a framework for resolving such issues through negotiation, mediation, or arbitration. Different types: While the Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 generally serves as a standardized template, there may be slight variations or specific adaptations based on the parties involved or unique circumstances. Some variations may include: 1. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Residential Consumers: This version of the agreement is tailored towards gas suppliers and end-users serving residential customers in Illinois. It may include provisions specific to residential gas consumption patterns and billing arrangements. 2. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Industrial Consumers: This version is specifically designed for gas suppliers and end-users serving industrial consumers. It may contain clauses related to large-scale gas consumption, peak demands, and extensive infrastructural requirements. 3. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Interstate Pipelines: This type of agreement is intended for interstate pipelines operating in Illinois. It may include additional provisions related to cross-border gas transport, regulatory compliance, and coordination with other states' gas balancing mechanisms. In conclusion, the Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial document in maintaining smooth gas supply operations in Illinois. Its purpose, contents, and different types may vary slightly based on the specific circumstances and participants involved. However, its overall objective remains the same — promoting efficient gas balancing while ensuring fairness and compliance within the state.The Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a vital document that plays a significant role in ensuring efficient and fair gas balancing operations within the state of Illinois. This detailed description will provide an overview of the purpose, contents, and different types of Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, using relevant keywords. Purpose: The Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is designed to establish a framework for gas balancing arrangements between gas suppliers, pipeline operators, and end-users within Illinois. It aims to maintain a steady and reliable supply of natural gas while adhering to regulatory guidelines and ensuring fairness among all parties involved. Contents: 1. Introduction: This section provides a brief overview of the agreement and provides necessary details regarding the participants, effective date, and term of the agreement. 2. Definitions: To avoid any confusion or discrepancies, this section defines relevant terms and phrases used throughout the agreement. It ensures a common understanding among all parties involved. 3. Gas Balancing Mechanism: This section outlines the procedures and rules related to gas balancing operations. It includes provisions for monitoring and recording gas flows, imbalances, and penalties for non-compliance. 4. Measurement and Reporting: This section details the measurement methods, units, and equipment to be used for accurate gas measurement. It also highlights reporting requirements and timelines for submitting gas balancing data. 5. Imbalance Resolution: This section specifies how imbalances will be resolved between suppliers and end-users. It includes provisions for making adjustments, settlements, and financial responsibilities for any significant deviations from agreed-upon contracts. 6. Dispute Resolution: In the event of disputes or conflicts arising from gas balancing operations, this section provides a framework for resolving such issues through negotiation, mediation, or arbitration. Different types: While the Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 generally serves as a standardized template, there may be slight variations or specific adaptations based on the parties involved or unique circumstances. Some variations may include: 1. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Residential Consumers: This version of the agreement is tailored towards gas suppliers and end-users serving residential customers in Illinois. It may include provisions specific to residential gas consumption patterns and billing arrangements. 2. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Industrial Consumers: This version is specifically designed for gas suppliers and end-users serving industrial consumers. It may contain clauses related to large-scale gas consumption, peak demands, and extensive infrastructural requirements. 3. Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 for Interstate Pipelines: This type of agreement is intended for interstate pipelines operating in Illinois. It may include additional provisions related to cross-border gas transport, regulatory compliance, and coordination with other states' gas balancing mechanisms. In conclusion, the Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial document in maintaining smooth gas supply operations in Illinois. Its purpose, contents, and different types may vary slightly based on the specific circumstances and participants involved. However, its overall objective remains the same — promoting efficient gas balancing while ensuring fairness and compliance within the state.
