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.
Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the gas balancing agreement between parties involved in gas production, transportation, and distribution in the state of Indiana. This agreement is specifically designed to address the balancing of gas volumes across various facilities and jurisdictions within the state. The purpose of Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is to ensure the efficient management and allocation of gas resources, as well as the fair distribution of costs associated with gas balancing activities. It serves as a framework for the parties involved to establish their rights, obligations, and responsibilities in maintaining the balance of gas supply and demand throughout Indiana. The key terms and provisions that can be found in Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 include: 1. Definitions: This section provides a clear understanding of the relevant terminology used in the agreement, ensuring all parties are on the same page regarding gas balancing concepts, procedures, and calculations. 2. Gas Balancing Principles: This section outlines the principles and methods for determining gas imbalances, including the measurement, allocation, and reconciliation of imbalances between the parties involved. It establishes the procedures for tracking, reporting, and settling gas imbalances. 3. Gas Balancing Services: This section specifies the services provided by the balancing party, such as metering, data management, inventory management, and any additional services necessary for maintaining gas balance. 4. Balancing Fees and Settlements: This section details the fees, penalties, and charges associated with gas imbalances and the methods for calculating and settling these financial obligations between the parties. 5. Dispute Resolution: This section clarifies the procedures for resolving disputes that may arise between the parties regarding gas balancing activities, including negotiation, mediation, and arbitration processes. While Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 serves as a comprehensive template, there may be variations or customized versions of the agreement specific to individual gas companies or regions within Indiana. These variations may address different gas balancing techniques, reporting requirements, or specific conditions that are unique to certain gas fields or facilities. It is important for parties entering into gas balancing agreements in Indiana to carefully review and understand the terms and provisions in Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2, as well as any additional modifications or addendums to ensure compliance with applicable laws and regulations governing gas operations in the state.Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the gas balancing agreement between parties involved in gas production, transportation, and distribution in the state of Indiana. This agreement is specifically designed to address the balancing of gas volumes across various facilities and jurisdictions within the state. The purpose of Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is to ensure the efficient management and allocation of gas resources, as well as the fair distribution of costs associated with gas balancing activities. It serves as a framework for the parties involved to establish their rights, obligations, and responsibilities in maintaining the balance of gas supply and demand throughout Indiana. The key terms and provisions that can be found in Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 include: 1. Definitions: This section provides a clear understanding of the relevant terminology used in the agreement, ensuring all parties are on the same page regarding gas balancing concepts, procedures, and calculations. 2. Gas Balancing Principles: This section outlines the principles and methods for determining gas imbalances, including the measurement, allocation, and reconciliation of imbalances between the parties involved. It establishes the procedures for tracking, reporting, and settling gas imbalances. 3. Gas Balancing Services: This section specifies the services provided by the balancing party, such as metering, data management, inventory management, and any additional services necessary for maintaining gas balance. 4. Balancing Fees and Settlements: This section details the fees, penalties, and charges associated with gas imbalances and the methods for calculating and settling these financial obligations between the parties. 5. Dispute Resolution: This section clarifies the procedures for resolving disputes that may arise between the parties regarding gas balancing activities, including negotiation, mediation, and arbitration processes. While Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 serves as a comprehensive template, there may be variations or customized versions of the agreement specific to individual gas companies or regions within Indiana. These variations may address different gas balancing techniques, reporting requirements, or specific conditions that are unique to certain gas fields or facilities. It is important for parties entering into gas balancing agreements in Indiana to carefully review and understand the terms and provisions in Indiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2, as well as any additional modifications or addendums to ensure compliance with applicable laws and regulations governing gas operations in the state.
