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.
Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions related to gas balancing agreements in the state of Massachusetts. It is an essential part of the operating agreement between parties involved in the gas industry. This agreement helps ensure the efficient and equitable allocation of natural gas resources. The Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 contains comprehensive information regarding gas balancing procedures, rights, and responsibilities of the involved parties. It establishes the framework for systematic gas balancing operations to maintain the reliability and integrity of the gas supply infrastructure in Massachusetts. Different types of Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include provisions such as: 1. Gas Allocation: This section details how gas quantities will be allocated among the parties involved. It may cover aspects such as the determination of entitlements, metering, and methods used for measuring gas quantities. 2. Imbalances and Balancing Charges: This section outlines the procedures for addressing imbalances between delivered and withdrawn gas quantities. It describes the mechanism of balancing charges, penalties, and possible adjustments to ensure compliance with contractual obligations. 3. Data and Reporting: This section mandates the reporting and sharing of relevant data related to gas operations. It may include requirements for periodic meter readings, invoicing, tracking, and reconciling imbalances. 4. Dispute Resolution: This section establishes the process for resolving any disputes that may arise between the parties involved. It may include provisions for negotiation, mediation, or arbitration to reach a fair resolution. It is crucial to consult legal professionals and understand the specific requirements and nuances of the Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 before entering into any contractual agreements. This document serves as a crucial tool for maintaining a fair and efficient gas supply system within the state and promotes collaborative operations among industry stakeholders.Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions related to gas balancing agreements in the state of Massachusetts. It is an essential part of the operating agreement between parties involved in the gas industry. This agreement helps ensure the efficient and equitable allocation of natural gas resources. The Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 contains comprehensive information regarding gas balancing procedures, rights, and responsibilities of the involved parties. It establishes the framework for systematic gas balancing operations to maintain the reliability and integrity of the gas supply infrastructure in Massachusetts. Different types of Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include provisions such as: 1. Gas Allocation: This section details how gas quantities will be allocated among the parties involved. It may cover aspects such as the determination of entitlements, metering, and methods used for measuring gas quantities. 2. Imbalances and Balancing Charges: This section outlines the procedures for addressing imbalances between delivered and withdrawn gas quantities. It describes the mechanism of balancing charges, penalties, and possible adjustments to ensure compliance with contractual obligations. 3. Data and Reporting: This section mandates the reporting and sharing of relevant data related to gas operations. It may include requirements for periodic meter readings, invoicing, tracking, and reconciling imbalances. 4. Dispute Resolution: This section establishes the process for resolving any disputes that may arise between the parties involved. It may include provisions for negotiation, mediation, or arbitration to reach a fair resolution. It is crucial to consult legal professionals and understand the specific requirements and nuances of the Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 before entering into any contractual agreements. This document serves as a crucial tool for maintaining a fair and efficient gas supply system within the state and promotes collaborative operations among industry stakeholders.
