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.
New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions regarding gas balancing in the state of New York. This agreement is an essential component of gas operations and ensures the efficient management of gas supply and demand in the region. Below, we will discuss the key aspects of this agreement, along with different types that may exist. The New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 establishes the rights and obligations of the parties involved in gas balancing activities within the state. It encompasses various terms related to gas balancing, including allocation, measurement, penalties, and dispute resolution procedures. Gas balancing refers to the process of managing and adjusting gas flows to maintain a balance between gas supply and demand. It involves monitoring gas quantities delivered by producers and consumed by end-users, identifying discrepancies, and taking corrective actions to ensure an equilibrium is maintained. In addition to the general provisions related to gas balancing, there may be different types of New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 based on specific circumstances. These types may include: 1. Intercompany Gas Balancing Agreement: This type of agreement is utilized when multiple entities or subsidiaries within the same parent company are involved in gas balancing activities. It outlines the mutual obligations and responsibilities of these entities regarding gas balancing within the state. 2. Gas Balancing Agreement with External Parties: In some cases, gas balancing agreements may be required between different companies or entities operating in the gas industry. This variant of Exhibit E establishes the terms of cooperation, allocation, and measurement between the parties involved, ensuring a fair and reliable gas balancing process. 3. Seasonal Gas Balancing Agreement: Gas consumption patterns often vary between different seasons. A seasonal gas balancing agreement specifies the gas balancing requirements and procedures during specific times of the year, taking into consideration the potential fluctuations in demand and supply. 4. Emergency Gas Balancing Agreement: During unforeseen circumstances such as natural disasters or extreme weather events, gas supply and demand may face significant disruptions. An emergency gas balancing agreement addresses the unique challenges posed during such situations, providing guidelines and mechanisms to manage gas flows and maintain stability. The New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial legal framework for the effective management of gas balancing in New York. It ensures transparency, accuracy, and fairness in gas allocation, measurement, and dispute resolution processes. Different types of this agreement may exist to cater to specific scenarios, such as intercompany arrangements, agreements with external parties, seasonal fluctuations, or emergency situations.
