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.
New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document used in the energy industry to define the terms and conditions for gas balancing operations within the state of New York. This agreement is essential for ensuring the efficient and reliable flow of natural gas across various gas facilities and pipelines. The New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 covers several key areas, including gas balancing procedures, responsibilities of involved parties, and dispute resolution mechanisms. It plays a crucial role in maintaining the integrity of gas transportation systems and ensuring compliance with regulatory requirements. Some relevant keywords associated with New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 include: 1. Gas Balancing: This refers to the process of managing and equalizing the supply and demand of natural gas across pipelines and facilities. Gas balancing is necessary to ensure a steady flow and avoid imbalances that can impact system operations. 2. Operating Agreement: An operating agreement is a legal contract that outlines the responsibilities and obligations of parties involved in the operation of a business or industry sector. In the context of gas balancing, the operating agreement defines the roles and duties of each participant. 3. Gas Facilities and Pipelines: Gas facilities and pipelines are the infrastructure used to transport natural gas from production sites to end-users. These include compressor stations, storage facilities, transmission pipelines, and distribution networks. 4. Regulatory Compliance: Gas balancing agreements must adhere to regulatory guidelines and standards set by relevant authorities such as the New York State Public Service Commission (PSC). Compliance ensures safety, reliability, and fair practices within the gas industry. 5. Dispute Resolution: The agreement should include provisions for resolving conflicts or disputes that may arise during gas balancing operations. This can involve arbitration, mediation, or other legal processes to reach a mutually acceptable resolution. Different types of New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may exist based on specific requirements or unique terms negotiated between parties involved. These variations could include modified gas balancing procedures, additional provisions for specific gas facilities, or tailor-made dispute resolution mechanisms. In conclusion, the New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a comprehensive legal instrument that establishes the rules and guidelines for gas balancing operations in New York. It ensures the smooth functioning of gas infrastructure, promotes fair practices, and facilitates collaboration among parties involved in the gas industry.
