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.
Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a contractual document that outlines the specific terms and conditions related to gas balancing in the state of Wisconsin. This agreement is crucial in the natural gas industry to maintain a proper balance between gas supply and demand, ensuring seamless operations and avoiding any disruptions in the supply chain. The Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 typically includes several key components. These components may vary depending on the specific agreement, but some common elements are: 1. Purpose: This section provides a brief overview of the purpose of the agreement, which is to establish the terms and conditions for gas balancing activities within the state of Wisconsin. 2. Parties Involved: Here, the agreement identifies the parties involved in the gas balancing agreement. This includes the gas suppliers, distributors, and any other relevant stakeholders who participate in the gas balancing process. 3. Definitions: This section outlines the specific terms and phrases used throughout the agreement, ensuring clarity and consistency in understanding. 4. Gas Balancing Procedures: This section details the procedures and methodologies for gas balancing in Wisconsin. It may include provisions on measurement, allocation, reconciliation, scheduling, and penalties for non-compliance with gas balancing requirements. 5. Imbalance Charges: This section outlines the charges incurred in case of imbalances between gas purchased and consumed. It may specify the penalties for exceeding contracted volumes or failing to meet the balancing requirements. 6. Force Mature: This clause addresses unforeseen events or circumstances beyond the control of the parties that may impact the gas balancing process. It defines rights and obligations during force majeure events and how they affect the overall agreement. 7. Dispute Resolution: This section outlines the procedures for resolving any disagreements or disputes that may arise between the parties involved in the gas balancing agreement. It may include provisions for mediation, arbitration, or litigation, depending on the preferences of the involved parties. While the "Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2" is often a standard form, variations may exist based on individual contracts or industry-specific requirements. Some possible types of this exhibit could include: 1. Off take Agreement Exhibit E: This type of agreement specifically addresses gas balancing requirements related to the off-take point within the natural gas supply chain. 2. Transportation Agreement Exhibit E: This type of agreement focuses on gas balancing provisions related to transportation aspects, such as pipeline transmission or storage facilities. 3. Distribution Agreement Exhibit E: This exhibit applies to gas balancing requirements at the distribution level, which involves the final delivery of gas to end consumers or local distribution companies. In conclusion, the Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial document in ensuring proper gas balancing operations within the state. It sets forth the terms and conditions for gas balancing, including procedures, charges, and dispute resolution mechanisms. Different types of this exhibit may exist based on specific applications within the gas supply chain.Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a contractual document that outlines the specific terms and conditions related to gas balancing in the state of Wisconsin. This agreement is crucial in the natural gas industry to maintain a proper balance between gas supply and demand, ensuring seamless operations and avoiding any disruptions in the supply chain. The Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 typically includes several key components. These components may vary depending on the specific agreement, but some common elements are: 1. Purpose: This section provides a brief overview of the purpose of the agreement, which is to establish the terms and conditions for gas balancing activities within the state of Wisconsin. 2. Parties Involved: Here, the agreement identifies the parties involved in the gas balancing agreement. This includes the gas suppliers, distributors, and any other relevant stakeholders who participate in the gas balancing process. 3. Definitions: This section outlines the specific terms and phrases used throughout the agreement, ensuring clarity and consistency in understanding. 4. Gas Balancing Procedures: This section details the procedures and methodologies for gas balancing in Wisconsin. It may include provisions on measurement, allocation, reconciliation, scheduling, and penalties for non-compliance with gas balancing requirements. 5. Imbalance Charges: This section outlines the charges incurred in case of imbalances between gas purchased and consumed. It may specify the penalties for exceeding contracted volumes or failing to meet the balancing requirements. 6. Force Mature: This clause addresses unforeseen events or circumstances beyond the control of the parties that may impact the gas balancing process. It defines rights and obligations during force majeure events and how they affect the overall agreement. 7. Dispute Resolution: This section outlines the procedures for resolving any disagreements or disputes that may arise between the parties involved in the gas balancing agreement. It may include provisions for mediation, arbitration, or litigation, depending on the preferences of the involved parties. While the "Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2" is often a standard form, variations may exist based on individual contracts or industry-specific requirements. Some possible types of this exhibit could include: 1. Off take Agreement Exhibit E: This type of agreement specifically addresses gas balancing requirements related to the off-take point within the natural gas supply chain. 2. Transportation Agreement Exhibit E: This type of agreement focuses on gas balancing provisions related to transportation aspects, such as pipeline transmission or storage facilities. 3. Distribution Agreement Exhibit E: This exhibit applies to gas balancing requirements at the distribution level, which involves the final delivery of gas to end consumers or local distribution companies. In conclusion, the Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial document in ensuring proper gas balancing operations within the state. It sets forth the terms and conditions for gas balancing, including procedures, charges, and dispute resolution mechanisms. Different types of this exhibit may exist based on specific applications within the gas supply chain.
