This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legally binding document that outlines the terms and conditions for gas balancing within the Kings New York area. This agreement is specifically designed for gas suppliers in the Kings New York region who require a structured process for gas balancing. The main purpose of the Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is to ensure the fair distribution and allocation of gas resources among different parties in the region. It aims to regulate and manage the fluctuations in gas supply and demand to maintain an optimal balance. The Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 comprises several key sections that are crucial for effective gas balancing. These include: 1. Definitions: This section contains a comprehensive list of terms and their meanings to ensure a clear understanding of the agreement. 2. Gas Balancing Arrangements: This section outlines the procedures and responsibilities related to gas balancing, including inputs, outputs, and calculation methodologies. 3. Allocation of Imbalances: This section specifies how imbalances in gas supply and demand will be allocated among the parties involved, taking into account factors such as capacity and nominated quantities. 4. Operational Balancing Agreements: This section addresses the establishment of operational balancing agreements, which allow parties to manage and resolve imbalances in real-time. 5. Compensation and Penalties: This section defines the compensation and penalties applicable in case of imbalances, non-compliance, or breach of the agreement. The Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may have different variations or types based on customizable provisions to cater to specific needs or regional requirements. However, the core structure and key sections mentioned above are generally applicable. It is essential for gas suppliers operating in the Kings New York area to carefully review and understand the terms outlined in this agreement to ensure compliance with the gas balancing procedures. Adherence to this agreement helps maintain a fair and efficient gas supply system, benefiting all parties involved.Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legally binding document that outlines the terms and conditions for gas balancing within the Kings New York area. This agreement is specifically designed for gas suppliers in the Kings New York region who require a structured process for gas balancing. The main purpose of the Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is to ensure the fair distribution and allocation of gas resources among different parties in the region. It aims to regulate and manage the fluctuations in gas supply and demand to maintain an optimal balance. The Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 comprises several key sections that are crucial for effective gas balancing. These include: 1. Definitions: This section contains a comprehensive list of terms and their meanings to ensure a clear understanding of the agreement. 2. Gas Balancing Arrangements: This section outlines the procedures and responsibilities related to gas balancing, including inputs, outputs, and calculation methodologies. 3. Allocation of Imbalances: This section specifies how imbalances in gas supply and demand will be allocated among the parties involved, taking into account factors such as capacity and nominated quantities. 4. Operational Balancing Agreements: This section addresses the establishment of operational balancing agreements, which allow parties to manage and resolve imbalances in real-time. 5. Compensation and Penalties: This section defines the compensation and penalties applicable in case of imbalances, non-compliance, or breach of the agreement. The Kings New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may have different variations or types based on customizable provisions to cater to specific needs or regional requirements. However, the core structure and key sections mentioned above are generally applicable. It is essential for gas suppliers operating in the Kings New York area to carefully review and understand the terms outlined in this agreement to ensure compliance with the gas balancing procedures. Adherence to this agreement helps maintain a fair and efficient gas supply system, benefiting all parties involved.
