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.
Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document used in the energy industry to establish the terms and conditions for gas balancing agreements. This agreement is specific to the Montgomery County in Maryland, United States. Gas balancing agreements are crucial in ensuring the proper functioning and allocation of natural gas supplies in a given area. These agreements facilitate the balancing of gas flows, maintenance of pressure levels, and coordination of gas purchases and sales between different parties involved in the gas distribution network. There may be different variations or types of Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1, tailored to specific circumstances or parties involved. However, the details of any specific variations or types are not explicitly mentioned in the given statement. The agreement typically covers essential elements such as: 1. Purpose: Clearly defining the purpose of the gas balancing agreement, which usually includes maintaining system reliability, managing imbalances, and ensuring fair treatment of all parties. 2. Definitions: Providing a comprehensive list of terms and their definitions to ensure mutual understanding. 3. Parties Involved: Identifying the parties to the agreement, which may include gas suppliers, transmission system operators, distribution companies, and end-users. 4. Scope: Describing the geographical area and the specific gas distribution network covered by the agreement, in this case, Montgomery County, Maryland. 5. Responsibilities: Outlining the responsibilities and obligations of each party involved in maintaining a balanced gas supply, including monitoring and reporting gas imbalances, gas nominations and scheduling, and gas quality requirements. 6. Operational Procedures: Defining procedures for gas supply nominations and scheduling, allocation of gas quantities, gas quality monitoring, operational data exchange, and dispute resolutions. 7. Billing and Settlements: Establishing mechanisms for billing and settling payment obligations related to gas imbalances between parties involved. 8. Duration and Termination: Specifying the agreement's duration, renewal or termination conditions, and the process for amending the agreement if necessary. It is important to consult the specific Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 to understand its unique provisions and requirements. This document should be drafted and reviewed by legal professionals familiar with the energy industry and the applicable laws and regulations in Montgomery County, Maryland.Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document used in the energy industry to establish the terms and conditions for gas balancing agreements. This agreement is specific to the Montgomery County in Maryland, United States. Gas balancing agreements are crucial in ensuring the proper functioning and allocation of natural gas supplies in a given area. These agreements facilitate the balancing of gas flows, maintenance of pressure levels, and coordination of gas purchases and sales between different parties involved in the gas distribution network. There may be different variations or types of Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1, tailored to specific circumstances or parties involved. However, the details of any specific variations or types are not explicitly mentioned in the given statement. The agreement typically covers essential elements such as: 1. Purpose: Clearly defining the purpose of the gas balancing agreement, which usually includes maintaining system reliability, managing imbalances, and ensuring fair treatment of all parties. 2. Definitions: Providing a comprehensive list of terms and their definitions to ensure mutual understanding. 3. Parties Involved: Identifying the parties to the agreement, which may include gas suppliers, transmission system operators, distribution companies, and end-users. 4. Scope: Describing the geographical area and the specific gas distribution network covered by the agreement, in this case, Montgomery County, Maryland. 5. Responsibilities: Outlining the responsibilities and obligations of each party involved in maintaining a balanced gas supply, including monitoring and reporting gas imbalances, gas nominations and scheduling, and gas quality requirements. 6. Operational Procedures: Defining procedures for gas supply nominations and scheduling, allocation of gas quantities, gas quality monitoring, operational data exchange, and dispute resolutions. 7. Billing and Settlements: Establishing mechanisms for billing and settling payment obligations related to gas imbalances between parties involved. 8. Duration and Termination: Specifying the agreement's duration, renewal or termination conditions, and the process for amending the agreement if necessary. It is important to consult the specific Montgomery Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 to understand its unique provisions and requirements. This document should be drafted and reviewed by legal professionals familiar with the energy industry and the applicable laws and regulations in Montgomery County, Maryland.
