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.
Alameda California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that plays a crucial role in governing the gas balancing activities within Alameda, California. It outlines the guidelines and procedures for managing and maintaining gas balance in accordance with the operating agreement between relevant parties. This agreement ensures that gas operations and distribution in Alameda are carried out effectively and efficiently, minimizing any discrepancies or imbalances in the gas supply. It serves as a comprehensive reference for all stakeholders involved, including gas suppliers, distributors, and regulatory authorities. The primary purpose of Alameda California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is to provide clarity and transparency regarding the balancing of gas supply and demand. This includes the measurement, accounting, and settlement processes involved in gas balancing activities within Alameda. Some key provisions and areas covered by this agreement may include: 1. Measurement and Reporting: This section defines the methods and equipment used for measuring gas quantities, as well as the reporting requirements for gas balancing. It may specify the use of electronic measurement devices or manual measurement techniques, depending on the specific circumstances. 2. Balancing Tolerance: This agreement typically establishes a defined tolerance level for imbalances between gas supply and demand. It outlines the procedures for correcting imbalances, including any penalties or fees that may be incurred if the tolerance levels are exceeded. 3. Gas Balancing Procedures: This section lays out the step-by-step procedures for managing gas imbalances. It may include provisions for adjusting gas flows, scheduling gas injections or withdrawals, and communicating imbalance correction plans amongst parties involved. 4. Imbalance Settlement: This agreement describes the process for settling imbalances between the gas supplier and the distributor. It outlines the calculation methods for determining the financial consequences of imbalances and establishes the frequency of settlement periods. 5. Dispute Resolution: In the event of disputes or disagreements arising from gas balancing activities, this agreement may include provisions for mediation, arbitration, or other applicable means of resolving conflicts. It's important to note that the specific variations or modifications of Alameda California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may exist to cater to different gas balancing scenarios within Alameda. These variations could include specific provisions related to transportation of gas, storage facilities, or any unique aspects that differentiate one gas balancing agreement from another. Overall, Alameda California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 serves as a crucial legal document that ensures the efficient operation and management of gas supply and demand in Alameda, California, while providing a clear framework for resolving any imbalances that may arise.
