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.
Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions for gas balancing agreements in relation to the operating agreement. It is a crucial component of the overall agreement and helps ensure fair and efficient gas balancing practices. This particular form, Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, contains specific provisions and clauses tailored to gas balancing activities within the Cook Illinois region. It is designed to address the unique challenges and requirements of gas balancing in this specific area. The form aims to establish a comprehensive framework for gas balancing operations, including the procedures, responsibilities, and limitations for all parties involved. It helps maintain a proper balance between gas supplies and demand, ensuring a reliable and uninterrupted gas service throughout the Cook Illinois region. Some key provisions and topics covered in Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 include: 1. Gas balancing procedures: This section outlines the step-by-step process for achieving gas balance, including how gas imbalances are measured, reported, and corrected. 2. Nomination and scheduling: This part explains the procedures for submitting gas nominations and the timeline for scheduling gas deliveries or releases. 3. Imbalance charges: It details the charges or penalties that might be imposed in case of gas imbalances, providing guidelines for resolving payment disputes. 4. Regulatory compliance: This section ensures compliance with relevant laws, regulations, and industry standards in Cook Illinois. 5. Force majeure and termination: It defines the circumstances under which either party can terminate the agreement due to unforeseen events or force majeure conditions. 6. Dispute resolution: This part lays out the procedures for resolving any disputes that may arise between the parties involved, emphasizing negotiation and mediation as the preferred methods. Although there may not be different types of Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, it may undergo revisions or updates over time to reflect changes in policies, regulations, or operational requirements in the gas industry. In conclusion, Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a vital document that establishes the guidelines and procedures for gas balancing in the Cook Illinois region. It ensures fair and efficient gas allocation, benefiting both the gas suppliers and consumers in maintaining a stable and reliable gas supply.Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions for gas balancing agreements in relation to the operating agreement. It is a crucial component of the overall agreement and helps ensure fair and efficient gas balancing practices. This particular form, Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, contains specific provisions and clauses tailored to gas balancing activities within the Cook Illinois region. It is designed to address the unique challenges and requirements of gas balancing in this specific area. The form aims to establish a comprehensive framework for gas balancing operations, including the procedures, responsibilities, and limitations for all parties involved. It helps maintain a proper balance between gas supplies and demand, ensuring a reliable and uninterrupted gas service throughout the Cook Illinois region. Some key provisions and topics covered in Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 include: 1. Gas balancing procedures: This section outlines the step-by-step process for achieving gas balance, including how gas imbalances are measured, reported, and corrected. 2. Nomination and scheduling: This part explains the procedures for submitting gas nominations and the timeline for scheduling gas deliveries or releases. 3. Imbalance charges: It details the charges or penalties that might be imposed in case of gas imbalances, providing guidelines for resolving payment disputes. 4. Regulatory compliance: This section ensures compliance with relevant laws, regulations, and industry standards in Cook Illinois. 5. Force majeure and termination: It defines the circumstances under which either party can terminate the agreement due to unforeseen events or force majeure conditions. 6. Dispute resolution: This part lays out the procedures for resolving any disputes that may arise between the parties involved, emphasizing negotiation and mediation as the preferred methods. Although there may not be different types of Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, it may undergo revisions or updates over time to reflect changes in policies, regulations, or operational requirements in the gas industry. In conclusion, Cook Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a vital document that establishes the guidelines and procedures for gas balancing in the Cook Illinois region. It ensures fair and efficient gas allocation, benefiting both the gas suppliers and consumers in maintaining a stable and reliable gas supply.
