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.
Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that pertains to gas balancing agreements within the Middlesex County area of Massachusetts. This agreement is typically used by parties involved in gas production, transportation, or distribution within Middlesex County. The Exhibit E section of the operating agreement outlines the terms and conditions specifically related to gas balancing. Gas balancing refers to the process of ensuring that the amount of gas received and delivered by each party remains balanced, preventing imbalances within the system. The Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 typically includes the following key elements: 1. Gas Delivery Point: This section identifies the specific location where the gas is delivered by the producing party to the receiving party. It details the geography and technical specifications of the delivery point. 2. Gas Measurement and Accounting: This section defines the methods and instruments used to accurately measure and account for the gas quantities delivered and received. It may include details about metering stations, measurement units, and conversion factors. 3. Balancing Tolerance: This section establishes the acceptable range or tolerance within which the gas quantities should be balanced. It specifies the maximum allowable imbalances or discrepancies between the delivered and received gas volumes. 4. Imbalance Charges and Reconciliation: This section outlines the procedures and mechanisms for resolving any imbalances beyond the acceptable tolerance. It may include provisions for financial penalties, offsetting imbalances in future periods, or other methods for reconciling the differences. 5. Reporting and Documentation: This section requires the parties to maintain accurate records and submit regular reports related to gas balancing activities. It may specify the frequency and format of reporting, as well as any specific documents required for audit or verification purposes. It's important to note that the specific details and provisions of the Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may vary depending on the parties involved and their specific requirements. Therefore, it's crucial to refer to the specific version and edition of the form in question. Note: It appears there are no different types of Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 mentioned.Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that pertains to gas balancing agreements within the Middlesex County area of Massachusetts. This agreement is typically used by parties involved in gas production, transportation, or distribution within Middlesex County. The Exhibit E section of the operating agreement outlines the terms and conditions specifically related to gas balancing. Gas balancing refers to the process of ensuring that the amount of gas received and delivered by each party remains balanced, preventing imbalances within the system. The Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 typically includes the following key elements: 1. Gas Delivery Point: This section identifies the specific location where the gas is delivered by the producing party to the receiving party. It details the geography and technical specifications of the delivery point. 2. Gas Measurement and Accounting: This section defines the methods and instruments used to accurately measure and account for the gas quantities delivered and received. It may include details about metering stations, measurement units, and conversion factors. 3. Balancing Tolerance: This section establishes the acceptable range or tolerance within which the gas quantities should be balanced. It specifies the maximum allowable imbalances or discrepancies between the delivered and received gas volumes. 4. Imbalance Charges and Reconciliation: This section outlines the procedures and mechanisms for resolving any imbalances beyond the acceptable tolerance. It may include provisions for financial penalties, offsetting imbalances in future periods, or other methods for reconciling the differences. 5. Reporting and Documentation: This section requires the parties to maintain accurate records and submit regular reports related to gas balancing activities. It may specify the frequency and format of reporting, as well as any specific documents required for audit or verification purposes. It's important to note that the specific details and provisions of the Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may vary depending on the parties involved and their specific requirements. Therefore, it's crucial to refer to the specific version and edition of the form in question. Note: It appears there are no different types of Middlesex Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 mentioned.
