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.
Nassau New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions related to gas balancing in the Nassau area of New York. This agreement is a vital component of gas operations and ensures the proper distribution and balancing of gas resources. The exhibit serves as an attachment to the operating agreement, providing additional details and specifications specific to the gas balancing procedures. This document may be categorized into different types depending on the specific requirements and details mentioned within. Some potential types of Nassau New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may include: 1. Nassau Gas Balancing Procedures: This type of exhibit E outlines the step-by-step procedures and guidelines for gas balancing in the Nassau area. It includes instructions on measuring, monitoring, and adjusting gas flows to maintain an optimal balance in the system. 2. Gas Allocation Mechanisms: This type of exhibit E describes the mechanisms by which gas resources are allocated among different participants or parties involved in gas operations in Nassau. It defines the criteria, factors, and methodologies used for determining each party's gas allocation. 3. Balancing Settlements and Charges: Exhibit E also discusses the financial aspects of gas balancing. It may outline the settlement process, including the timelines, procedures, and obligations regarding payment settlements. Furthermore, it may specify any charges or penalties applicable in case of imbalances or non-compliance with the agreement. 4. Reporting and Monitoring Requirements: This type of Exhibit E defines the reporting and monitoring requirements for gas balancing activities. It may detail the frequency, formats, and necessary information to be included in the reports submitted by the parties involved. Additionally, it might specify the measures for monitoring gas flows and imbalances. 5. Dispute Resolution Mechanisms: In some cases, the Nassau New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may include provisions pertaining to dispute resolution. This section may outline the procedures for resolving disagreements between parties, including mediation, arbitration, or litigation processes. Overall, the Nassau New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a comprehensive and detailed legal document essential for the proper functioning of gas operations in the Nassau area. It ensures transparency, fairness, and adherence to established guidelines, promoting a balanced and efficient gas supply system.
