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.
Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document specific to gas industry operations in the state of Florida. This exhibit is an essential part of an operating agreement that governs the gas balancing process. It outlines the terms and conditions for balancing gas supplies and demands in order to maintain a stable and efficient gas delivery system in Florida. The Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 consists of various sections and provisions. Here are some relevant keywords and types of contents that may be found within this document: 1. Purpose: This section provides a detailed explanation of the purpose and objectives of the gas balancing agreement. It outlines the need for a balanced gas supply system to meet consumer demands and avoid disruptions. 2. Definitions: This part defines specific terms used throughout the agreement, ensuring clarity and consistency in understanding. Keywords that may be included are "balancing party," "imbalance," "Authorized Transportation and Exchange Service Provider (AT ESP)," and "penalties." 3. Responsibilities: This section outlines the responsibilities and obligations of each party involved in the gas balancing agreement. It may describe the duties of the pipeline operator, the AT ESP, and other entities responsible for gas delivery and balancing. 4. Imbalance Management: This part details the process of managing gas imbalances and resolving any discrepancies between gas supplies and demands. It may include procedures for reporting imbalances, determining penalties for imbalances, and the timeline for resolving them. 5. Penalties and Charges: This section specifies the penalties or charges that may be imposed for failing to meet gas balancing obligations. It may detail the calculation methods and amount of penalties, ensuring fairness and accountability. 6. Dispute Resolution: This clause explains the mechanisms for resolving disputes arising from the gas balancing agreement. It may outline the steps involved in the dispute resolution process, such as mediation or arbitration, to ensure efficient conflict resolution. 7. Term and Termination: This section identifies the duration of the gas balancing agreement, as well as the conditions for termination. It may specify circumstances that allow either party to terminate the agreement, such as breach of obligations or non-payment of penalties. 8. Governing Law: This clause specifies the applicable laws and jurisdiction governing the gas balancing agreement. It ensures that the agreement is compliant with Florida state laws and regulations. It is important to note that the specific content and structure of the Florida Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may vary depending on the parties involved and the gas industry regulations applicable in Florida.
