Kentucky Take Or Pay Gas Contracts

State:
Multi-State
Control #:
US-OG-832
Format:
Word; 
Rich Text
Instant download

Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

How to fill out Take Or Pay Gas Contracts?

US Legal Forms - among the largest libraries of lawful varieties in America - provides an array of lawful document layouts it is possible to download or print. Making use of the internet site, you will get 1000s of varieties for organization and personal uses, sorted by classes, says, or keywords and phrases.You can get the most up-to-date models of varieties such as the Kentucky Take Or Pay Gas Contracts in seconds.

If you have a membership, log in and download Kentucky Take Or Pay Gas Contracts from your US Legal Forms library. The Acquire button will show up on each and every kind you look at. You have accessibility to all previously delivered electronically varieties within the My Forms tab of your own accounts.

If you wish to use US Legal Forms the first time, allow me to share straightforward instructions to help you get began:

  • Be sure to have picked the best kind for the town/region. Click the Preview button to review the form`s content material. Look at the kind information to actually have chosen the right kind.
  • In the event the kind doesn`t satisfy your requirements, make use of the Look for industry on top of the display screen to get the the one that does.
  • When you are happy with the form, affirm your selection by clicking on the Get now button. Then, choose the pricing prepare you want and give your accreditations to sign up to have an accounts.
  • Process the deal. Make use of your Visa or Mastercard or PayPal accounts to complete the deal.
  • Choose the file format and download the form on your own device.
  • Make changes. Load, edit and print and indication the delivered electronically Kentucky Take Or Pay Gas Contracts.

Each template you included in your account lacks an expiry day and is also your own forever. So, if you would like download or print another version, just check out the My Forms segment and then click in the kind you require.

Gain access to the Kentucky Take Or Pay Gas Contracts with US Legal Forms, the most extensive library of lawful document layouts. Use 1000s of specialist and express-certain layouts that meet up with your organization or personal requires and requirements.

Form popularity

FAQ

Under a take-or-pay contract, the buyer is not in breach if it fails to take the minimum quantity because the obligation is structured in the alternative and can be satisfied by the buyer either taking the commodity or making the agreed payment (often referred to as the take-or-pay payment).

Outside the oil and gas context, "take or pay" contract terms are often rejected by courts as unenforceable penalties. Courts look at these as "liquidated damages" clauses that must be based on a reasonable approximation of the actual damage that a party would suffer due to the other party's breach.

Reference Definition by Gas Strategies: Make Up Gas is the gas for which a buyer has paid under Take or Pay obligations but not taken, and may have rights to receive in subsequent years for no further charge or at reduced prices after it has taken gas in excess of an agreed threshold volume.

orpay provision obligating the buyer in a sale of goods contract to either buy and take delivery of a minimum quantity of goods or to pay the seller for any shortfall. This Standard Clause has integrated drafting notes with important explanations and drafting and negotiating tips.

For any product the company takes, they agree to pay the supplier a certain price, say $50 per ton. Furthermore, up to an agreed-upon ceiling, the company is required to pay the supplier even for products they do not take. This "penalty" price is lower, say $40 a ton.

A contract used in the oil & gas industry that obligates the buyer to take an agreed minimum quantity of gas at a set contract price over a given period of time or to pay an agreed-on amount if the minimum gas quantity is not taken.

orpay provision obligating the buyer in a sale of goods contract to either buy and take delivery of a minimum quantity of goods or to pay the seller for any shortfall.

Trusted and secure by over 3 million people of the world’s leading companies

Kentucky Take Or Pay Gas Contracts