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.
Massachusetts Exhibit E to Operating Agreement Gas Balancing Agreement - Form 4
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Multi-State
Control #:
US-OG-748
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Word;
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How to fill out Exhibit E To Operating Agreement Gas Balancing Agreement - Form 4?
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FAQ
The JOA allows the newspapers jointly to set (monopo- lize) advertising and circulation prices. Editorial functions remain inde- pendently controlled by the two parties to the JOA.
A JOA is a way for co-venturers to apportion liability in ance with their agreed participating interest. Under a JOA, the parties: Appoint an operator to manage operations and dealings with the host state and other third parties on behalf of the consortium.
The operator is the one who is responsible for the day-to-day management and operation of the field. It is usually a single party with the highest interest in the agreement. But it is not uncommon to have a designated operator who is a minority to the agreement.
The JOA serves several purposes, including identifying the property interests of the parties in the mineral lease, designating the party that is to act as operator, and setting forth the method for sharing expenses and for the allocation of liability for the oil and gas exploration and production operations.
In the health care industry, hospitals may form a JOA to provide a stronger financial structure. The JOA, also known in this industry as a virtual merger, allows the hospitals to retain separate boards of directors but turns over management to a separate company.
Joint Operating Agreements ("JOAs") are often used in capital-intensive resource industries by parties who wish to re- strict their exposure, particularly in limiting costs or liability.
A joint operating agreement is a contract that sets forth the duties and obligations of both the operator and nonoperating working interest owners of a mineral lease.
The Joint Operating Agreement (JOA) in oil and gas industry is an underlying contractual framework of a Joint Venture (JV). The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons.
Joint operating agreements are contractual agreements between one party identified as the operator and at least one other party known as a non-operator which requires the operator to drill the initial obligatory well, and the non-operator to pay its proportionate share of the operating expenses.
A joint operating agreement is a legal document that outlines the relationship between two or more businesses who jointly operate a business. When one company partners with another, they are typically signing this type of contract to ensure their business interests are protected.