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.
Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document specific to the state of Minnesota that outlines the terms and conditions of gas balancing agreements between parties involved in the gas industry. This exhibit serves as an additional attachment to the operating agreement, offering detailed provisions related to gas balancing in the state. Gas balancing agreements are crucial in ensuring the equitable distribution of gas supplies among the contracting parties. This exhibit provides a comprehensive framework for gas balancing, addressing various aspects such as measurement, allocation, penalties, operational responsibilities, and dispute resolution. Keywords: 1. Minnesota: This exhibit is specific to the laws and regulations of the state of Minnesota, ensuring compliance with state-specific requirements. 2. Exhibit E: The letter "E" indicates that this is the fifth exhibit attached to the primary operating agreement document. It signifies the importance and relevance of gas balancing provisions. 3. Operating Agreement: The gas balancing agreement is an additional component of the operating agreement, which is a comprehensive legal document outlining the terms and conditions between the parties involved in a gas project. 4. Gas Balancing Agreement: This agreement aims to ensure the equitable distribution and allocation of gas supplies among the contracting parties. It establishes a framework for measuring, allocating, and balancing gas volumes based on agreed-upon terms. 5. Form 4: The reference to "Form 4" indicates that this exhibit follows a specific format or template established by the state of Minnesota for gas balancing agreements. Types of Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4: There may not be different types of Exhibit E specifically, as it represents a standard exhibit used in gas balancing agreements in Minnesota. However, various versions or revisions of the exhibit may exist over time to accommodate changes in laws, regulations, or industry practices, ensuring alignment with the evolving gas industry standards in the state.
