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.
Oklahoma Take Or Pay Gas Contracts
Category:
State:
Multi-State
Control #:
US-OG-832
Format:
Word;
Rich Text
Instant download
Description
How to fill out Take Or Pay Gas Contracts?
You may devote several hours online looking for the legitimate papers template that fits the federal and state needs you need. US Legal Forms provides thousands of legitimate varieties which can be evaluated by pros. It is possible to download or printing the Oklahoma Take Or Pay Gas Contracts from my assistance.
If you have a US Legal Forms profile, you can log in and then click the Acquire switch. Afterward, you can total, edit, printing, or indication the Oklahoma Take Or Pay Gas Contracts. Every legitimate papers template you purchase is yours for a long time. To have one more duplicate associated with a obtained kind, proceed to the My Forms tab and then click the corresponding switch.
If you are using the US Legal Forms website for the first time, keep to the easy directions under:
- Initially, make certain you have chosen the correct papers template for the state/town of your liking. Browse the kind outline to ensure you have selected the correct kind. If offered, utilize the Preview switch to look from the papers template as well.
- If you want to locate one more edition of the kind, utilize the Research field to obtain the template that suits you and needs.
- After you have identified the template you need, click Buy now to continue.
- Choose the costs prepare you need, type your references, and register for your account on US Legal Forms.
- Comprehensive the purchase. You may use your credit card or PayPal profile to fund the legitimate kind.
- Choose the formatting of the papers and download it to the system.
- Make changes to the papers if required. You may total, edit and indication and printing Oklahoma Take Or Pay Gas Contracts.
Acquire and printing thousands of papers web templates using the US Legal Forms web site, that offers the most important selection of legitimate varieties. Use professional and status-specific web templates to take on your small business or personal requires.
Form popularity
FAQ
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.
For instance, if a professional football player is benched the whole season, they may get paid even if they never touched the ball? so long as that's what's been agreed upon. And thus we run into a key implication of pay or play clauses.
An agreement that obligates the purchaser to take any product that is offered (and pay the cash purchase price) and pay a specified amount if the product is not taken.
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).
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.
Buyer-seller agreement where (unlike in a take or pay contract) the buyer's obligation to pay is not unconditional, but is contingent either upon the delivery of purchased goods or services or upon the buyer's consent to take the delivery.
Take or pay is a type of provision in a purchase contract that guarantees the seller a minimum portion of the agreed-on payment if the buyer does not follow through with actually buying the full amount of goods.
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.
