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.
Virginia 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?
Choosing the best lawful papers template can be a have a problem. Obviously, there are plenty of web templates accessible on the Internet, but how would you discover the lawful type you want? Use the US Legal Forms website. The assistance gives a large number of web templates, such as the Virginia Take Or Pay Gas Contracts, which can be used for company and private demands. All the types are checked by experts and meet up with federal and state specifications.
In case you are presently authorized, log in to the account and then click the Acquire button to get the Virginia Take Or Pay Gas Contracts. Utilize your account to search throughout the lawful types you might have acquired in the past. Check out the My Forms tab of your respective account and obtain one more duplicate of the papers you want.
In case you are a brand new end user of US Legal Forms, here are simple instructions for you to adhere to:
- Initial, be sure you have chosen the correct type for the city/region. You can look over the form utilizing the Preview button and browse the form outline to guarantee it is the best for you.
- In the event the type will not meet up with your requirements, take advantage of the Seach discipline to discover the right type.
- Once you are positive that the form is proper, go through the Buy now button to get the type.
- Pick the prices program you would like and enter the required information. Design your account and pay for your order using your PayPal account or Visa or Mastercard.
- Select the file format and obtain the lawful papers template to the gadget.
- Complete, change and printing and indication the received Virginia Take Or Pay Gas Contracts.
US Legal Forms is the most significant local library of lawful types that you can see a variety of papers web templates. Use the service to obtain skillfully-created documents that adhere to condition specifications.
Form popularity
FAQ
Take-and-pay contract. 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.
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.
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. Take-or-pay provisions can commonly be found in the energy sector, where overhead costs are high.
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).
With this kind of contract, the company/customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, they agree to pay the supplier a certain price, say $50 per ton.
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.
The wholesale provider agrees to provide you with fuel at a specified volume and price. A typical fuel contract determines a set price per gallon for the amount of time agreed upon by both parties. Fuel prices may fluctuate during that time, but the price you pay stays the same due to the fuel contract in place.
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.
