This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a crucial document that provides a detailed framework for managing gas balancing agreements in Vermont. This exhibit serves as an addendum to the primary operating agreement, outlining specific provisions related to gas balancing. Gas balancing agreements are essential in the energy industry to ensure a constant supply of gas while maintaining system integrity. Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 contains key terms and conditions that all parties involved must adhere to, promoting efficient gas management and minimizing discrepancies. This exhibit may have distinct variations, including updated versions or modifications to previous agreements. Some additional Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 types may include: 1. Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1.1: This version could incorporate updated provisions, changes in gas balancing practices, or other relevant alterations to address evolving needs in Vermont's gas industry. 2. Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1.2: This variant might include specific provisions related to gas balancing in different regions or areas within Vermont, considering unique operational requirements and constraints. 3. Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1.3: In certain cases, this form may address exceptional circumstances, such as emergency gas balancing procedures, force majeure, or unforeseen events impacting the gas supply chain. Regardless of the specific variation, Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 aims to provide clear guidelines for gas balancing activities. It typically includes comprehensive information on: — Gas balancing methodologies: This section outlines the system and approach used to ensure gas supply meets demand consistently. It may include details on calculations, tolerance thresholds, and measurement methodologies. — Proportional sharing of imbalances: To maintain fairness among parties, this portion lays out the principles for sharing any gas imbalances. It may specify how over-deliveries or under-deliveries should be accounted for and distributed among participants. — Balancing charges and penalties: The exhibit typically defines the penalties or charges applicable for imbalances, late submissions, or failure to comply with the gas balancing agreement. It may outline the formula used to calculate these charges and how they are to be billed. — Reporting and communication: This section highlights the need for accurate and timely reporting of gas balancing information between parties involved. It may outline frequency, format, and specific reporting requirements to ensure effective communication. — Dispute resolution: In the event of disputes related to gas balancing, this section may outline the procedures and mechanisms for resolving conflicts. It could include provisions for mediation, arbitration, or escalation to regulatory authorities if necessary. Vermont Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 and its various types play a vital role in managing gas supply and demand in Vermont. By establishing clear guidelines and frameworks for gas balancing activities, these agreements help maintain the stability and efficiency of the gas network, benefiting all stakeholders in the energy sector.
