Middlesex Massachusetts Assignment of Contracts Relating to Sale of A Gas Plant
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FAQ
It is simply a contract to supply a quantity of gas over a period of time. There is no specific field identified as the source of supply and the seller is free to supply gas from any field available to him.
A natural gas futures contract is a firm commitments to make or accept delivery of a specific quantity and quality of a natural gas during a specific month in the future at a price agreed upon at the time the commitment is made.
An assignment of contract occurs when one party to an existing contract (the "assignor") hands off the contract's obligations and benefits to another party (the "assignee"). Ideally, the assignor wants the assignee to step into his shoes and assume all of his contractual obligations and rights.
These agreements or ventures arise from situations in which two or more parties pool their divided or undivided interests to share the costs and risks of either exploration or development or both.
An assignment of contract involves transferring a real estate contract from an original party (also known as the real estate wholesaler or assignor) to a new party (also known as the assignee). It is also referred to as an Assignment of Real Estate Purchase and Sale agreement.
Keep Whole Contract means any contract which requires Borrower to replace the energy content for natural gas liquids extracted from gas received by Borrower from producers with natural gas."
This is an arrangement whereby the oil company is engaged by the government entity as a contractor to infuse the entire risk capital for exploration and production of petroleum.
A purchase contract assignment is between a holder (assignor) that transfers their interest in buying real estate to someone else (assignee). Before the closing, it is common to assign a purchase contract to a business entity or the person whom the loan or mortgage will be under.
The purpose of the transfer and assignment clause in the purchase agreement is to protect all involved parties' rights and ensure that assignments are not to be unreasonably withheld. Contract lawyers can help you avoid legal mistakes when drafting your business contracts' transfer and assignment clauses.