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How to quickly redact Take Or Pay Gas Contracts online
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ONRR defines a keepwhole contract as a processing agreement whereby the processor delivers to the lessee a quantity of gas after processing equivalent to the quantity of gas the processor received from the lessee prior to processing, normally based on heat content, less gas used as plant fuel and gas unaccounted for
When to Use take-or-pay contract?
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 agreed amount of goods. Take or pay provisions can commonly be found in the energy sector, where overhead costs are high.
What is the current price of natural gas?
Key Data LabelValueLast4.959Prior Settlement5.35852 Week High9.6852 Week Low3.5613 more rows
What is meant by a requirements contract?
Requirements contract is a contract between a supplier or manufacturer and a purchaser where the seller agrees to provide the purchaser with all the goods that the purchaser needs, and the buyer agrees to purchase the goods exclusively from the supplier.
How much is a natural gas contract?
Natural gas futures contract specifications Exchange, Product Name, Product CodeNew York Mercantile Exchange (NYMEX), Henry Hub Natural Gas Futures, NGContract Size10,000 mmBtuMinimum Tick Size and Value0.001, worth $10.00 per contract.2 more rows
Related Searches
take-or-pay contract vs take-and paydifference between take-or-pay and take-and-pay contracts in electricity marketstake-or-pay clause samplealternatives to take-or-pay contracttake-or-pay power purchase agreementtake-or-pay contract energytake-or-pay vs minimum volume commitmenttake-or-pay contracts u.s. gaap
(a) Description. A requirements contract provides for filling all actual purchase requirements of designated Government activities for supplies or services during a specified contract period (from one contractor), with deliveries or performance to be scheduled by placing orders with the contractor.
What is an example of a requirements contract?
For example, a grocery store might enter into a contract with the farmer who grows oranges under which the farmer would supply the grocery store with as many oranges as the store could sell.
What is meant by a requirements contract?
Requirements contract is a contract between a supplier or manufacturer and a purchaser where the seller agrees to provide the purchaser with all the goods that the purchaser needs, and the buyer agrees to purchase the goods exclusively from the supplier.
How do take-or-pay contracts work?
A take-or-pay clause is essentially an agreement whereby the buyer agrees to either: (1) take, and pay the contract price for, a minimum contract quantity of commodity each year (the TOP Quantity); or (2) pay the applicable contract price for such TOP Quantity if it is not taken during the applicable year.
What is keep whole gas contract?
ONRR defines a keepwhole contract as a processing agreement whereby the processor delivers to the lessee a quantity of gas after processing equivalent to the quantity of gas the processor received from the lessee prior to processing, normally based on heat content, less gas used as plant fuel and gas unaccounted for
Related links
contract for the sale and purchase of natural gas - SEC.gov
(a) Buyer agrees to purchase and take delivery of all of Sellers Gas tendered by Seller at the Delivery Point or to pay for any such quantities not so
Statement of policy respecting take or pay provisions in gas
2.103 Statement of policy respecting take or pay provisions in gas purchase contracts. (a) Recognizing that take or pay contract obligations may be shielding
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