COMMITMENT OF GAS AND OBLIGATION TO PURCHASE Sample Clauses

The 'Commitment of Gas and Obligation to Purchase' clause establishes the seller's obligation to supply a specified quantity of gas and the buyer's corresponding duty to purchase that amount under the contract. Typically, this clause outlines the minimum and/or maximum volumes to be delivered and bought, the timeframe for delivery, and any conditions under which these commitments may be adjusted, such as force majeure events or operational constraints. Its core function is to provide certainty and predictability for both parties regarding supply and demand, thereby reducing the risk of disputes over delivery shortfalls or excesses.
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COMMITMENT OF GAS AND OBLIGATION TO PURCHASE. 2.1 COMMITTED GAS. During the term of this Agreement, Producer agrees to sell to Dynegy and Dynegy agrees to purchase from Producer under the terms of this Agreement all Committed Gas. Subject to the terms and conditions of this Agreement, Producer's obligation to sell one hundred percent (100%) of the Committed Gas and Dynegy's obligation to purchase one hundred percent (100%) of the Committed Gas made available by Producer are firm obligations. Committed Gas is defined as all gas produced in the lower-48 United States and owned or controlled by CUSA and TEPI during the term of this Agreement, except gas that is dedicated to a Pre-Effective Date Commitment as defined in Section 2.1.1, gas dedicated to a Post-Effective Date Commitment as defined in Section 2.1.2, gas reserved for Lease Use as defined in Section 2.1.4, gas from Small-Volume Sources that CUSA or TEPI has elected to exclude from commitment hereunder as provided in Section 2.1.5, gas produced from Excluded Sources as described in Section 2.1.6, gas produced from acreage farmed out by CUSA or TEPI to a third party as described in Section 2.1.7, Refinery Supply Gas as defined in Section 2.1.8., Emergency Internal Use Supply as defined in Section 2.1.9, and Cogeneration Supply Gas released from this Agreement pursuant to Section 2.1.
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COMMITMENT OF GAS AND OBLIGATION TO PURCHASE. 2.1 COMMITTED GAS. During the term of this Agreement, and subject to any limitations herein set forth, UPR agrees to sell to UPFUELS and UPFUELS agrees to purchase from UPR under the terms of this Agreement all deliverable Committed Gas, as defined in the third sentence of this Section 2. 1. Subject to the terms and conditions of this Agreement, UPR's obligation to sell all deliverable Committed Gas, and UPFUELS' obligation to purchase all Committed Gas made available
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COMMITMENT OF GAS AND OBLIGATION TO PURCHASE 
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Related to COMMITMENT OF GAS AND OBLIGATION TO PURCHASE

  • Assignment of Rights and Obligations (a) Without Owners’ prior written consent, Managing Agent shall not sell, transfer, assign or otherwise dispose of or mortgage, hypothecate or otherwise encumber or permit or suffer any encumbrance of all or any part of its rights and obligations hereunder, and any transfer, encumbrance or other disposition of an interest herein made or attempted in violation of this paragraph shall be void and ineffective, and shall not be binding upon Owners. Notwithstanding the foregoing, Managing Agent may assign its rights and delegate its obligations under this Agreement to any subsidiary of Parent so long as such subsidiary is then and remains Controlled by Parent. (b) Owners, without Managing Agent’s consent, may not assign their respective rights or delegate their respective obligations hereunder. (c) Any assignment permitted hereunder shall not release the assignor hereunder.

  • Continuing Rights and Obligations After the satisfaction and discharge of this Indenture, this Indenture will continue for (i) rights of registration of transfer and exchange, (ii) replacement of mutilated, destroyed, lost or stolen Notes, (iii) the rights of the Noteholders to receive payments of principal of and interest on the Notes, (iv) the obligations of the Indenture Trustee and any Note Paying Agent under Section 3.3, (v) the rights, obligations and immunities of the Indenture Trustee under this Indenture and (vi) the rights of the Secured Parties as beneficiaries of this Indenture in the property deposited with the Indenture Trustee payable to them for a period of two years after the satisfaction and discharge.

  • Absolute Rights and Obligations This is a guaranty of payment and not of collection. The Guarantors’ Obligations under this Guaranty Agreement shall be joint and several, absolute and unconditional irrespective of, and each Guarantor hereby expressly waives, to the extent permitted by law, any defense to its obligations under this Guaranty Agreement and all Security Instruments to which it is a party by reason of: (a) any lack of legality, validity or enforceability of the Floorplan Credit Agreement, of any of the Notes, of any other Loan Document, or of any other agreement or instrument creating, providing security for, or otherwise relating to any of the Guarantors’ Obligations, any of the Guaranteed Liabilities, or any other guaranty of any of the Guaranteed Liabilities (the Loan Documents and all such other agreements and instruments being collectively referred to as the “Related Agreements”); (b) any action taken under any of the Related Agreements, any exercise of any right or power therein conferred, any failure or omission to enforce any right conferred thereby, or any waiver of any covenant or condition therein provided; (c) any acceleration of the maturity of any of the Guaranteed Liabilities, of the Guarantor’s Obligations of any other Guarantor, or of any other obligations or liabilities of any Person under any of the Related Agreements; (d) any release, exchange, non-perfection, lapse in perfection, disposal, deterioration in value, or impairment of any security for any of the Guaranteed Liabilities, for any of the Guarantor’s Obligations of any Guarantor, or for any other obligations or liabilities of any Person under any of the Related Agreements; (e) any dissolution of any Borrower or any Guarantor or any other party to a Related Agreement, or the combination or consolidation of any Borrower or any Guarantor or any other party to a Related Agreement into or with another entity or any transfer or disposition of any assets of any Borrower or any Guarantor or any other party to a Related Agreement; (f) any extension (including without limitation extensions of time for payment), renewal, amendment, restructuring or restatement of, any acceptance of late or partial payments under, or any change in the amount of any borrowings or any credit facilities available under, the Floorplan Credit Agreement, any of the Notes or any other Loan Document or any other Related Agreement, in whole or in part; (g) the existence, addition, modification, termination, reduction or impairment of value, or release of any other guaranty (or security therefor) of the Guaranteed Liabilities (including without limitation the Guarantor’s Obligations of any other Guarantor and obligations arising under any other Guaranty now or hereafter in effect); (h) any waiver of, forbearance or indulgence under, or other consent to any change in or departure from any term or provision contained in the Floorplan Credit Agreement, any other Loan Document or any other Related Agreement, including without limitation any term pertaining to the payment or performance of any of the Guaranteed Liabilities, any of the Guarantor’s Obligations of any other Guarantor, or any of the obligations or liabilities of any party to any other Related Agreement; (i) any other circumstance whatsoever (with or without notice to or knowledge of any Guarantor) which may or might in any manner or to any extent vary the risks of such Guarantor, or might otherwise constitute a legal or equitable defense available to, or discharge of, a surety or a guarantor, including without limitation any right to require or claim that resort be had to any Borrower or any other Loan Party or to any collateral in respect of the Guaranteed Liabilities or Guarantors’ Obligations, whether arising under North Carolina General Statutes Sections 26-7 and 26-9 or otherwise. It is the express purpose and intent of the parties hereto that this Guaranty Agreement and the Guarantors’ Obligations hereunder and under each Joinder Agreement shall be absolute and unconditional under any and all circumstances and shall not be discharged except by payment as herein provided.

  • Termination of Conditions and Obligations The conditions precedent imposed by Section 5 or this Section 7 upon the transferability of the Shares shall cease and terminate as to any particular number of the Shares when such Shares shall have been effectively registered under the Securities Act and sold or otherwise disposed of in accordance with the intended method of disposition set forth in the Registration Statement covering such Shares or at such time as an opinion of counsel satisfactory to the Company shall have been rendered to the effect that such conditions are not necessary in order to comply with the Securities Act.

  • Rights and Obligations on Termination In the event of termination of this Agreement pursuant to any part of paragraph 18.1 above, the parties shall have the following rights and obligations: