Committed Gas Clause Samples

The 'Committed Gas' clause defines the specific quantity of natural gas that a seller is obligated to deliver and a buyer is required to purchase under a contract. This clause typically outlines the volume, delivery schedule, and any conditions or limitations related to the committed gas, such as minimum or maximum amounts and timeframes for delivery. By clearly specifying these obligations, the clause ensures both parties understand their supply and purchase commitments, thereby reducing the risk of disputes and providing certainty in planning and operations.
Committed Gas. During the term hereof and subject to any limitations herein set forth, Seller shall sell to Buyer and Buyer shall purchase from Seller all deliverable Gas owned or controlled (as defined in Article XIII) by Seller during the term of this Agreement in North America (onshore and offshore), excluding, however, Gas defined as Excluded Gas. All Gas described in the preceding sentence shall be hereinafter referred to as "Committed Gas." Buyer and Seller shall agree on the arrangements for delivery by Seller and taking by Buyer of Committed Gas presently being produced in Canada not later than the last to occur of (a) 90 days after the Effective Date or (b) 90 days after a Seller's initial acquisition of Gas production in Canada. Until such arrangements are in place, Canadian Gas shall not be considered "Committed Gas." If Buyer and Seller cannot reach agreement on the foregoing matters before such date, then the differences between Buyer and Seller shall be submitted to arbitration in accordance with Section 14.10.
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Committed Gas. 5 3.2 Excluded Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 3.3
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Committed Gas. Subject to the terms and conditions of this Agreement, Seller commits to the performance of this Agreement and shall sell and deliver, or cause to be delivered, one hundred percent (100%) of the Committed Gas, and Purchaser shall purchase and receive, or cause to be received, one hundred percent (100%) of the Committed Gas made available by Seller. "Committed Gas" is defined as all gas produced and owned or controlled by Seller and any Seller Affiliate within the Committed Area during the term of this Agreement, including such gas produced from well▇ ▇▇ existence on the Effective Date, well▇ ▇▇▇lled or re-completed subsequent to the Effective Date in the Committed Area and make-up gas accruing to, and capable of being delivered by, Seller or any Seller Affiliate after the Effective Date as a result of production or pipeline imbalances, regardless of whether the imbalances occurred before or after the Effective Date, in all cases, other than Excluded Gas.
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Committed Gas. During the term of this Agreement, CUSA agrees to sell to NGC and NGC agrees to purchase from CUSA under the terms of this Agreement all Committed Gas. Subject to the terms and conditions of this Agreement, CUSA's obligation to sell one hundred percent (100%) of the Committed Gas and NGC's obligation to purchase one hundred percent (100%) of the Committed Gas made available by CUSA are firm obligations. Committed Gas is defined as all gas produced and owned or controlled by CUSA during the term of this Agreement, except gas ------ that is dedicated to a Pre-Effective Date Commitment, gas dedicated to a Post-Effective Date Commitment, gas reserved by CUSA for Lease Use, gas produced from non-conventional sources of supply, and gas produced from acreage farmed out by CUSA to a third party. Committed Gas includes, without limitation, gas produced from ▇▇▇▇▇ in existence on the Effective Date, ▇▇▇▇▇ drilled or recompleted subsequent to the Effective Date and make up gas accruing to, and capable of being delivered by, CUSA after the Effective Date as a result of production or pipeline imbalances regardless of whether the imbalances occurred before or after the Effective Date. 2.1.1 Pre-Effective Date Commitment. Exhibit B to this Agreement describes ▇▇▇▇▇, oil, gas and mineral leases, gas reserves, or producing properties however characterized that are not subject to this Agreement because the gas produced from such properties is dedicated to the contractual arrangements described in Exhibit B ("Pre-Effective Date Commitment"). Gas subject to a Pre-Effective Date Commitment shall become Committed Gas at such time as the gas may be sold and delivered to NGC as a result of termination or cancellation of the Pre-Effective Date Commitment or other release of the gas from the Commitment.
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Committed Gas. The Committed Gas delivered to Delos at the Point of Delivery for processing hereunder shall meet the quality specifications set forth in Exhibit C General Terms and Conditions of EPFS' Gas Gathering and Production Area Services Agreement. Delos shall have the option to accept the Committed Gas if the above referenced quality specifications are not met; provided however, that such acceptance shall not operate as a waiver of such quality specifications and Delos may decline to accept such Committed Gas, which at any time does not meet such specifications.
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Committed Gas. During the term hereof and subject to any limitations herein set forth, Seller shall sell to Buyer and Buyer shall purchase from Seller all Gas production
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Related to Committed Gas

  • Revolving Committed Amount If at any time after the Closing Date, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations shall exceed the Revolving Committed Amount, the Borrower shall immediately prepay the Revolving Loans and Swingline Loans and (after all Revolving Loans and Swingline Loans have been repaid) Cash Collateralize the LOC Obligations in an amount sufficient to eliminate such excess (such prepayment to be applied as set forth in clause (vii) below).

  • Commitment of Current Revenues Only In the event that, during any term hereof, the Commissioners Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company. County agrees, however, to use reasonable efforts to secure funds necessary for the continued performance of this Agreement. The parties intend this provision to be a continuing right to terminate this Agreement at the expiration of each budget period of County. Agreements for the acquisition, including lease of real or personal property under Tex. Loc. Govt. Code §271.903 (▇▇▇▇▇▇ Supp. 1996).

  • Committed Loans Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Revolving Commitment Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrowers from time to time from the Effective Date until the Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein for the purposes hereinafter set forth (provided, that, all Revolving Loans made prior to the Effective Time (as defined in the Merger Agreement) shall be made to Speedway Funding); provided, however, that (x) the sum of the aggregate principal amount of outstanding Revolving Loans at any time shall not exceed the Revolving Committed Amount and (y) the sum of the aggregate principal amount of outstanding Revolving Loans on the Effective Date shall not exceed $20,000,000 (which outstanding amount shall result only from borrowings of Revolving Loans the proceeds of which are used to finance the Offer (as defined in the Merger Agreement) and for fees and expenses related to the Merger); provided, further, (i) with regard to each Revolving Lender individually, such Lender’s share of outstanding Revolving Obligations shall not exceed such Lender’s Revolving Commitment Percentage of the Revolving Committed Amount and (ii) with regard to the Revolving Lenders collectively, the aggregate principal amount of outstanding Revolving Obligations shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may from time to time be increased pursuant to Section 2.6 or reduced as provided in Section 3.3). Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrowers may request and may be repaid and reborrowed in accordance with the provisions hereof; provided, however, that no more than six Eurodollar Loans shall be outstanding hereunder at any time with respect to Revolving Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date and have the same duration, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period.

  • Making Revolving Credit Loans The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.5 [Revolving Credit Loan Requests; Swing Loan Requests], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Revolving Credit Loans as determined by the Administrative Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations with Respect to Revolving Credit Loans]. Each Lender shall remit the principal amount of each Revolving Credit Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2 [Each Loan or Letter of Credit], fund such Revolving Credit Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Revolving Credit Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].