Common use of Put and call of Options Clause in Contracts

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form Access Request (as defined in the Access Arrangement) in accordance with clause 5.2 of the Access Arrangement from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service services occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available OptionsOptions for the Option Period specified in that notice. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is is, or is reasonably likely to be be, insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.. 2021 - 2025 Access Arrangement for the DBNGP 29

Put and call of Options. (a) If the Operator receives a duly completed access request form Access Request (as defined in the Access Arrangement) in accordance with clause 5.2 of the Access Arrangement from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is is, or is reasonably likely to be be, insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available OptionsOptions for the Option Period specified in that notice. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service services occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is the requested in the Third Party Access Request; and (ii) requiring Rrequiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ a Shipper may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapselapsed, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service services occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access RequestReqiuest, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ a Shipper may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapselapsed, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper in the form of a lodged Access Request ( Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is or is reasonably likely to be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapse, are of no force and effect whatsoever, and cannot be exercised.

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper ( (Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is is, or is reasonably likely to be be, insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: (i) confirming receipt of the Third Party Access Request, the start date for the requested service and the amount of Contracted Capacity which is requested in the Third Party Access Request; and (ii) requiring the Shipper to confirm whether the Shipper intends to exercise its available Options or wishes for those Options to lapse; (b) No later than 45 days after receipt of the Operator’s notice issued under clause 4.8(a) and notwithstanding clause 4.5, ▇▇▇▇▇▇▇ a Shipper may give written notice to the Operator that it wishes to exercise its available Options. If such notice is not given before such time or the Shipper confirms that it wishes for those Options to lapse, the Options lapselapsed, are of no force and effect whatsoever, and cannot be exercised.. 2016 2021 - 2020 2025 Access Arrangement for the DBNGP 29