File Name: gas sale and purchase agreement .zip
Actively scan device characteristics for identification.
Exhibit PPM Energy, Inc. Execution Version. Gas Purchase and Sale Agreement. Buyer shall pay or cause to be paid all Taxes imposed by any governmental authority on Buyer on or with respect to the Gas at and after the Delivery Point. Any Party entitled to an exemption from any such Taxes or charges shall furnish the.
What's on Practical Law? Show less Show more. Ask a question. Related Content. A gas sale agreement GSA is the key agreement documenting the sale and purchase of a quantity of natural gas. This standard document GSA provides for one seller and one buyer and is drafted from a neutral point of view.
Regulation 1. Natural Gas Act New Deal-era law to regulate interstate gas pipelines through controls on sales prices and industry entry. In , US Supreme Court in Phillips case allowed the Federal Power Commission to regulate wellhead prices at which producers sold natural gas to interstate pipelines. As a result of setting the prices too low to benefit consumers, producers curtailed drilling new gas wells and widespread natural gas shortages occurred in the s. Natural Gas Policy Act of was enacted to phase out price control ceiling and increase production into interstate commerce.
The Sellers desire to sell to the Buyer and the Buyer desires to buy from the Sellers, at the Delivery Point Natural Gas during the Contract Period, upon and subject.
Execution Date: The date on which the Seller and the Buyer receive their respective copies of this agreement, or as may be indicated otherwise in The Agreement. Whereas, the parties mutually desire to execute The Agreement which shall be binding upon, and to the benefit of, the parties, successors and assigns, in accordance with the jurisdictional law of the negotiated and fully executed contract with terms and provisions hereunder agreed upon. Seller and Buyer, under full corporate authority and responsibility, respectively represent that one part is a lawful owner of the commodity in quantity and quality as hereunder specified, and the other has the full capability to purchase the said commodity.
Between two parties involved in a sale, both sellers and buyers will need a high quality sales agreement to make their transaction official and legally enforceable. A well-written and carefully prepared document can go a long way in making sure everything goes according to plan and that the parties are made aware of the many obligations shared between them.