Dedication and Quantity Clause Samples
Dedication and Quantity. 1.1 Subject to the other provisions of this Agreement, Seller does hereby commit and dedicate to the performance of this Agreement and agrees to sell and deliver to Buyer hereunder one hundred percent (100%) of the Gas production which Seller owns, controls or has the right to sell, pursuant to the Conveyance (as such Exhibit may from time to time be amended, restated, supplemented, or otherwise modified) and that is capable of being transported to Buyer's Purchaser under contracts with Buyer's Transporters (herein called the "Marketed Volumes"). Seller represents and warrants that it has the right to market and sell to Buyer hereunder the Marketed Volumes. Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to purchase from Seller, upon the terms of this Agreement all of the Marketed Volumes which are actually delivered to and accepted by Buyer's Purchaser.
1.2 During the term hereof and as required by the applicable Buyer's Marketing Agreements, Seller shall provide to Buyer, or to Buyer's designee, a written nomination setting forth the quantity of Gas to be delivered to Buyer, or to Buyer's designee, each Day during such Month (herein called the "First-of-the-Month Nominated Quantity"). Seller shall provide to Buyer, or to Buyer's designee, such notice as is required by the applicable Buyer's Marketing Agreements prior to
Dedication and Quantity. Seller dedicates to Buyer under the transaction covered by an effective Transaction Agreement all of Seller's owned or controlled gas capable of being produced from the Dedicated Wells identified on the Transaction Agreement during the Purchase ▇▇▇▇od, which is either produced by Seller, purchased by Seller from the producer thereof for resale, or marketed by Seller on behalf of the owner thereof, up to a maximum on any Day equal to the Maximum Daily Quantity, if any, specified in the Transaction Agreement. Subject to the terms of this Agreement and an executed Transaction Agreement, Seller shall sell, deliver, and schedule for transportation (if applicable), and Buyer shall purchase, receive, and schedule for transportation, the quantity of Seller's gas producible from the Dedicated Welts which Buyer desires to purchase from time to time up to 100% of the gas owned or controlled by Seller, but not to exceed the Maximum Daily Quantity on any Day of the Purchase Period In the event that Buyer does not take and purchase at least 95% of Seller's gas dedicated to the transaction during any three consecutive Month period, then Seller, as its sole remedy, may terminate this Agreement as to the applicable Transaction Agreement only by giving Buyer at least 10 days' prior written notice which must be given to Buyer within 15 days from the end of the applicable three Month period. At least ten days prior to the first Day of each Month, Seller shall provide Buyer with Seller's good faith estimate ("Seller's Estimate") of the amount of gas which Seller expects to have available for sale and delivery during each Day of the Month under a Transaction Agreement. If the quantity of gas which Seller sets forth in Seller's Estimate exceeds the actual quantity of gas which Seller has available and Buyer has committed the gas to a resale market requiring a firm sale obligation on behalf of Buyer, then Seller shall reimburse Buyer for any additional costs and losses, including additional transportation costs, incurred by Buyer in securing replacement gas, if any, on the open market to replace the gas not provided by Seller, which will be deducted from the amounts due Seller hereunder or reimbursed to Buyer. The parties shall make nominations and confirmations to each other and to transporting pipelines in a timely manner and give the other party notice as soon as possible of any increases or decreases in deliveries or receipts. To the extent practical, deliveries and receipts ...
Dedication and Quantity