Common use of Monthly Balancing Clause in Contracts

Monthly Balancing. At the end of each month, the cumulative imbalance shall be designated as “Cash Out Quantities” and reduced to zero volume by cash out. The cash out price will be the 100% cash out index price calculated pursuant to the respective Interconnecting Pipeline’s Pipeline Tariff on which the imbalance occurred, exclusive of any imbalance penalties. For avoidance of doubt, any and all penalties and other charges including charges resulting from Gatherer being cashed out at a price above or below the 100% cash out index price pursuant to the Pipeline Tariff from the Interconnecting Pipelines shall be incurred by Gatherer, and Shipper shall be held harmless from paying any such penalties or charges.

Monthly Balancing. At the end of each month, the cumulative imbalance shall be designated as “Cash Out Quantities” and reduced to zero volume by cash out. The cash out price will be the 100% cash out index price calculated pursuant to the respective Interconnecting Pipeline’s Pipeline Tariff on which the imbalance occurred, exclusive of any imbalance penalties. penalties For avoidance of doubt, any and all penalties and other charges including charges resulting from Gatherer being cashed out at a price above or below the 100% cash out index price pursuant to the Pipeline Tariff from the Interconnecting Pipelines shall be incurred by Gatherer, and Shipper shall be held harmless from paying any such penalties or charges.