Non-Conventional Gas Sample Clauses

Non-Conventional Gas. Non-Conventional Gas" means gas which is produced from Devonian shales, coal seams, coal beds, or tight gas sands in each case as defined for purposes of Section 29 of the Code, as amended ("Code") or any Code section replacing Section 29, unless and until Seller shall receive a private letter ruling from the Internal Revenue Service ("IRS") or otherwise become aware of a published IRS regulation or ruling, which, in either case, Seller determines, in its sole judgment, permits a sale of Non-Conventional Gas to Purchaser under this Agreement without adverse tax consequences to Seller or any Seller Affiliate or to any parent corporation of Seller. Notwithstanding anything to the contrary in this Section 2.2.7, Seller agrees to sell and Purchaser agrees to purchase Non-Conventional Gas (except to the extent that any Non-Conventional Gas is not Committed Gas pursuant to any other section of this Agreement), beginning on the Effective Date and continuing through December 31, 1997. If on or before December 31, 1997, Seller has not determined in accordance with this Section 2.2.7 that Non-Conventional Gas can be sold to Purchaser without adverse tax consequences under the Code, then beginning on January 1, 1998, Seller agrees to allow Purchaser to market Seller's Non-Conventional Gas as Seller's exclusive agent under the terms of the Agency Agreement. The Agency Agreement shall continue pursuant to its terms, but in no event longer than the term of this Agreement, until Seller's determination, if any, that Non-Conventional Gas can be sold to Purchaser without such adverse tax consequences under the Code. Seller shall provide Purchaser with written notice of such determination, if any, and Non-Conventional Gas shall then become Committed Gas on the first Day of the Month following expiration of thirty (30) Days after the date of such notice. The Agency Agreement shall automatically terminate as of that same date. Purchaser agrees not to sell or resell in its capacity as agent or otherwise any of Seller's Non-Conventional Gas to any Person designated in writing by Seller that would be considered related to Seller within the meaning of Section 29(d)(7) of the Code.
Sample 1
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Non-Conventional Gas. For purposes of this Agreement, "Non- Conventional Gas" means gas which is (a) produced from Devonian shales, coal seams, or tight gas sands, defined as very low permeability sandstones ( 0.1 millidarcies or less, as measured using sound engineering practices) and (b) administered within CUSA by CUSA's Non-Conventional Gas Business Team or its successor. Non-Conventional Gas shall not be Committed Gas subject to this Agreement and CUSA shall not be obligated to sell such Non-Conventional Gas to NGC, nor shall NGC be obligated to purchase such gas from CUSA. Notwithstanding the foregoing, upon NGC's request, made not more frequently than once each six Months, NGC and CUSA shall evaluate CUSA's portfolio of Non-Conventional Gas and determine whether or not any quantity of such Non-Conventional Gas is suitable for treatment as Committed Gas subject to this Agreement. If the Parties are unable to agree on the treatment of any quantity of Non-Conventional Gas, it shall remain Non-Conventional Gas.
Sample 1

Related to Non-Conventional Gas

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