Operational Balancing Agreements Sample Clauses
An Operational Balancing Agreement (OBA) is a contractual arrangement between parties, typically in the natural gas industry, that governs how imbalances between gas quantities delivered and received at a specific interconnection point are managed. Under an OBA, the parties agree on procedures for tracking, reporting, and resolving any differences in gas volumes, often allowing for a certain tolerance before requiring corrective action. This clause ensures that both parties can efficiently handle minor discrepancies in gas flows, thereby maintaining system integrity and reducing the risk of disputes over small operational variances.
Operational Balancing Agreements. Seller will be -------------------------------- responsible for correcting any imbalances or variations under the Firm Transportation and Firm Storage Contracts. It is understood that Seller shall correct such imbalances or variations, pursuant to Rate Schedule FT-G, through automatic injections and withdrawals under the Firm Storage Contracts. In addition, Buyer agrees to appoint Seller as its agent to enter into and maintain an Operational Balancing Agreement (OBA) with Tennessee in accordance with Tennessee's tariff. If Seller is unable to correct such imbalances or variations through automatic injections and withdrawals under the Firm Storage Contracts as set forth above due to inventory levels in storage for Buyer's account or otherwise, then any variance between actual deliveries and confirmed nominations at the Delivery Point(s) will be allocated to the OBA. Seller shall be responsible for correcting any such variation or imbalance under the OBA and any resulting month-end cashout.
Operational Balancing Agreements. The Parties agree to use their best efforts to maintain operational balancing agreements, or their equivalent ("OBA"), at each Delivery Point and at such other points the Parties deem advisable. With respect to any point at which an OBA is not in effect, upon Seller's written request, Purchaser will assume the responsibility for negotiating and implementing an OBA at such point(s) on terms and conditions acceptable to Seller and Purchaser, if offered by a Transporter.
Operational Balancing Agreements. The Parties shall use commercially reasonable efforts to maintain an operational balancing agreement (an "OBA"), at each point of delivery into a transporting pipeline or at such other points the Parties deem advisable. In respect to any point at
Operational Balancing Agreements. Buyer shall retain all responsibilities for confirming all of Sellers daily deliveries to Buyer's city gates covered under Buyers Operational Balancing Agreements (OBA) for both Tennessee and Algonquin. As such, any imbalances caused by Seller over or under delivering Buyer's Daily Nominated Quantities shall be the physical and financial responsibility of Seller. Any imbalances caused by Buyer physically taking greater or less than Buyers Daily Nominated Quantities shall be the physical and financial responsibility of Buyer.
Operational Balancing Agreements. The Parties may agree to maintain operational balancing agreements or the equivalent ("▇▇▇▇") at points where such agreements are available and where having such agreements in place can facilitate the avoidance and/or resolution of imbalances. As to Balancing Points covered by an OBA, Dynegy shall be commercially responsible for keeping the OBA in balance and Producer's Imbalances with Dynegy will be resolved as provided in Section 3.3. "Confidential Treatment Requested"
Operational Balancing Agreements. The Parties agree to use their best efforts to maintain an operational balancing agreement, or the equivalent ("OBA"), at each point of delivery into a transporting pipeline or at such other points the Parties deem advisable. In respect to any point at which an OBA is not in effect, upon CUSA's request, NGC will assume the responsibility for negotiating and implementing an OBA on terms and conditions acceptable to CUSA and NGC.