Common use of Price Billing and Payment Clause in Contracts

Price Billing and Payment. 8.1 The price for each MMBtu of gas sold and delivered hereunder shall be as follows: a. The price for each MMBtu of the Minimum Daily Quantity sold and delivered hereunder during any month shall be the Index Price minus *. b. The price for each MMBtu of Excess Gas sold and delivered hereunder during each day shall be the * Index Price applicable to such day. 8.2 On or before the sixteenth (16th) day of each calendar month, Seller will render to Buyer a statement setting forth the total quantity of gas, in terms of Mcf and MMBtu, delivered hereunder at the Point(s) of Delivery during the immediately preceding calendar month and the amount payable therefor. Buyer agrees to pay Seller by wire transfer in immediately available funds pursuant to written wire transfer instructions provided by Seller to Buyer from time to time the full undisputed amount payable according to such statement, consistent with the terms hereof, on or before the later of the twenty-sixth (26th) day of each month or ten (10) days following the receipt thereof by Buyer. Should Buyer fail to pay any undisputed amount when 8.3 the same becomes due, interest shall accrue thereon at a rate equal to the prime rate from time to time in effect and charged by the Citibank, N. A., New York, New York (but in no event greater than the maximum rate of interest permitted by law), with adjustments in such rate to be made on the same day as any change in such prime rate, for any period during which the same shall be overdue, such interest to be paid when the amount past due is paid. In the event of any dispute, Buyer and Seller shall meet and promptly resolve such dispute. 8.4 Each party hereto or its representative shall have the right at all reasonable times to examine the books and records of the other party to the extent necessary to verify the accuracy of any statement, charge, computation or demand made under or pursuant to this contract. 8.5 Any notice, request, demand, statement, payment or other correspondence shall be mailed to the post office address of each of the parties hereto, hereinafter stated, or to such other address as such party may hereafter designate to the other in writing:

Price Billing and Payment. 8.1 The price for each MMBtu of gas sold and delivered hereunder shall be as follows: a. The price for each MMBtu of the Minimum Daily Quantity sold and delivered hereunder during any month shall be the Index Price minus *. b. The price for each MMBtu of Excess Gas sold and delivered hereunder during each day shall be the * Index Price applicable to such day. 8.2 On or before the sixteenth (16th) day of each calendar month, Seller will render to Buyer a statement setting forth the total quantity of gas, in terms of Mcf and MMBtu, delivered hereunder at the Point(s) of Delivery during the immediately preceding calendar month and the amount payable therefor. Buyer agrees to pay Seller by wire transfer in immediately available funds pursuant to written wire transfer instructions provided by Seller to Buyer from time to time the full undisputed amount payable according to such statement, consistent with the terms hereof, on or before the later of the twenty-sixth (26th) day of each month or ten (10) days following the receipt thereof by Buyer. Should Buyer fail to pay any undisputed amount when 8.3 the same becomes due, interest shall accrue thereon at a rate equal to the prime rate from time to time in effect and charged by the Citibank, N. A., New York, New York (but in no event greater than the maximum rate of interest permitted by law), with adjustments in such rate to be made on the same day as any change in such prime rate, for any period during which the same shall be overdue, such interest to be paid when the amount past due is paid. In the event of any dispute, Buyer and Seller shall meet and promptly resolve such dispute. 8.4 Each party hereto or its representative shall have the right at all reasonable times to examine the books and records of the other party to the extent necessary to verify the accuracy of any statement, charge, computation or demand made under or pursuant to this contract. 8.5 Any notice, request, demand, statement, payment or other correspondence shall be mailed to the post office address of each of the parties hereto, hereinafter stated, or to such other address as such party may hereafter designate to the other in writing:: Seller: Corpus Christi Gas Marketing, L.P. 0000 Xxxxx Xxxxxxx, Xxxxx 000 Xxxxxx, Xxxxx 00000 Attn: Contract Administration Buyer: Tejas Gas Marketing, LLC 000 Xxxxxx, Xxxxx 000 Xxxxxxx, Xxxxx 00000 Attn: Contract Administrator

Price Billing and Payment. 8.1 The price for each MMBtu of gas sold and delivered hereunder shall be as follows: a. The price for each MMBtu of the Minimum Daily Quantity sold and delivered hereunder during any month shall be the Index Price minus *. b. The price for each MMBtu of Excess Gas sold and delivered hereunder during each day shall be the * Agua Dulce Index Price applicable to such day. 8.2 On or before the sixteenth (16th) day of each calendar month, Seller will render to Buyer a statement setting forth the total quantity of gas, in terms of Mcf and MMBtu, delivered hereunder at the Point(s) of Delivery during the immediately preceding calendar month and the amount payable therefor. Buyer agrees to pay Seller by wire transfer in immediately available funds pursuant to written wire transfer instructions provided by Seller to Buyer from time to time the full undisputed amount payable according to such statement, consistent with the terms hereof, on or before the later of the twenty-sixth (26th) day of each month or ten (10) days following the receipt thereof by Buyer. Should Buyer fail to pay any undisputed amount when 8.3 the same becomes due, interest shall accrue thereon at a rate equal to the prime rate from time to time in effect and charged by the Citibank, N. A., New York, New York (but in no event greater than the maximum rate of interest permitted by law), with adjustments in such rate to be made on the same day as any change in such prime rate, for any period during which the same shall be overdue, such interest to be paid when the amount past due is paid. In the event of any dispute, Buyer and Seller shall meet and promptly resolve such dispute. 8.4 Each party hereto or its representative shall have the right at all reasonable times to examine the books and records of the other party to the extent necessary to verify the accuracy of any statement, charge, computation or demand made under or pursuant to this contract. 8.5 Any notice, request, demand, statement, payment or other correspondence shall be mailed to the post office address of each of the parties hereto, hereinafter stated, or to such other address as such party may hereafter designate to the other in writing: