Common use of Purchase of Shipper Installed Asset Clause in Contracts

Purchase of Shipper Installed Asset. At any time within three (3) years after the initial flow of Gas (the “Initial Flow Date”) on the Shipper, Installed Asset, Gatherer will have the option to purchase the Shipper Installed Asset for a purchase price equal to the total capital cost paid by Shipper for the construction of such Shipper Installed Asset plus simple interest on the amounts paid at the per annum rate equal to twelve percent (12%) from the Initial Flow Date through the date of purchase. All interest will be computed for the actual number of Days elapsed at a per diem charge based on a year consisting of three hundred sixty-five (365) Days.

Purchase of Shipper Installed Asset. At any time within three two (32) years after the initial flow of Gas (the “Initial Flow Date”) on the Shipper, Shipper Installed Asset, Gatherer will have the option to purchase the Shipper Installed Asset for a purchase price equal to the total capital cost paid by Shipper for the construction of such Shipper Installed Asset plus simple interest on the amounts paid at the per annum rate equal to twelve fifteen percent (1215%) from the Initial Flow Date through the date of purchase. All interest will be computed for the actual number of Days elapsed at a per diem charge based on a year consisting of three hundred sixty-five (365) Days.