Common use of Put and call of Options Clause in Contracts

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper (Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is, or is reasonably likely to be, insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper:

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper (( Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is, is or is reasonably likely to be, be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper:

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper (Third Party Access Request) which specifies a start date for the requested service services occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is, is or is reasonably likely to be, be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper:

Put and call of Options. (a) If the Operator receives a duly completed access request form from a shipper or prospective shipper (in the form of a lodged Access Request ( Third Party Access Request) which specifies a start date for the requested service occurring more than 12 months prior to the Shipper’s Capacity End Date, and at the time when the service requested in the Third Party Access Request will be required there is, is or is reasonably likely to be, be insufficient Capacity to meet the requirements of the Third Party Access Request and the Shipper has one or more Options that it has not exercised, then the Operator must give a written notice to the Shipper as soon as practicable after receipt of the access request form from the other shipper: