Common use of Xxxxx Hub Cash Bonus Clause in Contracts

Xxxxx Hub Cash Bonus. Subject to Section 1.2 of this Exhibit J, during each Calendar Quarter beginning with the first Day of the Calendar Quarter in which the MVP In-Service Date occurs (the “Cash Bonus Trigger Date”) and continuing until the earlier of the last Day of (a) the twelfth (12th) Calendar Quarter following the Cash Bonus Trigger Date and (b) the Calendar Quarter ending December 31, 2024, Producer shall pay to Gatherer a quarterly cash payment (the “Cash Bonus”), if any, as follows: (a) During the first four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “First Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Calendar Quarter, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.70 per Dth. (b) During the second four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “Second Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Calendar Quarter, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.70 per Dth. (c) During the third four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “Third Cash Bonus Period,” and together with the First Cash Bonus Period and the Second Cash Bonus Period, the “Cash Bonus Periods” and each individually a “Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Month, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each Natural Gas – Xxxxx Hub – NYMEX closing settlement price for the First Nearby Month Future Contract corresponding to the relevant Calculation Period during such Calendar Quarter exceeds $2.70 per Dth.

Xxxxx Hub Cash Bonus. Subject to Section 1.2 of this Exhibit JS, during each Calendar Quarter beginning with the first Day of the Calendar Quarter in which the MVP In-In- Service Date occurs (the “Cash Bonus Trigger Date”) and continuing until the earlier of the last Day of (a) the twelfth (12th) Calendar Quarter following the Cash Bonus Trigger Date and (b) the Calendar Quarter ending December 31, 2024, Producer shall pay to Gatherer a quarterly cash payment (the “Cash Bonus”), if any, as follows: (a) During the first four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “First Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Calendar Quarter, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.70 per Dth. (b) During the second four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “Second Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Calendar Quarter, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.70 per Dth. (c) During the third four (4) Calendar Quarters following the Cash Bonus Trigger Date (the “Third Cash Bonus Period,” and together with the First Cash Bonus Period and the Second Cash Bonus Period, the “Cash Bonus Periods” and each individually a “Cash Bonus Period”), (i) for each such Calendar Quarter that ends prior to January 1, 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.50 per Dth, and (ii) for each such Month, if any, in 2024, the Cash Bonus shall equal (A) the product of (x) the Minimum Volume Commitment applicable as of the last Day of such Calendar Quarter and (y) the number of Days in such Calendar Quarter, multiplied by (B) 15% of every $0.01 by which the average of each NYMEX Xxxxx Hub Natural Gas – Xxxxx Hub – NYMEX closing settlement price for First of the First Nearby Month Future Contract corresponding to the relevant Calculation Period Closing Index Price during such Calendar Quarter exceeds $2.70 per Dth.