EXHIBIT 10.5
AGREEMENT
AGREEMENT, made this 17th day of May, 2005 by and between Big Apple Energy, LLC,
("BIG APPLE") having its principal place of business at 00 Xxxxx Xxxxxx, Xxxxxxx
X.X. 00000 and U.S. Gas & Electric, Inc. ("USGE") having its principal place of
business at 000 XX 000xx Xxxxxx, Xxxxx Xxxxx Xxxxx, XX 00000.
In consideration of BIG APPLE's efforts to secure a supply agreement with a
wholesale natural gas marketer, as an alternative to the existing financing
agreement that USGE currently has in place (hereinafter the "TRANSACTION"), USGE
agrees to the following:
1.) During the term of the TRANSACTION, BIG APPLE will be USGE's sole
provider of scheduling and nominating services as related to the
transporting of natural gas purchased under the TRANSACTION.
2.) USGE agrees to pay BIG APPLE $0.15 per Decatherm of natural gas
purchased under the TRANSACTION for providing scheduling and
nominating services.
In WITNESS WHEREOF, the parties have caused this Agreement to be executed
and to be effective as of the date below.
Big Apple Energy, LLC U. S. Gas & Electric, Inc.
By: /s/ Xxxxxx Xxxxxxxx By: /s/ Xxxx Xxxxxxxx
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Name: Xxxxxx Xxxxxxxx Name: Xxxx Xxxxxxxx
Title: Managing Member Title: Chairman & CEO
Date: Date:
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