Gas Purchases definition
Examples of Gas Purchases in a sentence
Upon an agreement thereof and affirmative vote thereon by all Allocating Participants, NCPA shall prepare and distribute to each Participant the written agreement between the new Participant and the Allocating Participant(s) indicating the agreed upon change in the Subscription Percentage(s) for the designated Eligible Gas Purchase(s), a counterpart of this Agreement executed by the new Participant, and a report from NCPA’s Deal Capture System reflecting the revised Subscription Percentages.
Prior to subscribing to an Eligible Gas Purchase, a Participant shall deposit into the Security Account held by NCPA on account equal to the highest three (3) months of estimated Commodity Costs for all Eligible Gas Purchases Participant has or will subscribe to as estimated by NCPA; provided, however, that such deposit may be satisfied in whole or in part either in cash or through a clean, irrevocable letter of credit satisfactory to NCPA’s General Manager.
YEAR ENDED DECEMBER 31 1997 1996 1995 1994 1993 Gas Purchases (Billions of Cubic Feet): Market Gas.....................................................
A new Participant shall not be entitled to any Environmental Attributes or Natural Gas from Eligible Gas Purchases consummated prior to the date it becomes a Participant unless one or more of the existing Participants (“Allocating Participants”) elect to allocate a portion of its Subscription Percentage to such new Participant.
A Withdrawing Participant will continue to be liable for all Eligible Gas Purchases entered into on its behalf which is not assumed by an Adjusting Participant.
We recognized approximately $5,000 of pre-tax loss during 2001 as a result of ineffectiveness of these ▇▇▇▇▇▇, which amount is reported within the caption "Gas Purchases and Other Costs of Sales" in the accompanying Consolidated Statement of Income for the year ended December 31, 2001.
Except for the approval by Participants of Eligible Gas Purchases pursuant to Section 3.2, the NCPA Commission has sole overall responsibility and authority for the administration of this Agreement.