Common use of Acknowledgement of Standards Clause in Contracts

Acknowledgement of Standards. Each of the Parties acknowledges and agrees that the NAESB develops and promotes standards for business practices and electronic communication of gas transactions, with a view to simplifying the management of gas across the entire North American pipeline grid.

Acknowledgement of Standards. Each of the Parties acknowledges and agrees that the NAESB North American Energy Standards Board (“NAESB”) develops and promotes standards for business practices and electronic communication of gas Gas transactions, with a view to simplifying the management of gas Gas across the entire North American pipeline grid.