Contract Balancing Sample Clauses
The CONTRACT BALANCING clause is designed to ensure that the rights and obligations of both parties in an agreement remain fair and proportionate throughout the contract's duration. Typically, this clause allows for adjustments to terms such as pricing, deliverables, or timelines if significant changes occur in circumstances, regulations, or market conditions. By providing a mechanism for renegotiation or modification, the clause helps prevent one party from being unfairly disadvantaged, thereby maintaining contractual equilibrium and reducing the risk of disputes.
Contract Balancing. In the event there is an imbalance, in terms of MMBtu, caused by differences in receipts and deliveries of Gas hereunder, Houston shall notify Shipper of such imbalance and such imbalance shall be corrected during the Month following notification. If at the end of any full Month following said notification there exists under this agreement a cumulative imbalance which exceeds ten percent (10%) of the total volume delivered hereunder during that Month (“Excess Imbalance”), then Houston shall have the right to invoice Shipper, and if so invoiced Shipper shall pay Houston a Monthly delayed transaction fee (“Imbalance Fee”) equal to twenty-five cents ($0.25) per MMBtu times the Excess Imbalance, stated in terms of MMBtu. Shipper shall not be liable for any Imbalance Fee(s) resulting from Houston's failure to receive or deliver the Scheduled Volume of Gas tendered for delivery, or scheduled for receipt by Shipper.
Contract Balancing