Common use of Redetermination Clause in Contracts

Redetermination. Beginning no later than 24 months prior to the 7th anniversary of the Effective Date, the Parties shall enter into good-faith discussions to determine the monthly rental rates for all Equipment then leased by Gatherer hereunder and for the Equipment then listed on Schedule 3. Such monthly rental rates shall be redetermined to equal the market rates then being charged by third parties to lease the same or similar equipment and services in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon AMI, as the case may be, in arms-length transactions, without considering the costs to transport the Equipment to the installation site and to install and remove the Equipment. Proposals or bids received by Gatherer from non-Affiliated parties to lease the same or similar equipment in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon AMI shall be indicative of market rental rates and services. Upon reaching agreement on the redetermined monthly rental rates, the Parties shall amend the Schedules to this Agreement to include such redetermined monthly rental rates. Such redetermined monthly rental rates shall remain in effect for the remaining term of this Agreement and shall be escalated by the increase in the CPI-U over the most recent 12-month period (for which data is available) beginning on the 8th anniversary of the Effective Date and on each anniversary of the Effective Date thereafter. If the Parties fail to reach agreement on redetermined monthly rental rates for any Equipment at least 12 months prior to the 7th anniversary of the Effective Date, Gatherer may, at its option, terminate this Agreement upon 60 days’ prior Notice to CHK Compression, with such termination to be effective on the date specified in such termination Notice but no earlier than the 7th anniversary of the Effective Date.

Redetermination. Beginning no later than 24 12 months prior to the 7th anniversary of the Effective Date, the Parties shall enter into good-faith discussions to determine the monthly rental rates Monthly Base Rates for all Equipment then leased by Gatherer hereunder subject to this Agreement and for the Equipment then listed on Schedule 3. Such monthly rental rates Monthly Base Rates shall be redetermined to equal the market rates then being charged by third parties to lease the same or otherwise provide similar equipment and services in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon AMIArea of Exclusivity, as the case may be, in arms-length transactions, without considering the costs to transport the Equipment to the installation site and to install and remove the Equipment. Proposals or bids received by Gatherer CMO from non-Affiliated parties to lease the same or otherwise provide similar equipment and services in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon AMI Area of Exclusivity shall be indicative of market rental rates and servicesrates. Upon reaching agreement on the redetermined monthly rental ratesMonthly Base Rates, the Parties shall amend the Schedules to this Agreement to include such redetermined monthly rental ratesMonthly Base Rates. Such redetermined monthly rental rates Monthly Base Rates shall remain in effect for until the remaining term 10th anniversary of this Agreement and shall be escalated by the increase in the CPI-U over the most recent 12-month period (for which data is available) beginning on the 8th anniversary of the Effective Date and on each anniversary of the Effective Date thereafterAgreement. If the Parties fail to reach agreement on redetermined monthly rental rates Monthly Base Rates for any Equipment at least 12 6 months prior to the 7th anniversary of the Effective Date, Gatherer may, at its option, terminate the Monthly Base Rates specified on the Schedules shall remain in effect until the 10th anniversary for all Equipment subject to this Agreement upon 60 days’ prior Notice and shall be escalated pursuant to CHK Compression, with such termination to be effective on the date specified in such termination Notice but no earlier than the 7th anniversary of the Effective DateSection 3.9.

Redetermination. Beginning no later than 24 months prior to the 7th anniversary of the Effective Date, the Parties shall enter into good-faith discussions to determine the monthly rental rates for all Equipment then leased by Gatherer MLP OpCo hereunder and for the Equipment then listed on Schedule 3. Such monthly rental rates shall be redetermined to equal the market rates then being charged by third parties to lease the same or similar equipment and services in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon Gathering Agreement AMI, as the case may be, in arms-length transactions, without considering the costs to transport the Equipment to the installation site and to install and remove the Equipment. Proposals or bids received by Gatherer MLP OpCo from non-Affiliated parties to lease the same or similar equipment in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon Gathering Agreement AMI shall be indicative of market rental rates and services. Upon reaching agreement on the redetermined monthly rental rates, the Parties shall amend the Schedules to this Agreement to include such redetermined monthly rental rates. Such redetermined monthly rental rates shall remain in effect for the remaining term of this Agreement and shall be escalated by the increase in the CPI-U over the most recent 12-month period (for which data is available) beginning on the 8th anniversary of the Effective Date and on each anniversary of the Effective Date thereafter. If the Parties fail to reach agreement on redetermined monthly rental rates for any Equipment at least 12 months prior to the 7th anniversary of the Effective Date, Gatherer MLP OpCo may, at its option, terminate this Agreement upon 60 days’ prior Notice to CHK Compression, with such termination to be effective on the date specified in such termination Notice but no earlier than the 7th anniversary of the Effective Date.

Redetermination. Beginning no later than 24 months prior to the 7th anniversary of the Effective Date, the Parties shall enter into good-faith discussions to determine the monthly rental rates for all Equipment then leased by Gatherer hereunder subject to this Agreement and for the Equipment then listed on Schedule 3. Such monthly rental rates shall be redetermined to equal the market rates then being charged by third parties to lease the same or similar equipment and services in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon Gathering Agreement AMI, as the case may be, in arms-length transactions, without considering the costs to transport the Equipment to the installation site and to install and remove the Equipment. Proposals or bids received by Gatherer MLP OpCo from non-Affiliated parties to lease the same or otherwise provide similar equipment in the ▇▇▇▇▇▇▇ ▇▇▇ or Midcon Gathering Agreement AMI shall be indicative of market rental rates and services. Upon reaching agreement on the redetermined monthly rental rates, the Parties shall amend the Schedules to this Agreement to include such redetermined monthly rental rates. Such redetermined monthly rental rates shall remain in effect for the remaining term of this Agreement and shall be escalated by the increase in the CPI-U over the most recent 12-month period (for which data is available) beginning on the 8th anniversary of the Effective Date and on each anniversary of the Effective Date thereafter. If the Parties fail to reach agreement on redetermined monthly rental rates for any Equipment at least 12 months prior to the 7th anniversary of the Effective Date, Gatherer MLP OpCo may, at its option, terminate this Agreement upon 60 days’ prior Notice to CHK Compression, with such termination to be effective on the date specified in such termination Notice but no earlier than the 7th anniversary of the Effective Date.