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Simple English definitions for legal terms

FERC-out clause

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A quick definition of FERC-out clause:

A FERC-out clause is a part of a contract for selling natural gas that says if a government agency doesn't let the buyer charge customers enough to cover the cost of the gas, then the contract can be changed or cancelled. This clause is also called a regulatory-out clause.

A more thorough explanation:

A FERC-out clause is a provision in a contract to sell natural gas that allows for the contract to be terminated or the price to be reduced if a regulatory agency does not allow the price paid to the producer to be passed on to consumers. This clause is also known as a regulatory-out clause.

Imagine a natural gas producer enters into a contract to sell their gas to a utility company. The contract includes a FERC-out clause. If the Federal Energy Regulatory Commission (FERC) does not allow the utility company to pass on the price paid to the producer to their customers, the contract will either be terminated or the price will be reduced accordingly.

This clause is important for natural gas producers because it protects them from potential losses if regulatory agencies do not allow for the price of natural gas to be passed on to consumers. It also provides a level of certainty for both parties involved in the contract.

FERC | ferdella terrae

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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