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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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shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
shaquilleoatmeal
17:43
went to eat - did anyone guess the bowl lmao
shaquilleoatmeal
17:43
ooo yall were too busy with that kendrick shit
shaquilleoatmeal
17:45
put me on - whats the first song on the album thats heat
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