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LSDefine

Simple English definitions for legal terms

market-out clause

Read a random definition: anticontest clause

A quick definition of market-out clause:

A market-out clause is a part of a contract in the oil and gas industry that allows the buyer of natural gas to reduce the purchase price if market conditions make it too expensive to continue buying at the agreed-upon price. The seller can then choose to accept the lower price or cancel the contract altogether. This clause often refers to competing fuels like fuel oil and is also known as an economic-out clause.

A more thorough explanation:

A market-out clause is a provision in a contract that allows a buyer to lower the purchase price of a product if market conditions make it too expensive to continue buying at the agreed-upon price. This clause is commonly used in the oil and gas industry, where the price of natural gas can fluctuate greatly depending on market conditions.

For example, let's say a pipeline company agrees to purchase natural gas from a well owner at a fixed price for a certain period of time. However, if the price of natural gas drops significantly due to increased supply or decreased demand, the pipeline company may activate the market-out clause and request a lower price. The well owner can then choose to accept the lower price or cancel the contract altogether.

Market-out clauses can also refer to competing fuels, such as fuel oil. In this case, if the price of fuel oil drops significantly, the pipeline company may activate the market-out clause and request a lower price for natural gas.

Overall, market-out clauses provide flexibility for both buyers and sellers in volatile markets, allowing them to adjust prices to reflect changing market conditions.

market order | market overt

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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