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Simple English definitions for legal terms

regulatory-out clause

Read a random definition: Lawrence v. Texas

A quick definition of regulatory-out clause:

A regulatory-out clause is a part of a contract that deals with the sale of natural gas. It says that if a government agency doesn't allow the price paid to the producer to be passed on to consumers, then the contract price will be lowered or the contract will be cancelled. This clause is also known as a FERC-out clause.

A more thorough explanation:

A regulatory-out clause, also known as a FERC-out clause in the oil and gas industry, is a provision in a contract 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.

For example, if a natural gas producer enters into a contract to sell their gas at a certain price, but a regulatory agency determines that the price cannot be passed on to consumers, the regulatory-out clause would allow for the contract to be terminated or the price to be reduced accordingly.

This clause is important for both the producer and the buyer, as it provides a safeguard against unforeseen regulatory changes that could impact the profitability of the contract.

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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.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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