market out clause

market-out clause. Oil & gas. A contract provision permitting a pipeline-purchaser of natural gas to lower the purchase price if market conditions make it uneconomical to continue buying at the contract price, and permitting the well owner to respond by accepting the lower price or by rejecting it and canceling the contract. • Market-out clauses often refer to competing fuels such as fuel oil. — Also termed economic-out clause. [Cases: Gas 13(1).]

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词条贡献者

译者Lorna，毕业于国内一流的法学院，擅长翻译各种与商业秘密相关的法律文件。