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

法律翻译Akira，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与能源行业争议有关的法律文件。