first sale
Defined in 1 place of the United States Code.
The term “first sale” means any sale of any volume of natural gas—
(i) to any interstate pipeline or intrastate pipeline;
(ii) to any local distribution company;
(iii) to any person for use by such person;
(iv) which precedes any sale described in clauses (i), (ii), or (iii); and
(v) which precedes or follows any sale described in clauses (i), (ii), (iii), or (iv) and is defined by the Commission as a first sale in order to prevent circumvention of any maximum lawful price established under this chapter.
Source
- 1994–present15 U.S.C. § 3301Commerce and Trade · Definitions · for purposes of this chapter