Rollover Contract Law and Legal Definition

According to 15 USCS § 3301 [Title 15. Commerce and Trade; Chapter 60. Natural Gas Policy], the term "rollover contract" means “any contract, entered into on or after the date of the enactment of this Act [enacted Nov. 9, 1978], for the first sale of natural gas that was previously subject to an existing contract which expired at the end of a fixed term (not including any extension thereof taking effect on or after such date of enactment) specified by the provisions of such existing contract, as such contract was in effect on the date of the enactment of this Act [enacted Nov. 9, 1978], whether or not there is an identity of parties or terms with those of such existing contract.”