Garden Banks Gas Pipeline, LLC
Original Volume No. 1
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Effective Date: 05/10/2010, Docket: RP10-594-000, Status: Effective
Original Sheet No. 143 Original Sheet No. 143
GENERAL TERMS AND CONDITIONS
35. SUCCESSORS AND ASSIGNS
Any company which shall succeed by purchase, merger or
consolidation to the properties, substantially as an entirety, of
Shipper or Transporter shall be entitled to the rights and shall
be subject to the obligations of its predecessor in title under
the Transportation Service Agreement ("Agreement"); provided,
however, that Transporter reserves the right to evaluate and
approve the creditworthiness of the new entity in accordance with
the Creditworthiness section of these General Terms and
Conditions. Except as provided in Section 9 of Rate Schedule FT-2
and in Section 15 of the FT-2 Transportation Service Agreement, no
other assignment of an Agreement or any of the rights or
obligations thereunder shall be made by Shipper unless there first
shall have been obtained the written consent thereto of
Transporter. Shipper or Transporter may pledge or assign their
respective right, title and interest in and to and under the
Agreement to a trustee or trustees, individual or corporate, as
security for bonds or other obligations or securities without the
necessity of such trustee or trustees becoming in any respect
obligated to perform the obligations of the assignor under the
Agreement and, if any such trustee be a corporation, without its
being required to qualify to do business in any State in which
performance of the Agreement may occur.