Garden Banks Gas Pipeline, LLC
Original Volume No. 1
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Effective Date: 05/10/2010, Docket: RP10-594-000, Status: Effective
First Revised Sheet No. 284 First Revised Sheet No. 284
Superseding: Original Sheet No. 284
FORM OF RESERVE COMMITMENT AGREEMENT
THIS RESERVE COMMITMENT AGREEMENT (Agreement) is made and entered into
as of the _____ day of ___________, _____, by and between GARDEN BANKS GAS
PIPELINE, LLC, a Delaware limited liability company, hereinafter referred to
as "Transporter" and __________________, a ________________ corporation,
hereinafter referred to as "Shipper." Transporter and Shipper shall
collectively be referred to herein as the "Parties".
1.1 COMMITTED BLOCKS(S) - shall mean those Outer Continental Shelf
("OCS") blocks set forth on Exhibit "A" hereto.
1.2 Capitalized terms not defined herein shall have the meaning
ascribed thereto in Transporter's FERC Gas Tariff.
2.1 Subject to the provisions of Sections 2.3, 2.4 and 2.5 of this
Agreement, Shipper hereby agrees to deliver into and transport
through Transporter's Facility all natural gas produced by or for
the account of Shipper from the Committed Block(s) for the
economic life of the Committed Block(s).
2.2 In the event Shipper should transfer or assign any or all of its
rights, title and/or interest in the Committed Block(s), Shipper
agrees that any such transfer or assignment will be made subject
to the terms of this Agreement, it being the intent of the parties
hereto that the Committed Block(s) remain dedicated for purposes
of transportation to Transporter's Facility for the economic life
of the Committed Block(s). All of the provisions of this
Agreement shall be applicable to assignees of Shipper's interests
in the Committed Block(s) and such assignees shall receive a
proportionate assignment of the rights and obligations hereunder
with respect to the Committed Block(s) so assigned, to the extent
that such assignee satisfies the requirements of Section 6.3 of
Rate Schedules FT-1, FT-2 or IT-1, as applicable. Upon such
assignment, Shipper shall be relieved of its obligations under
this Agreement to the extent, and only to the extent, so assigned
to a third party.