Central New York Oil And Gas Company, LLC

Original Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 12/01/2001, Docket: CP00- 61-001, Status: Effective

Original Sheet No. 101 Original Sheet No. 101 : Effective

 

GENERAL TERMS AND CONDITIONS (continued)

 

11.4 Assignments. Any company which shall succeed

by purchase, merger or consolidation to the

properties, substantially as an entirety, of

Customer or of Seller, as the case may be, shall

if eligible be entitled to the rights and shall be

subject to the obligations of its predecessor in

title under the Agreement(s) between Seller and

Customer. Either Seller or Customer may assign

any of its rights or obligations under its

Agreement(s) to a financially responsible

corporation with which it is affiliated at the

time of such assignment. Furthermore, Seller may,

as security for its indebtedness, assign, mortgage

or pledge any of its rights or obligations under

its Agreement(s), including its rights to receive

payments, to any other entity, and Customer will

execute any consent agreement with such entity and

provide such certificates and other documents as

Seller may reasonably request in connection with

any such assignment. Customer also may assign or

pledge its Agreement(s) under the provisions of

any mortgage, deed of trust, indenture or similar

instrument which it has executed or may hereafter

execute covering substantially all of its

properties. Otherwise, except as provided in

Section 7 of Rate Schedule FSS, or except as

mandated by Section 284.242 of the Regulations of

the Commission, neither party shall assign its

Agreement(s) or any of its rights thereunder

unless it first shall have obtained the consent

thereto in writing of the other party.

 

11.5 Creditworthiness. Seller shall not be

required to commence service or, subject to the

following provisions, to continue to provide

service and may terminate an Agreement with any

Customer under Rate Schedule FSS with a primary

term of one year or less and Service Agreements

under Rate Schedule ISS, if:

 

(a) Customer is or has become insolvent;

 

(b) Customer has applied for bankruptcy

under Chapter 11 of the Bankruptcy Code, or

which is subject to similar proceedings under

State of Federal law; or

 

(c) Customer, when requested by Seller

to demonstrate creditworthiness, fails to do

so in Seller's reasonable judgement, in light

of previous payment experience and changes

thereto and the prudent credit analysis of

information available; provided, however,

that any such Customer that is receiving

service shall continue to receive service for

a period of fifteen (15) days after written

notice by Seller of any such circumstance,

and shall continue thereafter to receive

service if, within such fifteen (15) day

notice period, such Customer: