Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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Effective Date: 06/30/2004, Docket: RP04-321-000, Status: Effective

Original Sheet No. 329 Original Sheet No. 329 : Effective

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

 

21. TERMINATION FOR DEFAULT

 

If either Panhandle or Shipper shall fail to perform any of the

covenants or obligations imposed upon it or them under and by virtue

of a Service Agreement hereunder, which obligations have not been

suspended pursuant to Section 20 herein, then in such event the other

party may at its option terminate such Service Agreement by

proceeding as follows: The party not in default shall cause a

written notice to be served on the party in default stating

specifically the cause for terminating the Service Agreement and

declaring it to be the intention of the party giving the notice to

terminate the same; thereupon the party in default shall have 30 Days

after the service of the aforesaid notice in which to remedy or

remove the cause or causes stated in the notice for terminating the

agreement, and if within said period of 30 Days the party in default

does so remove and remedy said cause or causes and fully indemnify

the party not in default for any and all consequences of such breach,

by a good and sufficient indemnity bond or otherwise, then such

notice shall be withdrawn and the Service Agreement shall continue in

full force and effect. In case the party in default does not so

remedy and remove the cause or causes or does not so indemnify the

party giving the notice for any and all consequences of such breach,

within said period of 30 Days, then, after any necessary

authorization by regulatory bodies having jurisdiction, the Service

Agreement shall become null and void from and after the expiration of

said period, provided that notice of termination has not been

withdrawn prior thereto. Any cancellation of such Service Agreement

pursuant to the provisions of this paragraph shall be without

prejudice to the right of Panhandle to collect any amounts then due

to it prior to the time of cancellation, and shall be without

prejudice to the obligation of Panhandle and Shipper to balance

receipts and deliveries of Gas pursuant to the Service Agreement, and

without waiver of any remedy to which the party not in default may be

entitled for violations of such Service Agreement.