PetroLogistics Natural Gas Storage LLC
Original Volume No. 1
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Effective Date: 06/03/2009, Docket: RP09-577-000, Status: Effective
Original Sheet No. 139 Original Sheet No. 139
the other in the performance of any provision of the Service Agreement between Shipper and PetroLogistics
shall operate or be construed as a waiver of any future default or defaults, whether of a like or of a
different character.
22. MODIFICATION
22.1 No modification to the terms and provisions of any Service Agreement of exhibit thereto shall
be or become effective except by the execution of a superseding Service Agreement or exhibit thereto.
23. SUCCESSORS IN INTEREST
23.1 Any company that succeeds by purchase, merger, consolidation or otherwise to the properties
substantially as an entirety, of PetroLogistics or of Shipper, used or intended to be used for rendering
gas services authorized by the Commission, shall be entitled to the rights and shall be subject to the
obligations of its predecessors in title under a Service Agreement. In accordance with the capacity release
procedures set forth in Section 8 of the General Terms and Conditions, Shipper may, without relieving itself
of its obligations under such agreement, assign any of its rights and obligations thereunder to another
shipper, but otherwise no assignment of such agreement, or of any of the rights or obligations thereunder
shall be made unless there first shall have been obtained the consent thereto of PetroLogistics, in the event
of any assignment by Shipper, or the consent thereto of Shipper, in the event of an assignment by
PetroLogistics. Notwithstanding the foregoing, Shipper may, upon notice to PetroLogistics but without the
need for PetroLogistics' consent, assign all or part of its right, interest and obligations under this
Agreement to any wholly-owned affiliate(s) of Shipper that has a credit rating equal to or higher than
Shipper's but in no event lower than the Minimum Acceptable Credit Rating (or that has been provided a
guarantee in PetroLogistics' favor from an affiliated entity with such a rating). In the event of a sale
of a generating unit or units at any of Shipper's generating facilities which are supplied gas from
PetroLogistics' storage facilities, Shipper may, upon notice to PetroLogistics but without the need for
PetroLogistic' consent, assign all or part of its right, interest and obligations under this Agreement
(except for the assignment rights under this Section 23) to any third party (or parties) that: (i) has a
credit rating equal to or better than the Minimum Acceptable Credit Rating, and (ii) purchases said generating
unit or units. No assignment by Shipper pursuant to this Section 23 shall relieve Shipper of its obligations
under a Service Agreement unless such release is specifically granted by PetroLogistics. In the event there
is a request for a permanent release of Shipper's obligations, PetroLogistics will agree to discharge
Shipper of liability, on a prospective basis, in whole or in part, provided the assignee Shipper meets the
minimum acceptable credit standard set forth in Section 2.3(b)(1) of these General Terms and Conditions.
If Shipper's request for a permanent release from liability is denied by PetroLogistics, PetroLogistics shall
notify Shipper via e-mail and shall include in the notification the reasons for such denial. These
restrictions on assignment shall not in any way prevent any Party from pledging or mortgaging its rights under
a Service Agreement as security for its indebtedness.
24. DEFAULT
24.1 Termination. If either PetroLogistics or Shipper shall fail to perform any of the covenants
or obligations imposed upon it or them under and by virtue of this Tariff or any effective Service Agreement
except due to causes excused by Force Majeure, then the other party may at its option terminate such agreement
by proceeding as follows. The party not in default shall provide written notice to the party in default stating
specifically the cause for terminating the 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 thirty (30) days after receipt of
such notice to remedy or remove the cause or causes stated in the notice, and if within the thirty (30) day
period the party in default does so remove and remedy said cause or causes and fully indemnifies 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 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 the thirty (30) day period, then, after any
necessary authorization by regulatory bodies having jurisdiction, the agreement shall become void at the
expiration of said period, provided that notice of termination has not been withdrawn prior thereto. Any
cancellation of such agreement pursuant to the provisions of this Section shall be without prejudice to
the right of PetroLogistics to collect any amounts then due to it for the provision of any natural gas service
prior to the time of cancellation, and shall be without prejudice to the right of Shipper to receive any
service for which it has paid but has not received, although