Petal Gas Storage, L. L. C.

Original Volume No. 1

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Effective Date: 05/01/2002, Docket: RP02-188-000, Status: Effective

First Revised Sheet No. 205 First Revised Sheet No. 205 : Effective

Superseding: Original Sheet No. 205

 

 

FORM OF INTERRUPTIBLE STORAGE SERVICE AGREEMENT (Continued)

 

 

ARTICLE VI - TERM OF AGREEMENT

 

This Agreement shall be effective ___________, ______, and shall remain in force and

effect for________ (the "Primary Term"). Thereafter, this Agreement shall continue for

successive terms of ___________ each (the "Renewed Term") unless either party gives

______ days written notice to the other party prior to the end of the Primary Term or

any Renewed Term thereafter.

 

 

ARTICLE VII NOMINATIONS

 

Petal shall use its best efforts to accept both verbal and electronic changes in

nominations twenty-four (24) hours per day in order to accommodate Customer's requests

for such changes. Such changes shall be made as soon as Petal can practically make

such changes. Customer shall acknowledge such changes in writing or by telecopy within

four hours of requesting such changes.

 

Petal shall maintain personnel and equipment available to receive and act upon

nomination changes and confirmations twenty-four (24) hours per day, seven (7) days

per week. In the event that Petal fails to obtain confirmation from Customer's

Interconnecting Pipeline of Customer's nomination, Petal shall notify Customer of such

failure as soon as possible.

 

 

ARTICLE VIII - INCORPORATION OF RATE SCHEDULE AND TARIFF PROVISIONS

 

This Agreement shall be subject to the terms and provisions of Petal's Rate Schedule

ISS, as filed with the Federal Energy Regulatory Commission, together with the General

Terms and Conditions applicable thereto (including any changes in said Rate Schedule or

General Terms and Conditions as may from time to time be filed and made effective by

Petal).

 

 

ARTICLE IX - NOTICES

 

Except as otherwise provided in the General Terms and Conditions applicable to this

Agreement, any notice under this Agreement shall be tendered in accordance with Appendix

2 to this Agreement.

 

 

ARTICLE X - TRANSFER AND ASSIGNMENT

 

Any individual or entity which shall succeed by purchase, merger, or consolidation to

the properties, substantially as an entirety, of Petal or Customer, as the case may be,

shall be entitled to the rights and shall be subject to the obligations of its

predecessor in title under this Agreement. No assignment of this Agreement by either

party or any of the rights or obligations hereunder shall be made unless there first

shall have been obtained the consent thereto in writing of the other party, which

consent shall not be unreasonably delayed or withheld. Any release of Customer from its

obligations hereunder shall be conditioned on the approval of Petal's lenders/note

holders.

 

It is agreed, however, that the restrictions on assignment contained in this Article

shall not in any way prevent either party to this Agreement from pledging or mortgaging

its rights hereunder as security for its indebtedness without the written consent of the

other party. This Agreement shall be binding upon and shall inure to the benefit of the

respective authorized successors and assigns.