Petal Gas Storage, L. L. C.
Original Volume No. 1
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Effective Date: 07/25/2008, Docket: RP08-421-000, Status: Effective
Original Sheet No. 239 Original Sheet No. 239
FORM OF MASTER SERVICE AGREEMENT FOR
CAPACITY RELEASE TRANSACTION (Continued)
ARTICLE XI - 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
may be conditioned on the approval of Petal's lenders, as reasonably determined by Petal.
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 with out 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.
ARTICLE XII - MISCELLANEOUS
1. No change, modification or alteration of this Agreement shall be or become
effective until executed in writing by the parties hereto, and no course of
dealing between the parties shall be construed to alter the terms and conditions
hereof, except as expressly stated herein.
2. No waiver by any party of any one or more defaults by the other in the performance
of any provisions of the Agreement shall operate or be construed as a waiver of
any other default or defaults, whether of a like or of a different character.
3. Petal and Customer shall proceed with due diligence to obtain such governmental
and other regulatory authorizations as may be required for the rendition of the
Services contemplated herein, provided that Petal reserves the right to file and
prosecute applications for such authorizations, any supplements or amendments
thereto and, if necessary, any court review, in such manner as it deems to be in
its best interest, including the right to withdraw the applications or to file
pleadings and motions (including motions for dismissal).
4. This Agreement and the respective obligations of the parties hereunder are subject
to all present and future valid laws, orders, rules, and regulations of
constituted authorities having jurisdiction over the parties. Neither party shall
be held in default for failure to perform hereunder if such failure is due to
compliance with laws, orders, rules of regulations of any such duly constituted