Portland Natural Gas Transmission System
Second Revised Volume No. 1
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Effective Date: 09/01/2006, Docket: RP06-449-000, Status: Effective
Original Sheet No. 574 Original Sheet No. 574 : Effective
ARTICLE VI - NOTICES
Notices to Transporter shall be addressed to:
Portland Natural Gas Transmission System
One Harbour Place
Portsmouth, New Hampshire 03801
Attn: Vice-President - Business Development & Marketing
Notices to Shipper hereunder shall be addressed to:
[Name of Shipper]
[Address]
Either party may change its address under this Article by written notice to
the other party.
ARTICLE VII - TRANSFER AND ASSIGNMENT OF CONTRACT
Any entity, which shall succeed by purchase, merger or consolidation to the
properties, substantially as an entirety, of either Transporter or Shipper, as
the case may be, shall be entitled to the rights and shall be subject to the
obligations of its predecessor in title under the Contract. Any party may,
without relieving itself of its obligations under this Contract, assign any of
its rights hereunder to a creditworthy entity with which it is affiliated, but
otherwise no assignment of this Contract or of any of the rights or
obligations hereunder shall be made unless there first shall have been
obtained the written consent thereto of Shipper in the event of an assignment
by Transporter, or Transporter in the event of an assignment by Shipper, which
consents shall not be unreasonably withheld; provided however that nothing in
this Article VII is intended to abridge Shipper's right to release capacity in
compliance with the provisions of 18 C.F.R. Section 284.8 and the terms and
conditions of Transporter's Tariff. It is further agreed that the restrictions
on assignment contained in this Article VII shall not in any way prevent
either party to this Contract from pledging or mortgaging its rights hereunder
as security for its indebtedness.
Shipper acknowledges that Transporter may make a collateral assignment of this
Contract to financial institutions (collectively, the "Lenders") in connection
with a Financing Agreement and agrees that if the Lenders succeed to the
interest of Transporter by foreclosure or otherwise Shipper shall accord the
Lenders the same rights as Transporter hereunder
In order to facilitate obtaining financing or refinancing for the System,
Shipper shall execute such consents, agreements or similar documents with
respect to a collateral assignment hereof to the Lenders, and any credit
support documents, and shall deliver an opinion of counsel at Shipper's
disbursement on behalf of the Shipper within ten (10) business days and any
provider of credit support, as Lenders may reasonably request in connection
with the documentation of the financing or refinancing with respect to the
System, which consent and opinion shall, among other things, warrant or opine
the enforceability of this Contract.