Freebird Gas Storage, L.L.C.
First Revised Volume No. 1
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Effective Date: 10/01/2008, Docket: RP08-304-000, Status: Effective
Original Sheet No. 153 Original Sheet No. 153 : Suspended
obligations that exceed the proceeds of such liquidation,
including interest thereon, and Freebird shall be entitled to pursue all other
remedies available to it at law or in equity to secure the satisfaction of
such obligations.
23.9 No Waiver of Other Rights. Each Party’s rights under this Section 23 are
in addition to, and not in limitation or exclusion of, any and all other
rights that a Party may have (whether by agreement, operation of law, or
otherwise).
24. SHIPPER TERMINATION OPTION
Shipper shall have the right, subject to the terms of this Section 24, at any
time and from time to time to terminate one or more Hub Service Agreements
then outstanding (each, a "Designated Service Agreement") by providing written
notice to Freebird and establishing an early termination date, which date
shall be the first Day of the Month immediately following delivery of such
written notice (the "Shipper Early Termination Date"). Shipper’s right to
terminate a Designated Service Agreement is conditioned on the following: (1)
the "Beginning Date of Service" under the Designated Service Agreement having
not yet occurred, and (2) Freebird and Shipper agreeing to the terms of a
settlement payment ("Settlement Payment") for such Designated Service
Agreement that results in Freebird being financially indifferent to the
termination of such Service Agreement, as determined by Freebird in its sole
but reasonable discretion (with "financially indifferent" meaning to preserve
for Freebird the economic equivalent of any payment, delivery, or service
under the Designated Service Agreement that would, but for the occurrence of
the early termination, have been required of the Parties after the early
termination). In addition to the Settlement Payment, Shipper shall owe to
Freebird a surcharge equal to $0.05 per Dth of MSQ, MPQ, or MLQ, as
applicable, in respect of the Designated Service Agreement, to defer the costs
of Freebird’s administration and execution risk associated with the
termination and re-trading of the service agreement ("Surcharge"). If Shipper
designates a Shipper Early Termination Date and all conditions stated above
are met, each Designated Service Agreement shall be terminated as of the
Shipper Early Termination Date. If Shipper desires to terminate one or more
Designated Service Agreements on the same Shipper Early Termination Date,
Settlement Payments may be netted or aggregated, as appropriate, to a single
final amount payable by one Party to the other Party (the "Final Settlement
Payment"), and the Surcharge may also be netted or aggregated, as appropriate,
into, and become part of, the Final Settlement Payment. Freebird shall
deliver to Shipper a statement indicating the Final Settlement Payment,
together with supporting calculations, and the Party owing such Final
Settlement Payment shall pay such amount before 5 p.m. CCT on the second
(2nd) Business Day following the delivery of such statement to Shipper.
25. POLICY WITH RESPECT TO FEES AND CONSTRUCTION OF NEW FACILITIES
25.1 Except as provided in Section 25.2 herein, Shipper shall reimburse
Freebird: (a) for the costs of any facilities installed by Freebird at
Shipper’s request to receive, measure, store or deliver Gas for Shipper’s
account; and (b) for any and all filing costs and approval fees required in
connection with Shipper’s Service Agreement that Freebird is obligated to pay
to the Commission or any other governmental authority having jurisdiction.
Any reimbursement due Freebird by Shipper pursuant to this Section 25.1 shall
be due and payable to Freebird within ten (10) days of receipt by Shipper of
Freebird’s bill(s) for same; provided, however, subject to Freebird’s consent,
such reimbursement, plus carrying charges thereon, may