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