MarkWest Pioneer, L.L.C.

Original Volume No. 1

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Effective Date: 04/01/2009, Docket: RP09-321-000, Status: Effective

Original Sheet No. 104 Original Sheet No. 104

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

29. DEFAULTS AND REMEDIES

 

29.1. Events of Default – An “Event of Default” shall mean, with respect to

Shipper or Transporter, the occurrence of any of the following:

 

a) Any representation or warranty made in the FT or IT Agreement by

Shipper or Transporter that proves to be false or misleading in any

material respect;

 

b) The failure of Shipper or Transporter to perform any covenant set

forth in a FT or IT Agreement, where such failure is not excused by

Force Majeure and is not cured within thirty (30) Business Days

after written notice thereof to the other party; or

 

c) Shipper or Transporter shall be subject to a Bankruptcy Event with

“Bankruptcy Event” meaning, with respect to either Shipper or

Transporter, that such party (i) is dissolved (other than pursuant

to a consolidation, amalgamation or merger),(ii) makes an assignment

or any general arrangement for the benefit of creditors, (iii)

institutes or has instituted against it a proceeding seeking a

judgment of insolvency or bankruptcy or any other relief under any

bankruptcy or insolvency or other law affecting creditors’ rights

and, in the case of any such proceeding or petition instituted or

presented against it, such proceeding or petition (A) results in a

judgment or insolvency of bankruptcy or the entry of an order for

its wind-up or liquidation or (B) is not withdrawn, dismissed or

discharged with thirty (30) days after the institution or

presentation thereof, (iv) otherwise becomes bankrupt or insolvent

(however evidenced), (v) has a secured party take possession of all

or substantially all of its assets or has an action or proceeding

taken or levied against all or substantially all of its assets and

such secured party maintains possession, or any such action or

proceeding is not dismissed, in either case within thirty (30) days

thereafter, or (vi) is unable to pay its debts or admits in writing

its inability generally to pay its debts as they fall due.)