Canyon Creek Compression Company

Third Revised Volume No. 1

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Effective Date: 12/01/1993, Docket: RS92- 57-003, Status: Effective

Original Sheet No. 185 Original Sheet No. 185 : Effective

 

GENERAL TERMS AND CONDITIONS

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27. SUCCESSORS AND ASSIGNS

 

Any company which shall succeed by purchase, merger or

consolidation to the properties, substantially as an entirety, of

Shipper or Canyon shall be entitled to the rights and shall be

subject to the obligations of its predecessor in title under the

Agreement; provided, however, that Canyon reserves the right to

evaluate and approve the creditworthiness of the new entity in

accordance with the Evaluation of Credit section of these General

Terms and Conditions. Except as provided in Section 2 of these

General Terms and Conditions, no other assignment of an Agreement or

any of the rights or obligations thereunder shall be made by Shipper

unless there first shall have been obtained the written consent

thereto of Canyon. Shipper or Canyon may pledge or assign their

respective right, title and interest in and to and under the

Agreement to a trustee or trustees, individual or corporate, as

security for bonds or other obligations or securities without the

necessity of such trustee or trustees becoming in any respect

obligated to perform the obligations of the assignor under the

Agreement and, if any such trustee be a corporation, without its

being required to qualify to do business in any State in which

performance of the Agreement may occur.