Honeoye Storage Corporation

Original Volume No. 1A

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Effective Date: 04/01/2003, Docket: RP03-256-000, Status: Effective

First Revised Sheet No. 104 First Revised Sheet No. 104 : Effective

Superseding: Original Sheet No. 104

Seller shall not be required to commence service, or subject to the following

provisions, to continue to provide service and may terminate a Service

Agreement with any Customer under Rate Schedule FSS having a term of more

than one year if Customer, or its guarantor, fails to maintain a long-term debt

rating issued by either Moody's Investors Service, or Standard and Poor's

Corporation, or Customer's, or its guarantor's, long-term debt rating issued by

Moody's Investors Service or Standard and Poor's Corporation falls below a

rating of at least Baa3 according to Moody's Investors Service or BBB- according

to Standard & Poor's Corporation; provided, however, that any such Customer

that is receiving service shall continue to receive service for a period of 30 days

during which Customer shall have the ability to:

 

(1) attain minimum long-term debt ratings as described above; or

 

(2) secure a guarantee by a person with a minimum long-term debt rating as

described above, provided further, if Customer should fail to meet the

requirements set forth within the 30 day period, Seller shall have the right

to market the capacity underlying the Service Agreement(s) in question to

other customers meeting the requirements as set forth herein.

 

11.6 Interpretation of Laws. Any Agreement shall be interpreted, performed and

enforced in accordance with the laws of the State of New York.

 

11.7 Regulations. Any Agreement, and all terms and provisions herein, and the

respective obligations of the parties thereunder are subject to valid laws,

orders, rules and regulations of duly constituted authorities having

jurisdiction.

 

11.8 No Third-Party Beneficiary. It is expressly agreed that there is no Third-Party

Beneficiary to any Agreement, and that the provisions of any Agreement and

these General Terms and Conditions do not impart enforceable rights in anyone

who is not a party or successor or assignee of any party to an Agreement herein.

 

11.9 Liability. Neither Seller nor Customer shall in any event be liable to the other

for incidental, consequential, or indirect damages, whether arising in contract,

or tort.

 

11.10 Counterparts. Any Agreement may be executed in any number of counterparts,

each of which shall be deemed an original, but all of which together shall

constitute but one and the same instrument.