Texas Eastern Transmission, L P

Seventh Revised Volume No. 1

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Effective Date: 12/31/9999, Docket: RP09-1088-000, Status: Accepted

Original Sheet No. 1096 Original Sheet No. 1096

 

3. Credit support in an amount to be determined pursuant to Pipeline's FERC Gas Tariff for

the total contract quantity under the Service Agreement shall be provided to Pipeline

prior to the effective date of such Service Agreement or of any amendment thereto which

increases the contract entitlements. The collateral must be provided by any one or a

combination of the Principals (which entity or entities providing such collateral may

change during the term of the Service Agreement) and will be adjusted in the event of an

amendment to the Service Agreement that results in an increase or decrease in the required

credit support.

 

4. Each Principal acknowledges and agrees that it is a Principal under the Service Agreement

that includes multiple Principals and that Pipeline is entitled to rely solely on the

Administrator's representation regarding the allocation of rights and obligations among

the Principals under the Service Agreement, even if the representation is inconsistent

with the position of one or more of the Principals. Each Principal releases Pipeline from

any and all claims, disputes, liability or causes of action it may have arising out of or

related to such relationship, Pipeline needing only to look to Administrator for all

purposes under the Service Agreement.

 

5. This MSOA may not be assigned. This MSOA shall remain in effect for so long as the

Service Agreement is in effect, including any amendments thereto; provided that the

provisions of Section 1(d) and 1(f) shall survive termination of this MSOA; and, provided

further, that in the event a Service Agreement using this MSOA has not been executed by

Administrator within six months of the Effective Date, this MSOA shall automatically

terminate and have no further force and effect.

 

6. A Principal, who is not the Administrator, may be removed from or added to this MSOA

through an amendment executed by such Principal, the remaining Principals, any new

Principal and the Administrator, the execution of which may not be unreasonably withheld,

delayed, or conditioned. No such amendment to the MSOA shall be binding on Pipeline until

the amended MSOA is executed by such Principal, the Administrator and the remaining

Principals along with any new Principal and in the event such change in Principals impacts

the credit support required by Paragraph 3 above, such requirements have been satisfied.

In the event the MSOA is amended to remove a Principal ("Removed Principal"), the MSOA

shall terminate as to any Removed Principal upon the effective date of an amended MSOA as

set forth hereinabove; provided however, such Removed Principal shall remain liable for

any obligations, claims or liability under the Service Agreement regardless of when

brought, the event giving rise to which occurred prior the effective date of such

replacement MSOA.

 

7. This MSOA may be executed in multiple counterparts and, when each Party has executed and

delivered a counterpart, all counterparts together shall constitute one agreement.

 

IN WITNESS WHEREOF the Parties hereto have executed and delivered this MSOA as of the date

first above written.

 

Pipeline Principal

 

By: By:

 

Name: Name:

 

Date: _________________________ Date: _____________________________ _

 

 

Principal Acceptance by Administrator

 

By: By:

 

Name: Name:

 

Date: ___ Date: _____________________________

 

 

[add additional signature lines for Principals and/or Removed Principals, when applicable, as

necessary]