MidContinent Express Pipeline LLC
Original Volume No. 1
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Effective Date: 04/10/2009, Docket: RP09-136-000, Status: Effective
Original Sheet No. 250 Original Sheet No. 250
GENERAL TERMS AND CONDITIONS
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25. SUCCESSORS AND ASSIGNS
Any company which shall succeed by purchase, merger or
consolidation to the properties, substantially as an entirety, of
Shipper or MEP shall be entitled to the rights and shall be subject
to the obligations of its predecessor in title under any Agreement;
provided, however, that MEP 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.
No other assignment of an Agreement of any of the rights or
obligations thereunder shall be made by Shipper unless there first
shall have been obtained the written consent thereto of MEP, which
consent shall not be unreasonably withheld. Any assignment shall not
be accepted if inconsistent with Commission policy regarding capacity
release. Shipper or MEP 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.