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.