Bobcat Gas Storage

Original Volume No. 1

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Effective Date: 10/15/2008, Docket: RP08-608-000, Status: Effective

Original Sheet No. 119 Original Sheet No. 119

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

24. MISCELLANEOUS (Continued)

 

24.5. Default and Termination

 

(a) Customer shall be in default under this FERC Gas Tariff or

the Storage Service Agreement if:

 

(1) Customer shall fail to pay any sums due to Bobcat

hereunder and such failure continues for a period of

five (5) Business Days after written notice to

Customer by Bobcat;

 

(2) Customer fails to perform any of its material

covenants or obligations under this FERC Gas Tariff or

the Storage Service Agreement, other than obligations

to make payments to Bobcat, and Customer does not

remedy such failure within a period of thirty (30)

days after receipt of a notice from Bobcat and

indemnify and hold harmless Bobcat from and against

any losses resulting from such failure;

 

(3) Customer or its guarantor becomes insolvent, however

evidenced.

 

(4) Customer fails to provide or maintain Financial

Assurances.

 

(b) In the event of any default by Customer, in addition to all

other remedies available to it pursuant to the Storage

Service Agreements or at law and in equity, Bobcat may do

any or all of the following:

 

(1) Demand within five (5) Business Days repayment of the

entire balance of the outstanding Gas loan to

Customer;

 

(2) refuse to accept any further deliveries of Gas from or

on behalf of Customer pursuant to all or any

transactions;

 

(3) refuse to deliver Gas to or on behalf of Customer

pursuant to all or any transactions;

 

(4) set off any amount owing by Bobcat to Customer

pursuant to any transaction(s) against amounts

otherwise owing by Customer to Bobcat pursuant to any

other transaction(s);

 

(5) suspend performance until Customer corrects the

default in full;

 

(6) terminate the Customer's Storage Service Agreement,

provided that Bobcat shall provide not less than

thirty (30) days notice of such termination to the

Customer and to FERC and