Stingray Pipeline Company, L. L. C.

Third Revised Volume No. 1

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Effective Date: 11/01/2008, Docket: RP08-436-000, Status: Effective

First Revised Sheet No. 193 First Revised Sheet No. 193

Superseding: Original Revised Sheet No. 193

 

GENERAL TERMS AND CONDITIONS

 

 

28. SUCCESSORS AND ASSIGNS

 

Any company which shall succeed by purchase, merger or

consolidation to the properties, substantially as an entirety, of

Shipper or Stingray shall be entitled to the rights and shall be

subject to the obligations of its predecessor in title under the

Agreement; provided, however, that Stingray 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. Except as provided in Section 2 of these

General Terms and Conditions and in Section 19 of Rate Schedule

FTS-2, no other assignment of an Agreement or any of the rights or

obligations thereunder shall be made by Shipper unless there first

shall have been obtained the written consent thereto of Stingray.

Shipper or Stingray 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.