Caledonia Gas And Storage

First Revised Volume No. 1

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Effective Date: 09/30/2010, Docket: RP10-1032-000, Status: Effective

Original Sheet No. 114 Original Sheet No. 114

 

(b) the proposed assignee does not meet Caledonia’s creditworthiness

requirements as described in this Gas Tariff. Notwithstanding the

foregoing, Caledonia may assign its rights and obligations under a

Service Agreement to an Affiliate without the prior consent of

Customer. These restrictions on assignment shall not in any way

prevent any party from pledging or mortgaging its rights under a

Service Agreement as security for its indebtedness (but never in

contravention of Caledonia’s liens and security interest on Customer’s

Gas in storage). Any direct or indirect assignment of Service

Agreement rights by Customer under this Section shall be made in good

faith and not for the purpose of avoiding the requirements of the

capacity release provisions of this Gas Tariff.

22.6 Imbalance Management Services Provided by Third Parties.

Nothing in this FERC Gas Tariff is intended to inhibit the development

of or discriminate against the use of, imbalance management services

provided by third parties or Caledonia’s Customers. Any party

interested in providing imbalance management services must coordinate

with Caledonia.

22.7 Severability.

If any provision of any Service Agreement is declared null and void,

or voidable, by a regulatory body or court of competent jurisdiction,

then that provision will be considered severable at either Party’s

option; and if the severability option is exercised, the remaining

provisions of the Service Agreement shall remain in full force and

effect.

 

23. TERMINATION FOR DEFAULT

23.1 Delivery and Receipt Defaults. Except as set forth in Section

23.2 below, Delivery Defaults and Receipt Defaults by either Party

shall be addressed in the manner set forth in Section 9.8 of this Gas

Tariff.

23.2 Event of Default. The occurrence at any time with respect to a

Party of any of the following events shall constitute an event of

default (“Event of Default”) with respect to such Party: (A) The Party

or its Credit Support Provider files, or has filed against it, a

petition for bankruptcy or insolvency or for reorganization or

arrangement under bankruptcy laws of the United States or under any

insolvency act of any state, or a Party voluntarily takes advantage of

any such law or act by answer or otherwise; (B) becomes insolvent

(however evidenced) or is unable to pays its debts as they become due;

(C) makes a general assignment for the benefit of its creditors; (D)

seeks or becomes subject to the appointment of an administrator,

conservator, receiver, trustee, custodian or other similar official

for it or for all or substantially all its assets;