Petal Gas Storage Company
Original Volume No. 1
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Effective Date: 08/16/1999, Docket: RP99-443-000, Status: Effective
Original Sheet No. 205 Original Sheet No. 205 : Effective
Form of Interruptible Storage Service Agreement
(continued)
ARTICLE VI - TERM OF AGREEMENT
This Agreement shall be effective ______ __, ____, and shall remain in
force and effect for ______ (the "Primary Term"). Thereafter, this
Agreement shall continue for successive terms of ___________ each (the
"Renewed Term") unless either party gives ______ days written notice to the
other party prior to the end of the Primary Term or any Renewed Term
thereafter.
ARTICLE VII NOMINATIONS
Petal shall use its best efforts to accept both verbal and electronic
changes in nominations twenty-four (24) hours per day in order to
accommodate Customer's requests for such changes. Such changes shall be
made as soon as Petal can practically make such changes. Customer shall
acknowledge such changes in writing or by telecopy within four hours of
requesting such changes.
Petal shall maintain personnel and equipment available to receive and act
upon nomination changes and confirmations twenty-four (24) hours per day,
seven (7) days per week. In the event that Petal fails to obtain
confirmation from Customer's Transporter of Customer's nomination, Petal
shall notify Customer of such failure as soon as possible.
ARTICLE VIII - INCORPORATION OF RATE SCHEDULE AND TARIFF PROVISIONS
This Agreement shall be subject to the terms and provisions of Petal's Rate
Schedule ISS, as filed with the Federal Energy Regulatory Commission,
together with the General Terms and Conditions applicable thereto
(including any changes in said Rate Schedule or General Terms and
Conditions as may from time to time be filed and made effective by Petal).
ARTICLE IX - NOTICES
Except as otherwise provided in the General Terms and Conditions applicable
to this Agreement, any notice under this Agreement shall be tendered in
accordance with Appendix 2 to this Agreement.
ARTICLE X - TRANSFER AND ASSIGNMENT
Any individual or entity which shall succeed by purchase, merger, or
consolidation to the properties, substantially as an entirety, of Petal or
Customer, as the case may be, shall be entitled to the rights and shall be
subject to the obligations of its predecessor in title under this
Agreement. No assignment of this Agreement by either party or any of the
rights or obligations hereunder shall be made unless there first shall have
been obtained the consent thereto in writing of the other party, which
consent shall not be unreasonably delayed or withheld. Any release of
Customer from its obligations hereunder shall be conditioned on the
approval of Petal's lenders/note holders.
It is agreed, however, that the restrictions on assignment contained in
this Article shall not in any way prevent either party to this Agreement
from pledging or mortgaging its rights hereunder as security for its
indebtedness without the written consent of the other party. This Agreement
shall be binding upon and shall inure to the benefit of the respective
authorized successors and assigns.