Destin Pipeline Company, L.L.C.
Original Volume No. 1
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Effective Date: 01/14/2005, Docket: RP05-123-000, Status: Effective
First Revised Sheet No. 237 First Revised Sheet No. 237 : Effective
Superseding: Original Sheet No. 237
OPERATIONAL BALANCING AGREEMENT
Notwithstanding anything in this Agreement to the contrary,
this Agreement is not intended to modify or waive any rights
or obligations either Party may have under its FERC Gas
Tariff, as such may be revised from time to time.
5.8 Creditworthiness - Destin or Operator may make an inquiry
into the other Party's creditworthiness and obtain adequate
assurances of each's solvency and ability to perform under this
Agreement. In this regard, upon request, Operator and Destin
agree to supply each other with credit information from time to
time including, but not limited to, three (3) credit references
and either their most recent audited or otherwise verified
financial statement, or alternate credit information sufficient
to demonstrate that they will be able to meet their financial
obligations under this Agreement. The Parties acknowledge that
Destin or Operator may terminate this Agreement at the end of the
current calendar month upon prior written notice to the other
Party hereto if they do not receive the information sought by the
requesting Party which assures that Party of Operator's or
Destin's solvency and ability to continue to perform its
obligations under this Agreement.
5.9 Assignability - This Agreement shall not be assignable by
5.10 Governing Law - The validity and interpretation of this
Agreement shall be governed by the laws of the State of Texas
(excluding choice of law provisions).
5.11 Superseding Agreement - The terms of this Agreement shall
supersede the terms of any other balancing agreement between
Destin and Operator with regard to the allocation of gas at the
Point and the resolution of the Monthly Operational Imbalance.
No modifications or amendments to this Agreement shall be valid
or enforceable unless such modifications or amendments are stated
in writing and validly executed by both Parties.