Kern River Gas Transmission Company
Second Revised Volume No. 1
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Effective Date: 10/01/2003, Docket: RP00-337-006, Status: Effective
Original Sheet No. 341 Original Sheet No. 341 : Effective
FORM OF PARK AND LOAN SERVICE AGREEMENT
(Applicable to Park and Loan Service Under Rate Schedule PAL)
Nothing contained herein will prevent either party from pledging,
mortgaging or assigning its rights hereunder as security for its
indebtedness and either party may assign to the pledgee or mortgagee (or
to a trustee for the holder of such indebtedness) any money due or to
become due under this Agreement. As between the parties hereto, such
assignment will become effective on the first day of the month following
written notice that such assignment has been effectuated. Upon request
of either party, the other party will acknowledge in writing any
permitted assignment described herein and the right of any permitted
assignee (and any assignee upon enforcement of any assignment made as
security for indebtedness) to enforce this Agreement against such other
party, and will also deliver such certificates, copies of corporate
documents and opinions of counsel as may be reasonably requested by such
permitted assignee relating to such party, this Agreement and any other
matters relevant thereto. No permitted assignment will relieve the
assigning party from any of its obligations under this Agreement.
Shipper hereby confirms that the rights of Transporter under the
Agreement that may be assigned include any right given or reserved to
Transporter in the Agreement to consent to any assignment or transfer by
Shipper of its rights and obligations thereunder.
ARTICLE VI - GOVERNMENTAL BODIES
6.1 Notwithstanding any other provision hereof, this Agreement will be
subject to all laws, statutes, ordinances, regulations, rules and court
decisions of governmental entities now or hereafter having jurisdiction.
ARTICLE VII - MISCELLANEOUS PROVISIONS
7.1 This Agreement will be amended only by an instrument in writing executed
by both parties hereto.
7.2 No waiver by any party of any one or more defaults by the other in the
performance of any provisions of this Agreement will operate or be
construed as a waiver of any future default or defaults, whether of a
like or of a different character.