Petal Gas Storage, L. L. C.
Original Volume No. 1
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Effective Date: 05/01/2002, Docket: RP02-188-000, Status: Effective
First Revised Sheet No. 202 First Revised Sheet No. 202 : Effective
Superseding: Original Sheet No. 202
FORM OF FIRM STORAGE SERVICE AGREEMENT (Continued)
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.
ARTICLE XI - LAW OF AGREEMENT
THE INTERPRETATION AND PERFORMANCE OF THIS AGREEMENT SHALL BE IN ACCORDANCE WITH AND
CONTROLLED BY THE LAWS OF THE STATE OF MISSISSIPPI, WITHOUT REGARD TO DOCTRINES
GOVERNING CHOICE OF LAW.
ARTICLE XII - MISCELLANEOUS
1. No change, modification or alteration of this Agreement shall be or become
effective until executed in writing by the parties hereto, and no course of
dealing between the parties shall be construed to alter the terms hereof, except
as expressly stated herein.
2. No waiver by any party of any one or more defaults by the other in the
performance of any provisions of the Agreement shall operate or be construed as
a waiver of any other default or defaults, whether of a like or of a different
3. Petal and Customer shall proceed with due diligence to obtain such governmental
and other regulatory authorizations as may be required for the rendition of the
services contemplated herein, provided that Petal reserves the right to file and
prosecute applications for such authorizations, any supplements or amendments
thereto and, if necessary, any court review, in such manner as it deems to be in
its best interest, including the right to withdraw the application or to file
pleadings and motions (including motions for dismissal).
4. This Agreement and the respective obligations of the parties hereunder are
subject to all present and future valid laws, orders, rules, and regulations of
constituted authorities having jurisdiction over the parties. Neither party
shall be held in default for failure to perform hereunder if such failure is
due to compliance with laws, orders, rules or regulations of any such duly