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
Original Sheet No. 226 Original Sheet No. 226 : Effective
FORM OF FIRM TRANSPORTATION SERVICE AGREEMENT (Continued)
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
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).