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. 202 Original Sheet No. 202 : Effective
Form of Firm Storage Service Agreement
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 character.
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, their functions or gas supply, this Agreement or any
provision hereof. 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 constituted authorities.