FERC Regulation. In the event the FERC does not approve in its entirety the Transportation Agreement in response to the filings made by Transporter at the FERC on July 24, 1990 in Docket Nos. CP89-2047-003 and CP89-1794 through CP89-1810, then Shipper and Transporter will renegotiate any rejected provisions of the Transportation Agreement in good faith, replacing each such provision with terms that are consistent with the FERC's orders on the July 24, 1990 filings. It is understood that the MDQ, 15-year contract term and receipt and delivery points shall not be changed, unless both parties mutually agree to a change. Notwithstanding the foregoing commitment, both parties expressly reserve the right to seek rehearing and/or judicial review of any modification ordered by the FERC. If Shipper is in agreement with the foregoing, please so indicate by signing in the space provided below and return two fully-executed originals of this document for our records. Yours very truly, KERN RIVER GAS TRANSMISSION COMPANY
FERC Regulation. This Agreement is subject to all valid present and future laws, regulations, rules and orders of governmental authorities now or hereafter having jurisdiction over the Parties, this Agreement, or the services performed or the facilities utilized under this Agreement. It is the intent of the Parties that Carrier provide to Producer the services set forth in this Agreement on a negotiated contract basis only and the Parties hereby agree that, in the event that (i) Carrier’s facilities, or any part thereof, become subject to regulation by the Federal Energy Regulatory Commission, or any successor agency thereto (“FERC”), or any other governmental body or agency of the rates, terms and conditions for the services set forth in this Agreement, (ii) Carrier becomes obligated by FERC or any other governmental body or agency to provide gathering services on a common carrier, nondiscriminatory basis as a result of Carrier’s execution, performance or continued performance of this Agreement or (iii) FERC or any other governmental body or agency seeks to modify any term or conditions of this Agreement, then: (a) to the maximum extent permitted by law, it is the intent of the Parties that the rates and terms and conditions established by the FERC or governmental body or agency having jurisdiction shall not alter the terms and conditions set forth in this Agreement, and the Parties agree to vigorously defend and support in good faith the enforceability of the terms and conditions of this Agreement; (b) in the event that FERC or the governmental body or agency having jurisdiction modifies the terms and conditions set forth in this Agreement, the Parties hereby agree to enter into such amendments to this Agreement and or enter into a separate arrangement in order to give effect, to the greatest extent possible, to the terms and conditions set forth herein; and (c) in the event that the Parties are not successful in accomplishing the objectives set forth in (a) or (b) above such that the Parties are in substantially the same economic position as they were prior to any such regulation, then either Party may terminate this Agreement effective one (1) Day prior to the effective date of such governmental action by providing prompt, written notice to the other Party.
FERC Regulation. As of the date of the first Borrowing, the FERC Orders are in full force and effect, except as could not reasonably be expected to have a Material Adverse Effect. The waiting period relating to blanket approval to allow each Project Company to issue securities and assume liabilities under Section 204 of the FPA has passed without any interventions or protests filed by any party. Each Project Company is in compliance with all applicable requirements under the FPA and the FERC’s regulations thereunder, except as could not reasonably be expected to have a Material Adverse Effect.
FERC Regulation. As of each Borrowing, each Project Company is in compliance with all applicable requirements under the FPA and the FERC’s regulations thereunder, except as could not reasonably be expected to have a Material Adverse Effect. As of the Financial Closing Date, the FERC Orders are in full force and effect.
FERC Regulation. None of the Assets is subject to rate regulation or a filed tariff under the Federal Power Act.
