Common use of Other Conditions for Transfer Clause in Contracts

Other Conditions for Transfer. Except for acreage swaps described in Section 1.1(d) above, and notwithstanding the provisions of Section 6.3 and 6.4, no transfer of any interest hereunder shall be effective or recognized unless the transferee expressly assumes and agrees to discharge all of the obligations of the transferor under this Agreement applicable to the party whose interest is transferred. Any such assumption and agreement to discharge shall be by appropriate written instrument for the express benefit of, and enforceable by, LMM (in the case of a transfer by a Shipper) or by the Shippers (in the case of a transfer by LMM), as may be applicable. If a transfer fully complies with all of the requirements of this Section, the transferor party shall be relieved of all obligations and liabilities under this Agreement pertaining to the period after the effective date of such transfer, but in no event shall the transferor party be relieved of any obligations under this Agreement pertaining to the period prior to the effective date of such transfer. No transfer by a party shall be binding or effective upon the other parties until the first Day of the Month next following receipt of written notice of such transfer by all other parties, together with transferor’s and transferee’s compliance with all other terms and provisions of this Section 6.

Other Conditions for Transfer. Except for acreage swaps described in Section 1.1(d) above, and notwithstanding the provisions of Section 6.3 7.3 and 6.47.4, no transfer of any interest hereunder shall be effective or recognized unless the transferee expressly assumes and agrees to discharge all of the obligations of the transferor under this Agreement applicable to the party whose interest is transferred. Any such assumption and agreement to discharge shall be by appropriate written instrument for the express benefit of, and enforceable by, LMM (in the case of a transfer by a Shipper) or by the Shippers (in the case of a transfer by LMM), as may be applicable. If a transfer fully complies with all of the requirements of this Section, the transferor party shall be relieved of all obligations and liabilities under this Agreement pertaining to the period after the effective date of such transfer, but in no event shall the transferor party be relieved of any obligations under this Agreement pertaining to the period prior to the effective date of such transfer. No transfer by a party shall be binding or effective upon the other parties until the first Day of the Month next following receipt of written notice of such transfer by all other parties, together with transferor’s and transferee’s compliance with all other terms and provisions of this Section 67.5.