FTS Agreement definition
Examples of FTS Agreement in a sentence
Southwestern Energy Services Company, Transportation Rate Schedule FTS Agreement, Dated January 6, 2010 (Contract No. 200000).
To exercise its right to terminate pursuant to this Section 5(B)(i), Transporter shall provide written notice to Shipper that the Precedent Agreement and/or FTS Agreement, as applicable, shall terminate on a date set by Transporter, which date shall not be earlier than thirty (30) days or later than sixty (60) days following the date on which such notice is provided to Shipper.
Transporter shall provide written notice to Shipper that Transporter has received all approvals from its executive management and/or board of directors necessary to fulfill the Transporter’s obligations of this Precedent Agreement, the FTS Agreement, and all other agreements contemplated hereby, subject to the conditions contained herein, (“Transporter Internal Approvals”) on or before March 7, 2018.
Once the FTS Agreement is executed by both Parties, any assignment of such FTS Agreement is subject to the terms and conditions of Transporter’s Tariff and the terms of this provision shall no longer control.
Cross Timbers Energy Services, Inc., Transportation Rate Schedule FTS Agreement, Dated September 27, 2010 (Contract No. 200002).
Failure by Shipper to exercise a Term Extension Right in accordance with the foregoing conditions shall result in expiration of the FTS Agreement at the end of the Primary Term or extended term then in effect, as applicable and Shipper shall have no further unilateral rights to acquire capacity at the rates specified herein absent agreement otherwise with Transporter.
No later than sixty (60) days after Shipper’s notice to Transporter that it has obtained all Shipper Internal Approvals pursuant to Section 3(A) and reached FID pursuant to Section 2(A), Transporter shall deliver to Shipper for Shipper’s execution, a FTS Agreement in a form substantially similar in all material respects to Exhibit A hereto.
The only provisions of this Agreement which shall survive termination pursuant of this Precedent Agreement shall be: Sections 2(G), 2(F), 3(E), 8, 10(B), 10(C), 10(E), 10(H), 10(I) and 10(J), which shall survive until termination of the FTS Agreement.
If notice of termination is provided by Shipper pursuant to this Section 5(D)(ii), the Parties shall attempt in good faith during such ninety (90) day period to negotiate an amendment to this Precedent Agreement to accomplish the Parties’ respective business objectives; provided, however, that such obligation to negotiate in good faith shall not require either Party to consent to modifications to this Precedent Agreement or FTS Agreement.
This Precedent Agreement shall become effective on the Effective Date and shall remain in effect until the earlier of: (i) the Commencement Date of the FTS Agreement as defined in Section 2(B), below, or (ii) either Shipper’s or Transporter’s exercise of its rights to terminate this Precedent Agreement pursuant to the terms herein.