TransGas Comprehensive Tariff
Article 15 Termination upon Default 15.1 Failure to Perform
If either Person should fail to perform any of the covenants or obligations imposed upon it under and by virtue of Service under the Tariff (the "Defaulting Person"), then in any such event, the other Person (the "Non-Defaulting Person") may at its option terminate the Service by proceeding as follows: (a) Notice of Default The Non-Defaulting Person shall cause a notice in writing to be given to the Defaulting Person advising as to the nature of any default and declaring it to be the intention of the Non-Defaulting Person to terminate the Service. (b) Remedy of Default The Defaulting Person shall have ninety (90) Days after receiving any such notice to remedy the default specified and if, within the said period of ninety (90) Days, the Defaulting Person does remedy any such default to the satisfaction of the Non- Defaulting Person acting reasonably, then the notice given pursuant to Clause 15.1(a) shall be deemed to be withdrawn and the Service shall continue in full force and effect. (c) Failure to Remedy by Customer In the event that Customer does not remedy any default of which it has been given notice by TransGas to the satisfaction of TransGas within the said ninety (90) Day period, then the Service shall thereafter terminate and the appropriate charges for all Customer Specific Facilities, as well as the present value of all future Service, which would normally be incurred during the remaining term of the Service, discounted at a rate equal to the prime rate of the Royal Bank of Canada, Regina, Main Branch, plus two percent (2%) until the termination of the Service shall, subject to TransGas' Standard Investment Policy which is in effect from time to time, become due and payable. All other rights and obligations of the Persons hereunder shall cease upon termination of the Service; PROVIDED however, that any such termination shall not affect any other remedy TransGas may have at law or in equity. (d) Failure to Remedy by TransGas In the event that TransGas does not remedy any default of which it has been given notice by Customer to the satisfaction of Customer within the said ninety (90) Day period, then the Service shall thereafter terminate. All other rights and obligations of the Persons hereunder shall cease upon the termination of the Service; PROVIDED however, that any such termination shall not affect any other remedy Customer may have at law or in equity.
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Business Practices Overview 1.2 General Terms and Conditions
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