Common use of Capacity Release Clause in Contracts

Capacity Release. Counterparty shall release to Manager the portion of Counterparty's right, title and interest in and to those contracts and agreements for Firm transportation and storage capacity listed in Exhibit A, and any and all amendments or modifications thereto. The releases are on more than one pipeline and in more than one storage facility, and are intended to represent, in so far as operationally feasible, all of Counterparty's transportation and storage assets. Counterparty shall not terminate or materially modify or amend any contract or agreement without prior consultation with Manager. The Parties shall negotiate appropriate and comparable adjustments if the Manager's ability to render service is reduced and, if unable to reach agreement, the appropriate adjustments shall be submitted to arbitration pursuant to Article XVII.

Capacity Release. Counterparty shall release to Manager the portion of Counterparty's right, title and interest in and to those contracts and agreements for Firm Fin-n transportation and storage capacity listed in Exhibit A, and any and all amendments or modifications thereto. The releases are on more than one pipeline and in more than one storage facility, and are intended to represent, in so far as operationally feasible, all of Counterparty's transportation and storage assets. Counterparty shall not terminate or materially modify or amend any contract or agreement without prior consultation with Manager. The Parties shall negotiate appropriate and comparable adjustments if the Manager's ability to render service is reduced and, if unable to reach agreement, the appropriate adjustments shall be submitted to arbitration pursuant to Article XVII.