Common use of Transporter’s Failure to Obtain Transporter Regulatory Authorizations Clause in Contracts

Transporter’s Failure to Obtain Transporter Regulatory Authorizations. All Transporter Regulatory Authorizations necessary to construct and secure the Project Facilities and to render the proposed Firm Service pursuant to the terms and conditions specified herein shall be satisfactory to Transporter, in Transporter’s reasonable sole discretion. If this Transporter Condition Precedent has not been satisfied or waived in writing by Transporter, then Transporter shall have the right to terminate this Agreement without liability to Shipper upon ninety (90) days’ prior written notice to Shipper; provided, however, that any such notice of termination must be provided within thirty (30) days of the event giving rise to Transporter’s right to terminate hereunder. If notice of termination is provided by Transporter pursuant to this Section 5(A)(v), the Parties shall attempt in good faith 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. This Precedent Agreement shall terminate on the date set forth in Transporter’s notice of termination unless prior to such date: (1) a change to the Transporter Regulatory Authorizations renders them satisfactory to Transporter; (2) the Parties otherwise mutually agree to an amendment to this Precedent Agreement; (3) the Parties agree in writing to extend the negotiation period; or (4) Transporter withdraws its previously submitted notice to terminate.