FYI 

In BP Energy's Red Rock contract #27609, BP has certain termination rights if TW defaults on certain obligations.  So that everyone is aware of the rights and obligations of both parties, they are stated below.


Transwestern must certify to BP by December 31, 2001 or such date as the parties may agree upon, that Transwestern has received acceptable licenses, permits (except air permits), approvals, right-of-way interests and utilities for construction and operation of the Red Rock Expansion.  If this condition is not met, or otherwise waived by the parties, BP shall have the right upon thirty (30) days prior written notice, exercised no later than sixty (60) days after December 31, 2001 to terminate the agreement.

Transwestern must certify to BP by March 31, 2002 that Transwestern has received acceptable air permits.  If this condition is not met, or otherwise waived by the parties, BP shall have the right upon thirty (30) days prior written notice, exercised no later than sixty (60) days after March 31, 2002 to terminate the agreement.


Lorraine