Mark,  Attached is the letter agreement we discussed.
Please review.
It is  rough.
Some issues to note:  1.
The Kern PA cannot be assigned without their consent, which shall not be  unreasonably withheld.
If Kern didn't like the fact that we are receiving  assignment from 3 or 4 other shippers, they might withhold consent if they  thought we were superceding their bid procedures.
Not sure if they would,  but it is a risk.
2.
If the assignment is done after the producer executes the firm transport  agreement, Kern could require to capacity to be released via capacity release  at max rate.
3.
I took a stab at the mark-to-market calculation.
Probably needs more  substance though.
Lets discuss.

Kern River Bid Letter
Mark, Attached is the letter agreement we discussed.
Please review.
It is rough.
Some issues to note: <NUMBER>.
The Kern PA cannot be assigned without their consent, which shall not be unreasonably withheld.
If Kern didn't like the fact that we are receiving assignment from <NUMBER> or <NUMBER> other shippers, they might withhold consent if they thought we were superceding their bid procedures.
Not sure if they would, but it is a risk.
<NUMBER>.
If the assignment is done after the producer executes the firm transport agreement, Kern could require to capacity to be released via capacity release at max rate.
<NUMBER>.
I took a stab at the mark-to-market calculation.
Probably needs more substance though.
Lets discuss.
producer executes capacity letter probably needs substance transport agreement kern sure risk issues note number superceding bid procedures pa assigned like fact