HomeMy WebLinkAboutCity of Cape Canaveral Gas Franchise Transfer 20231222December 22 , 2023
Via Electronic Transmission
City Manager
City of Cape Canaveral, Florida
100 Polk Avenue
Cape Canaveral, Horida 32920
Re: Gas Franchise Agreement, dated as of February 18, 1997, by and between the City of Cape
Canaveral and Pivotal Utility Holdings, Inc. (f/k/a NUI Corporation) (the "Franchise Agreement").
To Whom it May Concern:
Pursuant to that certain Stock Purchase Agreement, dated as of September 26, 2023, by and between Honda
Power & Light Company ("Seller") and Chesapeake Utilities Corporation ("Purchaser"), Seller has agreed to
sell, and Purchaser has agreed to purchase, all of the issued and outstanding shares of Pivotal Utility Holdings,
Inc. (the "Transaction").
Pivotal Utility Holdings, Inc. acknowledges that the closing of the Transaction (the "Closing") may constitute
a Transfer (as defined in the Franchise Agreement) under Section 8.1 of the Franchise Agreement. By executing
this letter, you acknowledge and agree that (a) the person executing this letter on your behalf has full power
and authority to do so, (b) this letter will satisfy any provision of the Franchise Agreement requiring notice or
consent as a result of the Transaction, and (c) the Closing will not result in a termination or breach of the
Franchise Agreement. If the Closing does not occur, then this letter will be of no force or effect.
Please acknowledge your receipt of this letter and confirm your agreement with the matters set forth herein by
signing below where indicated and emailing an executed copy to the attention of Ms. Monica Barnes, Senior
Attorney at monica.barnes@fpl.com. Your earliest consideration of the foregoing will be greatly appreciated.
Sincerely,
PIVOTAL UTILITY HOLDINGS, INC.
By:
Name: ncor'k
Title: AVP - Fnergy Logistics and Pipelines
ACKNOWLEDGED AND AGREED
CITY OF CAPE CANAVERAL, FLORIDA
By://4#'2;t4el.
Name: Wes Morrison
Title: Mayor
Date: /2//q/Z023
Florida City Gas
700 Universe Boulevard, Juno Beach, FL 33408