Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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Effective Date: 05/10/2010, Docket: RP10-594-000, Status: Effective

Fifth Revised Sheet No. 112 Fifth Revised Sheet No. 112

Superseding: Substitute Fourth Revised Sheet No. 112

GENERAL TERMS AND CONDITIONS

19.6 Offer and Bid Procedures (cont'd):

The following information shall be supplied by Transporter

with each Offer: (i) the maximum reservation charge (and

reservation surcharges) applicable to the capacity being

released, (ii) the maximum reservation charge (and

reservation surcharges) converted to a 100% load-factor

volumetric rate if Offer allows bids on a volumetric rate

basis, (iii) the date and time the Offer was posted on the

Internet Web Site, and (iv) the date and time the bid period

ends.

(d) Prearranged Release: A RELEASING SHIPPER must identify in

its Offer any prearranged ACQUIRING SHIPPER. Such ACQUIRING

SHIPPER must meet all of the requirements established for

bidders pursuant to subsection 19.6(e) and the prearranged

ACQUIRING SHIPPER shall submit its bid, if required, in

accordance with subsections 19.6(f)-(g). If the prearranged

ACQUIRING SHIPPER tenders a bid for the offered capacity

which is (a) a Prearranged Release for the maximum charge

applicable to the capacity being released provided that the

release term is more than one Year; (b) a Short-term

Prearranged Release (31 days or less; (c) a release to an

asset manager (AMA), as defined by FERC regulations at 18

CFR 284.8; or (d)releases to a marketer participating in a

state-regulated retail access program), as defined by FERC

regulations at 18 CFR 284.8, for the full capacity and term

offered by the RELEASING SHIPPER and satisfies all of the

requirements of subsections 19.6(e)-(g), that bid shall be

deemed the best bid. Transporter shall post on its Internet

Web Site by 9:00 a.m. CCT the day of nomination the identity

of the prearranged ACQUIRING SHIPPER, and the terms upon

which the capacity was released for informational purposes

only. In all other situations, the prearranged ACQUIRING

SHIPPER's bid shall constitute the minimum bid price for all

other bidders, and shall be posted on the RELEASING

SHIPPER's Offer as such. If Transporter does not receive

any better bid meeting the essential terms of RELEASING

SHIPPER's Offer by the end of the posting period, the

prearranged ACQUIRING SHIPPER's bid shall be deemed the best

bid. If Transporter does receive a better bid meeting the

essential terms of RELEASING SHIPPER's Offer by the end of

the posting period, the prearranged ACQUIRING SHIPPER shall

have the right to match the terms of the better bid,

provided the prearranged ACQUIRING SHIPPER gives notice to

Transporter pursuant to Section 19.9 that it will match the

essential terms of the better bid.