Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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

Eighth Revised Sheet No. 121 Eighth Revised Sheet No. 121

Superseding: Seventh Revised Sheet No. 121

 

GENERAL TERMS AND CONDITIONS

 

 

19.8 Offers to Acquire Firm Capacity:

 

Transporter agrees to post on its Internet Web Site at a party's

request offers to purchase firm capacity on a permanent or

temporary basis. Each offer will remain on the Internet Web Site

for five (5) Business Days before it is removed, unless the

requesting party notifies Transporter prior to the expiration of

any five-day period that it wishes to extend the posting for an

additional five (5) Business Days. All such parties must have met

the Pre-qualified Bidder Requirements pursuant to subsection

19.6(e).

 

19.9 Timeline for Capacity Releases

 

The Capacity Release Timeline is applicable to all parties

involved in the capacity release process; subject to the provision

of this Section 19, if:

 

(1) all information provided by the parties to the transaction

is valid and the acquiring Shipper has been determined to be

creditworthy before the capacity release is tendered and

 

(2) there are no special terms or conditions to the release.

 

(a) For biddable releases (1 year or less):

 

- offers should be tendered by 12:00 P.M. on a

Business Day;

 

- open season ends no later than 1:00 P.M. on a

Business Day (evaluation period begins at 1:00 P.M.

during which contingency is eliminated, determination

of best bid is made, and ties are broken);

 

- evaluation period ends and award posting if no

match required at 2:00 P.M.;

 

- match or award is communicated by 2:00 P.M.;

 

- match response by 2:30 P.M.;

 

- where match required, award posting by 3:00 P.M.;

 

- contract issued within one hour of award posting

(with a new contract number, when applicable);