Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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

Second Revised Sheet No. 307 Second Revised Sheet No. 307

Superseding: First Revised Sheet No. 307

 

FORM OF NGL BANK AGREEMENT

 

ARTICLE V

SETTLEMENTS

Cont'd

 

5.1 Settlement Calculations (a) cont'd

 

i. The representative sales price for ethane shall be based on

the average of the high and low Mt. Belvieu price quotes for Purity

published by Oil Price Information Services (OPIS) for the last (2) two

Business Days prior to the month of delivery and for the second and

third Business Days of the month of delivery.

 

ii. The representative sales price for propane shall be based on

the average of the high and low Mt. Belvieu price quotes for TET and

NON-TET Propane published by OPIS for the last two (2) Business Days

prior to the month of delivery and for the second and third Business

Days of the month of delivery.

 

iii. The representative sales price for isobutane shall be based

on the average of the high and low Mt. Belvieu price quotes for NON-TET

Isobutane published by OPIS for the last two (2) Business Days prior to

the month of delivery and for the second and third Business Days of the

month of delivery.

 

iv. The representative sales price for normal butane shall be

based on the average of the high and low Mt. Belvieu price quotes for

NON-TET Normal Butane published by OPIS for the last two (2) Business

Days prior to the month of delivery and for the second and third

Business Days of the month of delivery.

 

v. The representative sales price for natural gasoline shall be

based on the average of the high and low Mt. Belvieu price quotes for

River Natural Gasoline published by OPIS for the last two (2) Business

Days prior to the month of delivery and for the second and third

Business Days of the month of delivery.