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. 309 Second Revised Sheet No. 309
Superseding: First Revised Sheet No. 309
FORM OF NGL BANK AGREEMENT
ARTICLE V
SETTLEMENTS
Cont'd
5.1 Settlement Calculations cont'd
d) In the event that any of the Plants issue revised allocation
statements, any resulting NGL Bank settlement adjustments will be limited to
instances where adjustments, either positive or negative, for all Plants
collectively exceed $20,000. Notwithstanding the above, no NGL Bank
Settlement adjustments will be made for revised Plant allocation statements
received more than two (2) years following the month of production.
5.2 Shipper Data Requirements. Shipper hereby agrees to provide, or require
the point operator at the Receipt Points on Transporter's Facility used by
Shipper to provide Administrator with each Production Point's volume (MCF),
quality (Btu/CF), NGL composition data, C2+ GPM and any other information
Administrator may reasonably require in the performance of this Agreement
including, but not limited to, pipeline routing, gas plant destination and
processing fee(s) for Shipper's gas for each Production Point, by the last day
of the succeeding month for the previous month. Shipper agrees to indemnify
and hold Administrator harmless from and against any and all claims that arise
from Administrator's exclusive reliance on such data in the performance of
this Agreement. Administrator shall have the right to audit any information
supplied to Administrator by Shipper or the point operator in connection
herewith including, but not limited to, viewing the facilities, equipment, and
procedures used in supplying such information to Administrator. In the case
of natural gas proportional to flow sampler failure, or associated like
equipment, Administrator may use, at its reasonable discretion, a spot sample,
the previous month's data, or some other reasonable estimate. All NGL
composition data shall be converted to GPM factors by using volume factors
from the most current GPA Publication 2145, currently Publication 2145-96, and
adjusted to a 15.025 psia pressure base.
5.3 Administrative Fees. Total monthly payments due Administrator to
administer the NGL Bank for the period beginning January 1, 2010, as further
detailed on Exhibit A, attached hereto and incorporated herein by reference,
shall be (i) $3,000.00 per month, plus an additional $150.00 per shipper or
agent per month for all months in which NGL Bank settlements are made by
Administrator or (ii) $1,500.00 per month, plus an additional $100.00 per
shipper or agent per month for all months in which no NGL Bank settlements are
made by Administrator. The above monthly payments shall be charged pro-rata
to each shipper based upon each shipper's total monthly quantity of natural
gas, in Dekatherms ("Dth"), transported on Transporter's Facility as compared
to the total monthly quantity of natural gas, in Dth, transported by all
shippers on Transporter's Facility for such month.