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.