Algonquin Gas Transmission, LLC
Fifth Revised Volume No. 1
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Effective Date: 11/30/2009, Docket: RP10-77-000, Status: Effective
First Revised Sheet No. 513B First Revised Sheet No. 513B
Superseding: Original Sheet No. 513B
GENERAL TERMS AND CONDITIONS
2. REQUEST FOR TRANSPORTATION SERVICE (continued)
(5) All credit ratings shall be determined as of the last Day of the Open Season
for the pipeline capacity at issue, and in the event a bidder is rated by two
or more rating agencies and there is a split rating between rating agencies,
the lowest rating applies.
(6) For any bid submitted with a term of fifteen (15) years or longer, Algonquin
will apply the 15-year Risk of Default factor from the S&P Table.
(7) It is a condition of any capacity award that the winning bidder post any
collateral indicated on its bid form within five (5) business days of the
notice of award, and Algonquin shall have the right to reject and/or
terminate any award for failure of a bidder to do so. If a bidder fails to
post such collateral, Algonquin shall have the right to require that such
bidder post collateral contemporaneously with any future bid(s) or provide
other credit assurance of a type reasonably acceptable to Algonquin given the
financial obligations associated with the particular award.
(8) Algonquin will provide interest on the collateral in accordance with Section