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

(continued)

 

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

3.2.