Keyspan LNG, LP (Alng)

Third Revised Volume No. 1

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Effective Date: 01/27/2003, Docket: RP03-241-000, Status: Effective

Original Sheet No. 64 Original Sheet No. 64 : Effective

 

Joseph A. Vaszily, Vice President

 

 

GENERAL TERMS AND CONDITIONS

(continued)

 

14. CAPACITY RELEASE (continued)

 

 

14.6 Effect of Acceptance of Bid. KLNG's acceptance of a bid shall,

subject to the other provisions hereof, result in and constitute a

binding agreement (a) between KLNG and the Releasing Customer

pursuant to which the Releasing Customer releases the rights

described in the accepted bid without being released from any of its

obligations under the Existing Service Agreement (the "Release") and

(b) between KLNG and the bidder whose bid was accepted ("Successful

Bidder") pursuant to which the Successful Bidder acquires from KLNG

all of the Releasing Customer's released rights under its firm

service agreement with KLNG that are described in the accepted bid

and the Successful Bidder agrees to perform timely and irrevocably

all obligations under the terms of the service agreement applicable

to the released capacity, in the form of an addendum to the Capacity

Release Umbrella Agreement incorporating the specific terms of the

accepted bid ("New Service Agreement"). KLNG shall tender

electronically to the Successful Bidder a service agreement in the

form of an addendum to the Capacity Release Umbrella Agreement

incorporating the terms of