Kinder Morgan Illinois Pipeline LLC
Original Volume No. 1
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Effective Date: 12/01/2007, Docket: RP08- 34-000, Status: Effective
Original Sheet No. 201 Original Sheet No. 201 : Effective
GENERAL TERMS AND CONDITIONS
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decimal place. Converting a Monthly rate to a daily rate is
accomplished by multiplying the Monthly rate by number of Months in
rate period, dividing the result by number of days in rate period
and taking the remainder out to five (5) decimal places and rounding
up or down to KMIP's specified decimal place.
14.20 KMIP'S RIGHT TO TERMINATE A CAPACITY RELEASE
KMIP may elect to terminate a Replacement Shipper's
Agreement with KMIP upon prior written notice of at least thirty
(30) days to the Replacement Shipper, under the following
conditions:
(a) The Releasing Shipper has failed to make timely
payment or maintain credit (or provide adequate assurance of
payment) in accordance in Sections 2.7 and/or 12 of these General
Terms and Conditions and KMIP has suspended or terminated service to
the Releasing Shipper or has provided notice under Section 2.7 which
ultimately results in suspension or termination of service; and
(b) The rate stated in the Replacement Shipper's
Agreement is less than the rate for service under KMIP's contract
with the Original Shipper; provided, however, that a Replacement
Shipper which is creditworthy can continue an existing capacity
release by notifying KMIP that it agrees to pay a rate which it
specifies that equals the lower of: (i) the applicable maximum
rate; or (ii) the same rate as is in the original Agreement between
KMIP and the Releasing Shipper. Alternatively, KMIP and the
Replacement Shipper may agree upon other pricing terms which are
equal to or less than the lower of: (i) the applicable maximum
rate; or (ii) the same rate as is in the original Agreement between
KMIP and the Releasing Shipper, in which case the release shall
continue. Such notification or agreement must be effectuated prior
to the end of the notice period.