Blue Lake Gas Storage Company

First Revised Volume No. 1

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Effective Date: 11/01/2007, Docket: RP08- 17-000, Status: Effective

First Revised Sheet No. 152 First Revised Sheet No. 152 : Effective

Superseding: Original Sheet No. 152

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

If such payment on account or a payment security is

not received within such ten (10) Day suspension

period, then Seller shall no longer be obligated to

continue to provide service to such Customer.

 

Seller shall not be required to commence service, or subject to

the following provisions, to continue to provide service and

may terminate a Service Agreement with any Customer under Rate

Schedule FS having a term of more than one year if Customer, or

its guarantor, fails to maintain a long-term debt rating issued

by either Moody's Investors Service, or Standard and Poor's

Corporation, or Customer's, or its guarantor's, long-term debt

rating issued by Moody's Investors Service or Standard and

Poor's Corporation falls below a rating of at least Baa3

according to Moody's Investors Service or BBB- according to

Standard & Poor's Corporation; provided, however, that any such

Customer that is receiving service shall continue to receive

service for a period of three (3) Months during which Customer

shall have the ability to:

 

(1) attain minimum long-term debt ratings as described above;

or

 

(2) secure a guarantee by a person with a minimum long-term

debt rating as described above, provided further, if

Customer should fail to meet the requirements set forth

within the three (3) Month period, Seller shall have the

right to market the capacity underlying the Service

Agreement(s) in question to other Customers meeting the

requirements as set forth herein.

 

11.6 Interpretation of Laws. Any Agreement shall be interpreted,

performed and enforced in accordance with the laws of the State

of Michigan.

 

11.7 Regulations. Any Agreement, and all terms and provisions herein,

and the respective obligations of the parties thereunder are

subject to valid laws, orders, rules and regulations of duly

constituted authorities having jurisdiction.