Liberty Gas Storage, LLC

Original Volume No. 1

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Effective Date: 04/15/2007, Docket: RP07-357-000, Status: Effective

Original Sheet No. 112 Original Sheet No. 112 : Effective

 

GENERAL TERMS AND CONDITIONS

(b) For standard releases of one year or longer:

- Offers shall be tendered by 12:00 p.m. CCT four Business Days before the

award;

- The bid period shall end at 1:00 p.m. CCT on the Day before timely

nominations are due

(open season is three Business Days) or at 1:00 p.m. CCT on any subsequent

Business Day as specified in Releasing Customer's offer, whichever is elected

by Releasing Customer;

- Evaluation period begins at 1:00 p.m. CCT on the Day the bid period ends,

during which contingency is eliminated, determination of best bid is made, and

ties are broken;

- Evaluation period ends and award is posted if no match is required at

2:00 p.m. CCT the same Day;

- If the Prearranged Customer's bid is not the “best bid,” Liberty shall

allow such Prearranged Customer a Matching Period of thirty (30) minutes from

2:00 p.m. CCT until 2:30 p.m. CCT on the Day the Bid Period ends, or such later

time as specified in the Releasing Customer's offer, to determine whether to

match the “best bid” and to notify Liberty of its decision.

- If a match is required, the award will be posted by 3:00 p.m. CCT.

Liberty will issue a contract within one hour of the award posting (with a new

contract number, when applicable). Nominations for Gas flow are possible

beginning at the next available nomination cycle for the effective date of the

contract. Such nominations will be processed in accordance with the nomination

and scheduling requirements of Section 8 of the General Terms and Conditions;

however, in no circumstance will Gas flow prior to the effective date of the

release as specified in Releasing Customer's offer.

(c) Timeline for Non-standard Releases. If Customer specifies a bid

evaluation methodology other than those stated in Section 4.7 or any special

terms or conditions, the above timelines shall apply; provided, however, one

additional Business Day will be added to the evaluation period. Subsequent

deadlines will be delayed by such additional Business Day, causing Gas flow to

occur at least one Day later than under the standard timelines set forth in

Sections 4.3(a) and 4.3(b).