Central New York Oil And Gas Company, LLC

Original Volume No. 1

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Effective Date: 12/01/2001, Docket: CP00- 61-001, Status: Effective

Original Sheet No. 77 Original Sheet No. 77 : Effective

 

GENERAL TERMS AND CONDITIONS (continued)

 

(g) Certified Statement: A certified

statement that the Customer has, or will

have, by the time of execution of an

Agreement with Seller, title to, or the legal

right to cause to be delivered to Seller, for

Storage, the Gas which is to be delivered to

Seller and facilities or contractual rights

which will cause such Gas to be delivered to

and received from Seller.

 

(h) Credit Evaluation:

 

(1) Customer's Bank References.

 

(2) Customer should submit

year end audited financial statements of

Customer (if available) together with

the latest quarterly report. If audited

financial statements are not available,

Customer should furnish unaudited

financial statements. In such event,

Seller may request additional credit

information.

 

(3) Customer's Affiliates,

including parent, subsidiaries of parent

and of such subsidiaries, and

subsidiaries of Customer.

 

(4) In the event proceedings

have been commenced by or against such

Customer for any relief under any

bankruptcy or insolvency law, or any law

relating to the relief of debtors,

readjustment of indebtedness,

reorganization, arrangement, composition

or extension; or in the event a decree

or order of a court having jurisdiction

in the premises for the appointment of a

receiver or liquidator or trustee or

assignee in bankruptcy or insolvency of

such Customer, or of a substantial part

of its property, or for the winding up

or liquidation of its affairs, shall

have been entered, or any substantial

part of the property of such Customer

shall be sequestered or attached and

shall not be returned to the possession

of such Customer or released from such

attachment within thirty (30) days

thereafter; or in the event such

Customer shall make a general assignment

for the benefit of creditors or shall

admit in writing its inability to pay

its debts generally as they become due,

Customer shall be required to fully

disclose any and all actions regarding

the above described proceedings against

Customer or related parties defined in

(3) above, in its request for service.

 

(5) Any other information

requested by Seller pursuant to Section

11.5 of the General Terms and

Conditions.