Dominion Transmission, Inc.

Third Revised Volume No. 1

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Effective Date: 09/23/2000, Docket: RP00-555-000, Status: Effective

Original Sheet No. 1036 Original Sheet No. 1036 : Effective

 

 

 

 

GENERAL TERMS AND CONDITIONS

Creditworthiness

 

 

then Customer must provide an attestation by its chief

financial officer that the information shown in the

unaudited statements submitted is true, correct and a

fair representation of Customer's financial condition.

Annual reports, 10-K reports, filings with regulatory

agencies and any reports from credit reporting

agencies which are available will be analyzed.

Current financial information must be provided not

less than annually for purposes of determining

creditworthiness. Pipeline shall apply consistent

evaluative practices to determine acceptability of the

Customer's overall financial condition, working

capital and profitability trends.

 

C. Customer must not be operating under any chapter of

the bankruptcy laws and must not be subject to

liquidation or debt reduction procedures under state

laws such as an assignment for the benefit of

creditors, or any informal creditors' committee

agreement. An exception can be made for a Customer

who is a debtor in possession operating under Chapter

XI of the Federal Bankruptcy Act, but only with

adequate assurances that the billing will be paid

promptly as a cost of administration under the federal

court's jurisdiction.

 

D. Customer should not be subject to the uncertainty of

pending liquidation or regulatory proceedings in state

or federal courts which could cause a substantial

deterioration in its financial condition, which could

cause a condition of insolvency, or the ability to

exist as an ongoing business entity.

 

E. No significant collection lawsuits or judgements are

outstanding which would seriously reflect upon the

business entity's ability to remain solvent.

 

F. If any of the events or actions described in Sections

7.1.C., 7.1.D., & 7.1.E. above shall be initiated or

imposed during the terms of service hereunder,

Customer shall provide notification thereof to

Pipeline within two (2) working days of any such

initiated or imposed event or action.