Crossroads Pipeline Company

Original Volume No. 1

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Effective Date: 02/22/1997, Docket: RP97-184-000, Status: Effective

Second Substitute Original Sheet No. 36 Second Substitute Original Sheet No. 36 : Effective

Superseding: Substitute Original Sheet No. 36

 

6.5 Valid Requests for Transportation: A Request for Transportation

shall not be deemed to have been received and accepted by

Crossroads until Crossroads has received in writing the

information required or requested under Sections 6.2 and 6.3, if

applicable, herein. If Crossroads requests additional information

or assurances in accordance with this Section 6, and such

information is provided within seven (7) days of such request,

Shipper's Request for Transportation will be deemed to have been

received when the information set forth in Sections 6.2 and 6.3

was received. Otherwise Shipper's Request for Transportation will

be deemed to have been received when such additional information

or assurances actually were received in writing by Crossroads.

 

7. CREDITWORTHINESS

 

Prior to execution of a Service Agreement providing for

service under Rate Schedule FT-1, IT-1, GPS/GLS, Shipper shall be

required to establish creditworthiness with Crossroads.

Crossroads shall not be required to execute a Service Agreement

providing for service under Rate Schedule FT-1, IT-1, GPS/GLS on

behalf of any Shipper who fails to meet Crossroads' standards for

creditworthiness or to initiate or continue service to a Shipper

who fails to meet Crossroads' standards for creditworthiness or

to continue service to a Shipper who fails to pay Crossroads for

transportation service as provided for in Shipper's Service

Agreement.

 

For purposes herein, the determination of Shipper's

creditworthiness shall be based upon: (a) a credit rating of

investment grade, defined as a rating of at least "BBB-" by

Standard & Poor's Corporation, or a rating of at least "Baa3" by

Moody's Investors Service; or (b) if Shipper is not rated by

Standard & Poor's or Moody's, an equivalent rating of investment

grade as determined by Crossroads based on the financial rating

methodology, criteria and ratios for the industry of the

prospective Shipper as published by the above rating agencies

from time to time. In the event that Crossroads determines the

Shipper does not have an equivalent rating of investment grade,

Shipper may, at its own expense, obtain a private rating from

Standard & Poor's or Moody's, or, as an alternative, request that

an independent accountant or an independent financial consultant,

mutually acceptable to Shipper and Crossroads, prepare an

equivalent evaluation based on the financial rating methodology,

criteria and ratios for the industry of the prospective Shipper

as published by the above rating agencies from time to time.

 

If Shipper fails to establish creditworthiness when required

to do so, Shipper may still receive service under this Rate

Schedule provided it either (a) furnishes