Dauphin Island Gathering Partners

First Revised Volume No. 1

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Effective Date: 03/16/1999, Docket: CP98- 6-003, Status: Effective

Original Sheet No. 90 Original Sheet No. 90 : Effective

 

 

(ii) A copy of Shipper's most recent audited financial statement certified

by the Chief Financial Officer or Chief Accounting Officer of the

Shipper (which certificate shall state that such financial statement fairly

represents the financial condition and results of operations of the

Shipper for the period indicated therein) prepared in accordance with

generally accepted accounting principles; and in all cases,

 

(iii) A list of Shipper's affiliates, including parent and subsidiaries, if

applicable.

 

(b) In the event Shipper cannot provide the information in Subsection 6.3(a) above,

Shipper shall, if applicable, provide that information for its parent company.

Transporter shall not be required to perform or to continue service under Rate

Schedule FT-2 (DI) on behalf of any Shipper who is or has become insolvent or

who, at Transporter's request, fails within a reasonable period to demonstrate

credit worthiness; provided, however, such Shipper may receive service under

Rate Schedule FT-2 (DI) if Shipper prepays for such service or furnishes good

and sufficient security, as determined by Transporter in its reasonable discretion,

in an amount equal to the cost of performing the service requested by Shipper

for a three month period. For purposes herein, the insolvency of a Shipper shall

be conclusively demonstrated by the filing by Shipper or any parent entity

thereof (hereinafter collectively referred to in this Subsection 6.3(b) as "the

Shipper") of a voluntary petition in bankruptcy or the entry of a decree or order

by a court having jurisdiction in the premises adjudging the Shipper bankrupt or

insolvent, or approving, as properly filed, a petition seeking reorganization,

arrangement, adjustment or composition of or in respect of the Shipper under the

Federal Bankruptcy Code or any other applicable federal or state law, or

appointing a receiver, liquidator, assignee, trustee, sequestrator (or other similar

official) of the Shipper or of any substantial part of its property, or the ordering

of the winding-up or liquidation of its affairs, with said order or decree

continuing unstayed and in effect for a period of sixty (60) consecutive days.