Dauphin Island Gathering Partners

Original Volume No. 1

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Effective Date: 12/23/1997, Docket: CP97-300-002, Status: Effective

Original Sheet No. 81 Original Sheet No. 81 : Effective

 

(g) Dedicated Lease(s): Identification of the Dedicated

Lease(s) by lease number and their location by Outer

Continental Shelf or State Waters Blocks, and

Shipper's interest therein.

 

6.3 Credit Evaluation:

 

(a) Any person seeking new service from Transporter

under Rate Schedule FT-2 (DI) must provide in

priority order:

 

(i) A copy of Shipper's audited financial

statement for the most recent twelve months or

Annual Report and Form 10-K; or if not

available,

 

(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,