Gulf Crossing Pipeline Company LLC

Original Volume No. 1

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Effective Date: 12/20/2008, Docket: RP09-61-000, Status: Effective

Original Sheet No. 503 Original Sheet No. 503

 

GENERAL TERMS AND CONDITIONS

Section 5

(Continued)

 

 

for all interruptible transportation charges. If the

Customer has not contracted for interruptible

transportation on Gulf Crossing during the previous

12 month period, Gulf Crossing will establish its

initial security requirements based upon the

Customer's anticipated usage for a three (3) month

period as determined by the Customer and Gulf

Crossing's marketing representative. Imbalance Gas

security shall be determined as shown in Section 5.3

below. Gulf Crossing will, upon prior written

notice, pay interest on prepayments at the FERC

interest rate consistent with Section 154.501 of the

Commission's regulations.

 

(iii) Letter of Credit: Shipper may post a Letter of Credit

(LC) in a form acceptable to Gulf Crossing. A form

of LC is available on Gulf Crossing's website. For

Existing Capacity, the amount of LC must be

sufficient to cover the value of three (3) months'

worth of applicable transportation charges. The

amount of prepayment for firm transportation service

agreements must be sufficient to cover the value of

up to three (3) months' of applicable transportation

charges. Security for all interruptible services

shall be based upon the highest three (3) months of

usage during the previous twelve (12) month period

for all interruptible transportation charges. If the

Customer has not contracted for interruptible

transportation on Gulf Crossing during the previous

12 month period, Gulf Crossing will establish its

initial security requirements based upon the

Customer's anticipated usage for a three (3) month

period as determined by the Customer and Gulf

Crossing's marketing representative. For imbalance

Gas security shall be determined as shown in Section

5.3 below.

 

(iv) Any other security mutually agreed upon by Customer

and Gulf Crossing. Such other security shall be

accepted on a nondiscriminatory basis.