Mobile Bay Pipeline Company

Second Revised Volume No. 1

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Effective Date: 02/01/1994, Docket: GT94- 18-000, Status: Effective

Original Sheet No. 98 Original Sheet No. 98 : Effective

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

2) approving as properly filed a petition seeking

reorganization, arrangement, adjustment or

composition of or in respect of the Shipper

under the Federal Bankruptcy Act or any other

applicable federal or state law;

 

3) appointing a receiver, liquidator, assignee,

trustee sequestrator (or other similar

official) of the Shipper or of any substantial

part of its property;

 

4) ordering of the winding-up or liquidation of

its affairs.

 

An exception may be made for a Shipper who is a

debtor in possession operating under Chapter 11 of

the Federal Bankruptcy Act but only with adequate

assurances that Shipper's obligations to Transporter

will be paid promptly as a cost of administration

under the federal court's jurisdiction.

 

(iv) Evaluation of Shipper's on-going business

relationship with Transporter, if any, consideration

being given to delinquent balances being

consistently outstanding for services rendered or

for gas imbalances due Transporter, and payment of

its prior invoices from Transporter according to the

established terms of such invoices and the

associated service agreement(s) and Section 18, as

applicable.

 

(v) Determination of whether Shipper is subject to the

uncertainty of pending liquidation or regulatory

proceedings in state or federal courts or agencies