Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

Effective Date: 01/27/2009, Docket: RP09-283-001, Status: Effective

SEVENTH REVISED SHEET NO. 50B SEVENTH REVISED SHEET NO. 50B

Superseding: SIXTH REVISED SHEET NO. 50B

2.40 Negotiated Rate Formula. The term "Negotiated

Rate Formula" shall mean a rate formula that Iroquois and

Shipper have agreed will apply to service under Rate Schedule

RTS, ITS, or HUB which results in a rate where, for all or a

portion of the contract term, one or more of the individual

components of such rate exceeds the maximum rate, or is less

than the minimum rate, for such component set forth in

Transporter's tariff for service under Rate Schedule RTS, ITS,

or HUB, as applicable. Any Gas Transportation Contract,

entered into after November 16, 1997, that provides for service

under Rate Schedule RTS, ITS, or HUB at a rate other than the

applicable maximum rate shall contain a provision stating the

mutual agreement of the parties as to whether it is an agreement

for a discounted rate or for a rate pursuant to a Negotiated

Rate Formula.

2.41 Recourse Rate. The term "Recourse Rate" shall

mean the applicable maximum rate that would apply to the service

but for the rate flexibility allowed under Sections 28 and 32

hereof.

2.42 Electronic Bulletin Board (EBB). The term

"Electronic Bulletin Board" and its abbreviation "EBB" shall

mean Iroquois' method of providing the "Customer Activities

Website"/"Informational Postings" data as defined by NAESB.

2.43 Reserved for future use

2.44 NAESB. North American Energy Standards Board.

2.45 Segment. The term "Segment" shall mean a portion

of Transporter's pipeline system no smaller than that located

between any Receipt Point and the nearest upstream or downstream

Delivery Point where such segment can be clearly defined.

2.46 NAESB WGQ. North American Energy Standards Board

Wholesale Gas Quadrant.

2.47 Lateral. The term “Lateral” shall mean any

pipeline extension of Transporter (other than a mainline

extension) built from Transporter’s existing pipeline facility

to deliver gas to one or more customers, including new delivery

points and enlargements or replacements of existing laterals

pursuant to Section 19 of the general terms and conditions.