Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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Effective Date: 10/17/2006, Docket: RP06-177-003, Status: Effective

Substitute Second Revised Sheet No. 53 Substitute Second Revised Sheet No. 53 : Effective

Superseding: Second Revised Sheet No. 53

 

(b) a copy of Shipper’s most recent twelve month

audited financial statement or Annual Report and, if applicable,

10-K form;

 

(c) a list of Shipper’s affiliates, including parents

and subsidiaries, if applicable.

 

In the event Shipper cannot provide the information

specified in this section, Shipper shall, if applicable, provide

the requested information for its parent company. A prospective

Shipper need not provide the information requested in this

section if the Shipper prepays for service or posts a letter of

credit in accordance with section 3.5 hereunder.

 

3.5 Shippers Financial Creditworthiness. A Shipper will

be considered creditworthy if it meets the following conditions:

 

(a) For a Shipper requesting service under the RTS,

ITS, HUB or PAL Rate Schedules, Shippers long-term unsecured

debt securities, at the time it enters into a Gas

Transportation Contract (or a precedent agreement therefore) or

a Park and Loan Service Contract and throughout the term

thereof, are rated BBB by Standard & Poor’s Corporation or Baa2

by Moody’s Investor Service; or

 

(b) For a Shipper requesting service under the RTS

Rate Schedule, the Shipper prepays for service or provides a

letter of credit for an amount equal to the sum of the

Transportation Demand Charge and the Transportation Commodity

Charge applicable for the proposed transportation service for a

3 month period or for the duration of the contract, whichever

is shorter, such letter of credit to be issued by a commercial

bank or financial institution located in the United States or

Canada whose long-term unsecured debt securities are rated A or

better by Standard & Poor’s Corporation, A or better by Dominion

Bond Rating Service or A2 or better by Moody’s Investor

Service, Inc.;

 

For a Shipper requesting service under the ITS Rate

Schedule the Shipper prepays for service or provides a letter

of credit for an amount equal to the Transportation Commodity

Charge applicable to the proposed transportation service

multiplied by the Maximum Equivalent Quantity requested for a

3 month period, such letter of credit to be issued by a

commercial bank or financial institution located in the United

States or Canada whose long-term unsecured debt securities are

rated A or better by Standard & Poor's Corporation, A or better

by Dominion Bond Rating Service or A2 or better by Moody's

Investor Service, Inc.; or