Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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;

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