Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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Effective Date: 04/15/2010, Docket: RP10-489-000, Status: Effective

THIRD REVISED SHEET NO. 77 THIRD REVISED SHEET NO. 77

Superseding: SECOND REVISED SHEET NO. 77

 

14.3 Remedies For Nonpayment.

 

(a) Charge For Late Payment:

 

Should Shipper fail to pay any or all of the

amount of any bill as herein provided when such amount is

due, Shipper shall pay a Charge for Late Payment which shall

be included by Transporter on the next regular monthly bill

rendered to Shipper. Such Charge for Late Payment shall be

determined by multiplying (a) the unpaid portion of the bill,

by (b) the ratio of the number of days from the due date to

the date of actual payment to 365, by (c) the applicable rate

of interest calculated in accordance with Section 154.501(d) of

the Commission's regulations.

 

Transporter may waive the interest on a Late Payment

made within five Business Days of the due date where Shipper

has diligently paid its prior bills on time, and lateness in

payment is of a nonrecurring nature.

 

(b) Suspension Of Service:

 

If such failure to pay continues for thirty

(30) days after payment is due, Transporter, in addition to

any other remedy it may have under the Gas Transportation

Contract or any Park and Loan Service Contract, may, after any

required application to and authorization by the FERC, suspend

further transportation of