Gulfstream Natural Gas System, L.L.C.

Original Volume No. 1

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Effective Date: 05/21/2002, Docket: CP00- 6-004, Status: Effective

Original Sheet No. 199 Original Sheet No. 199 : Effective

 

 

 

GENERAL TERMS AND CONDITIONS

(CONTINUED)

 

 

29.3 Procedure.

 

(a) Transporter shall notify Shipper no later than three

(3) Months prior to the expiration of the Agreement

whether any outstanding bona fide offers exist for

Transporter's capacity at a higher rate and/or for a

longer term which could be satisfied by the

relinquishment of Shipper's capacity. Offers will be

deemed bona fide if made in compliance with Section

27 of these General Terms and Conditions. Any party

that has an outstanding request for firm service

under Section 27 of these General Terms and

Conditions shall be notified and given the

opportunity to specify the rate and term it is

willing to offer for Shipper's capacity. If

Transporter has received any such offers, Transporter

shall inform Shipper of the rate, up to the maximum

rate, and the term, up to a maximum time allowable by

the Commission, that has been offered for Shipper's

capacity. Shipper shall notify Transporter within

ten (10) Business Days after notification whether it

desires to match the rate and term offered, and, if

so, to provide a binding commitment in writing to

Transporter to execute a contract containing said

terms within the next thirty (30) Business Days.

 

(b) If Transporter does not notify Shipper of the

existence of any offers for Shipper's capacity under

Section 29.3(a), Transporter and Shipper may

negotiate the terms and conditions of a new

Agreement; provided, however, that in no event shall

Shipper have any automatic right to renew service at

a negotiated or discounted rate; provided further,

however, Shipper may select the term of the Agreement

after agreeing to pay maximum rates, and all

applicable surcharges.