Millennium Pipeline Company, L. L. C.
Original Volume No. 1
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Effective Date: 11/01/2009, Docket: RP10-17-000, Status: Effective
First Revised Sheet No. 84 First Revised Sheet No. 84
Superseding: Original Sheet No. 84
GENERAL TERMS AND CONDITIONS
Agreement within two business days after such Service Agreement is tendered
by Transporter, (or such later date established by Transporter through notice
to Shipper), Transporter will then award the capacity to the next acceptable
bidder on the basis of the highest net present value, as described in this
Section. Shippers failing to return such Service Agreement may be removed
from Transporter's approved bidders list for six months, or less than six
months if agreed to in writing by the Transporter. Nothing herein will
restrict Transporter from pursuing any other remedies it may have against a
Shipper failing to execute and return a Service Agreement tendered by
Transporter. If Transporter finds no other bid acceptable, Transporter will
post the capacity again for a new round of bids.
(f) Adjustment to Bid Rate. When the rate bid by a Bidder is at least
for the Maximum Base Reservation Charge, that bid rate will be subject to
adjustment in accordance with the procedures of this Tariff and of the
Commission, unless otherwise clearly stated in the Service Agreement. When
the rate bid by a Bidder is lower than the Maximum Base Reservation Charge,
that bid rate will be subject to adjustment in accordance with the procedures
of this Tariff and of the Commission by an amount proportionate to the
increase or decrease in the Maximum Base Reservation Charge, unless otherwise
clearly stated in the Service Agreement.
(g) Bona Fide Offers. All bids submitted for capacity pursuant to
this Section must be bona fide offers, and must be submitted electronically
through Transporter's EBB or as otherwise set forth in this Tariff. All
Service Agreements entered into as a result of such bids must reflect an arms
length transaction between the bidder and Transporter.
(h) Relation to Section 11 of the General Terms and Conditions. With
regard to the newly available capacity subject to bidding under the terms of
this Section, acceptable bids under this Section that satisfy Transporter's
stated minimum terms and conditions will have priority over any potential
claims for that capacity under the flexible receipt and delivery point
authority described at Section 11 (Flexible Primary and Secondary Receipt and
Delivery Points) of the General Terms and Conditions.