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

(Continued)

 

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.