Gas Transmission Northwest Corp.
Third Revised Volume No. 1-A
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Effective Date: 01/01/2007, Docket: RP06-407-000, Status: Effective
Second Revised Sheet No. 134 Second Revised Sheet No. 134 : Effective
Superseding: First Revised Sheet No. 134
TRANSPORTATION GENERAL TERMS AND CONDITIONS
(Continued)
18. OPERATING PROVISIONS (Continued)
18.3 Creditworthiness (Continued)
(A) Creditworthiness for Firm Transportation Service (Continued)
(2) (Continued)
(b) Shipper will be deemed to be non-creditworthy if 1) it
is rated below a BBB/Baa2 equivalent standard by any
rating agency or if its credit limit is insufficient to
cover Shipper's total contractual obligation, as
described in Paragraph 18.3 (G) of these Transportation
General Terms and Conditions of Service, or 2) if
Shipper's credit limit as determined by GTN is
insufficient to cover Shipper's total contractual
obligation. GTN will inform Shipper in writing as to the
reasons Shipper has been deemed non-creditworthy.
If Shipper does not establish or maintain
creditworthiness as described above, Shipper has the
option of receiving transportation service under this
FERC Gas Tariff by providing to GTN a guarantee
acceptable to GTN, collateral (i.e., cash or letter of
credit), or security as described in (i) through (iv)
below. GTN may not unreasonably prevent a shipper from
later switching the type of credit alternative that it
provides.
(i) Guarantee: Shipper may obtain a guarantee of
financial performance in a form satisfactory to GTN
and for the term of the Gas Transportation
Agreement from a corporate affiliate of the Shipper
or a third party, either of which meets the
creditworthiness standard discussed above. For
these Shippers, the credit limit will be based upon
the financials of the guarantor. A form of
guarantee is available on GTN's Internet website.
If during the term of service the guarantor does
not meet the creditworthiness standards discussed
above, then GTN may request additional alternatives
as described in (i) through (iv) below.
(Continued)