Gas Transmission Northwest Corp.

Third Revised Volume No. 1-A

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Effective Date: 01/01/2007, Docket: RP06-407-008, Status: Pending

Substitute Third Revised Sheet No. 134 Substitute Third Revised Sheet No. 134 : Pending

Superseding: Second 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 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. GTN will set

credit limits at 10% of a Shipper's Tangible Net Worth

(defined as Shipper's total assets, less liabilities,

less intangible assets, less off-balance sheet items).

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 one of the

following alternatives: a guarantee acceptable to GTN,

collateral (i.e., cash or letter of credit), or

security as described in (i) through (iv) below. GTN

may deny subsequent requests to substitute credit

assurances on a not unduly discriminatory basis and

will provide Shipper with a written explanation of any

denial of a request to substitute credit assurances.

 

 

 

 

 

 

 

 

 

 

(Continued)