Panhandle Eastern Pipe Line Company, LP
THIRD REVISED VOLUME NO. 1
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Effective Date: 06/30/2004, Docket: RP04-321-000, Status: Effective
Original Sheet No. 228 Original Sheet No. 228 : Effective
GENERAL TERMS AND CONDITIONS
(Continued)
(iii) During the Posting Period Panhandle shall
accept requests for all or a portion of the
Shipper's service rights under the Long-Term
Agreement from any prospective Shipper that
has submitted a valid request for service
rights in accordance with the provisions of
Section 6.1 hereof.
(iv) If, during the Posting Period, Panhandle
receives an acceptable offer for all or a
portion of the service rights under
Shipper's Long-Term Agreement, Panhandle
shall notify Shipper in writing of the offer
having the greatest economic value, as
defined in Section 7.1(b) hereof; provided,
that for purposes of value comparisons under
this section the rate utilized shall be
limited to the Maximum Rate that can be
charged to the existing Shipper. If Shipper
elects to match the offer, Shipper shall
notify Panhandle of such election in writing
within 30 Days after receiving notice from
Panhandle and shall execute a new Service
Agreement matching the offer within 30 days
after Panhandle has tendered the Service
Agreement. If Shipper elects not to match
the offer or does not execute the Service
Agreement within 30 days, Panhandle will
tender a Service Agreement to the
prospective Shipper submitting the offer
having the greatest economic value. If the
Service Agreement is not executed within 30
days, the request for service rights shall
expire without prejudice to the prospective
Shipper's right to submit a new request for
service rights. Panhandle shall then notify
the Shipper in writing of the acceptable
offer, if any, having the next greatest
economic value in accordance with the
provisions of this Section 7.2(b)(iv). If
there is no other acceptable offer, the
Shipper may continue service in accordance
with Section 7.2(b)(v).