Panther Interstate Pipeline Energy, L.L.C.

Original Volume No. 1

Effective Date: 02/01/2004, Docket: CP03-338-001, Status: Effective

Original Sheet No. 28 Original Sheet No. 28 : Effective

exception may be made for a Shipper who is a debtor in

possession operating under Chapter XI of the Federal

Bankruptcy Act if Transporter is assured that the service

billing will be paid promptly as a cost of administration

under the federal court jurisdiction, based on a court order

in effect, and if the Shipper is continuing and continues in

the future actually to make payment.

(e) Whether Shipper is subject to any lawsuits or judgments

outstanding which could materially impact its ability to

remain solvent.

(f) Whether Shipper has or has had any delinquent balances

outstanding for services provided previously by Transporter

and whether Shipper is paying and has paid its account

balances according to the terms established in its

transportation service agreements (excluding amounts as to

which there is a good faith dispute).

(g) The nature of the Shipper's business and the effect on that

business of general economic conditions and economic

conditions specific to it, including Shipper's ability to

recover the costs of Transporter's services through filings

with regulatory agencies or otherwise to pass on such costs

to its customers.

(h) Any other information, including any information provided by

Shipper, that is relevant to Shipper's current and future

financial strength and Shipper's ability to make full

payment over the term of the contract.

7. TERMINATION OF AGREEMENTS

7.1 Termination of Long Term FT Agreements: Any Shipper with a Long

Term (having a term of twelve or more months) FT Agreement at the

maximum applicable tariff rate shall be eligible to exercise a

right of first refusal to continue to receive service pursuant to

the procedure outlined in this Section. If a Shipper desires to

invoke its right of first refusal, it must notify Transporter at

least ten (10) months prior to the expiration of such FT Agreement

by a means provided under section 16 of these General Terms and

Conditions, or it will waive such rights. If such a notice is

received by Transporter, the following procedures will apply: