Panther Interstate Pipeline Energy, L.L.C.

Original Volume No. 1

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

Original Sheet No. 55 Original Sheet No. 55 : Effective

(e) No later than the Business Day on which Transporter

commences service at such Negotiated Rate(s) (or if the day

on which Transporter commences service is not a Business

Day, then no later than the next Business Day after

Transporter commences service), Transporter will file a

tariff sheet advising the Commission of such Negotiated

Rate, stating the name of Shipper, the type of service, the

primary receipt and delivery point(s) applicable to the

service, the volume of the gas to be transported, any other

charges, and specifying in such transportation service

agreement the rate (or the formula for calculating such

rate) with sufficient specificity such that the rate in

effect from time to time can be readily calculated. Either

the tariff sheet must also incorporate a statement that the

transportation service agreement does not deviate from the

form of Service Agreement in any material respect, or

Transporter must file the contract containing a material

deviation.

26.2 Capacity Allocation

(a) To the extent the revenue level pursuant to the Negotiated

Rate provided for in Section 26.1 above, as calculated under

Subsection (b) of this Section 26.2, exceeds the comparable

revenue at the Recourse Rate, the Shipper bidding or paying

such Negotiated Rate(s) shall be treated, for all capacity

allocation purposes, as if the rate(s) bid or paid had been

equal to the Recourse Rate. Any Shipper, existing or new,

paying the Recourse Rate(s) has the same right to capacity

as a Shipper willing to pay a higher Negotiated Rate. If

the Negotiated Rate is higher than the corresponding

Recourse Rate, the Recourse Rate rather than the Negotiated

Rate will be used as the price cap for release capacity

pursuant to Section 11 of these General Terms and Conditions

and for the Right of First Refusal pursuant to Section 7 of

these General Terms and Conditions. Where the Negotiated

Rate(s) results in revenue which is greater than the

Recourse Rate during certain portions of the relevant

evaluation period but less than the revenue at the Recourse

Rate during other portions of the relevant evaluation period

(but the revenue pursuant to the Negotiated Rate(s) equals

or exceeds that which would be generated at the Recourse

Rate for the entire evaluation period), the value of bids

and requests at the Negotiated Rate(s) or rate(s) under a