PetroLogistics Natural Gas Storage LLC

Original Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 06/03/2009, Docket: RP09-577-000, Status: Effective

Original Sheet No. 36 Original Sheet No. 36

 

8. EXPIRATION OF TERM

8.1 At least ten (10) Business Days prior to the end of the term as specified in Exhibit B of Shipper's

Hub Services Agreement, PetroLogistics shall notify Shipper to withdraw all of the IBS gas quantities

held in storage by PetroLogistics for the account of Shipper; provided, however, any Exhibit B of Shipper's

Hub Services Agreement that has a term of ten (10) business days or less shall not require such foregoing

notice but shall be deemed to have been given upon the first day of the primary term or the renewed term of

such Agreement.

PetroLogistics' notice to Shipper may be given verbally, but shall be confirmed in writing via e-mail or

facsimile to the Shipper. Before the end of the term of Exhibit B of Shipper's Hub Services Agreement, the

Shipper must either physically withdraw the gas or indicate to PetroLogistics in writing that it desires to

have PetroLogistics cash out the gas on mutually agreeable terms. If, by midnight on the last Day of the

term of Exhibit B of Shipper's Hub Services Agreement, the Shipper neither has withdrawn the gas nor

indicated in writing to PetroLogistics that it desires to exercise the cash out option, then PetroLogistics may

take, free and clear of any adverse claims, title to such IBS balance quantity as Shipper was required to

withdraw or cash out; provided, however, that if Shipper was unable to withdraw its IBS balance quantity due

to an interruption of Shipper's withdrawal service during the last ten days before termination, Shipper shall

be allowed to withdraw its gas within a reasonable period following the end of the contract term.

8.2 In the event that PetroLogistics retains and takes title to any of Shipper's gas pursuant to

this section, PetroLogistics shall dispose of such gas by auction and shall credit the net proceeds received

from such auction in accordance with the provisions of Section 27 of the General Terms and Conditions of this

FERC Gas Tariff.

9. GENERAL TERMS AND CONDITIONS

The invoice for interruptible balancing service shall reflect the applicable charges set forth

under Section 3 of this Rate Schedule at rates and terms set forth in Exhibit B of Shipper's Hub Services

Agreement. Applicable provisions of the General Terms and Conditions of this FERC Gas Tariff, as such

provisions may be amended from time to time, are hereby incorporated by reference and made a part of this

Rate Schedule IBS, where applicable, and shall supplement the terms and conditions governing service rendered

hereunder, as though stated herein.