PetroLogistics Natural Gas Storage LLC

Original Volume No. 1

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

Original Sheet No. 102 Original Sheet No. 102

 

1.14 "Force Majeure" shall mean an event of Force Majeure as specified in Section 15.

1.15 "FSS Service Agreement" shall mean the agreement governing service provided under

Rate Schedule FSS.

1.16 "Fuel Reimbursement" shall have the meaning specified in Section 14.

1.17 "GAAP" shall have the meaning assigned in Section 2.3(a)(1).

1.18 "Gas" shall mean natural gas in its natural state, produced from wells, including

casinghead gas produced with crude oil, natural gas from wells and residue gas resulting from

processing both casinghead gas and gas well gas.

1.19 "Interruptible" shall mean that the storage, parking, wheeling, loaning, imbalance trading,

or balancing services which are subject to interruption at any time by PetroLogistics. A Shipper

may be required to withdraw gas held in storage pursuant to Exhibit B of the ISS Service Agreement

or Hub Services Agreement, or provide gas to PetroLogistics, should such capacity or quantities

be required by a higher priority service.

1.20 "Interruptible Storage Inventory" shall mean the quantity of gas in Shipper's account under

Rate Schedule ISS.

1.21 "Intra-day Nominations" shall mean a nomination submitted after the nomination deadline whose

effective time is no earlier than the beginning of the gas day and runs through the end of that Gas Day.

1.22 "ISS Service Agreement" shall mean the agreement governing service provided under Rate Schedule

ISS.

1.23 "Loan Balance" shall mean the quantity of gas, expressed in Dth, that PetroLogistics has loaned

to Shipper, provided that the Loan Balance shall never exceed Shipper's MLQ specified in Exhibit B of

Shipper's Hub Services Agreement.

1.24 "Material Adverse Change" shall mean a material change to (i) the business, property, condition

(financial or otherwise), results of operations, or prospects of Shipper or any Shipper guarantor,

including bankruptcy or other insolvency proceeding; (ii) a downgrade in Shipper's or Shipper's

guarantor's credit rating, as established by Standard & Poor's or Moody's Investments Services, Inc.; or

(iii) the validity or enforceability of the Service Agreement(s), any Shipper guaranty, or the rights

or remedies of PetroLogistics thereunder, which, in the reasonable judgment PetroLogistics, adversely

affects either (A) the ability of Shipper or Shipper's guarantor to perform in a timely manner any of

their respective obligations under the Service Agreement(s) or guaranty, as applicable, or (B) the

rights of PetroLogistics under either the Service Agreement(s) and/or Shipper's guaranty.

1.25 "Maximum Daily Delivery Quantity" or "MDDQ" shall mean the maximum quantity of gas, expressed in

Dths, specified in Shipper's Service Agreement or Exhibit B of the Hub Services Agreement, as

applicable, that Shipper may nominate and that PetroLogistics shall deliver at a Point of Delivery at

constant hourly rates of flow over the course of such Day (excluding Fuel Reimbursement). As determined

by PetroLogistics in its sole and reasonable judgment, the maximum quantity may be delivered at rates of

flow which deviate from constant hourly rates over the course of such Day.

1.26 "Maximum Daily Injection Quantity" or "MDIQ" shall mean the maximum quantity of gas which Shipper

is entitled to inject into the Facility on any Day, excluding Fuel Retention.

1.27 "Maximum Daily Receipt Quantity" or "MDRQ" shall mean the maximum quantity of gas, expressed in

Dths, specified in Shipper's Service Agreement or Exhibit B of the Hub Services Agreement, as

applicable, that Shipper may nominate and that PetroLogistics shall receive at each Point of Receipt

at constant hourly rates of flow