Petal Gas Storage, L. L. C.
Original Volume No. 1
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Effective Date: 01/09/2010, Docket: RP10-229-000, Status: Effective
Second Revised Sheet No. 14 Second Revised Sheet No. 14
Superseding: First Revised Sheet No. 14
FSS RATE SCHEDULE
FIRM STORAGE SERVICE (Continued)
9. CURTAILMENT
If, due to any cause whatsoever, Petal's capability to receive or deliver
volumes is impaired so that Petal is unable to receive or deliver the volumes
provided for in its FSS Agreements with Customers, then capacity, withdrawals
and/or injections will be allocated according to the priority of service as set
forth in Section 4 of the General Terms and Conditions of this Tariff.
10. RIGHT OF FIRST REFUSAL
10.1 Right of First Refusal at End of Contract Term. Petal may discontinue
service to a Customer at the end of the primary term or any renewed term
of the Customer's FSS Agreement unless (i) the Customer exercises any
applicable renewal right in the FSS Agreement; or (ii) in the case of a
long term FSS Agreement, the Customer exercised its right of first
refusal for the capacity covered by the FSS Agreement by matching the
terms offered to Petal during an open season for such capacity by any
qualified prospective successor customer. Petal shall retain its right
to require a minimum rate for bids during any such open season. In
determining which bid for the capacity is the highest, Petal will use
the present value formula set forth in Section 4 of the General Terms
and Conditions of Petal's Tariff. A "long term FSS Agreement," as that
term is used in this Section is an FSS Agreement having a primary term
greater than or equal to five (5) years. A prospective successor
customer is "qualified," within the meaning of this section, if such
prospective successor customer meets the creditworthiness criteria set
forth in Section 3 of the General Terms and Conditions of this Tariff.
10.2 Exercise of Right of First Refusal. Upon expiration of the open season,
Petal will communicate the terms of the highest bid received from a
qualified successor customer to the current capacity holder, who may
elect, within ten (10) Business Days or such greater time as Petal may
specify, to execute a renewal FSS Agreement upon the same terms. If the
current capacity holder does not elect to match the terms of such highest
bid, its FSS Agreement will expire at the conclusion of its term, and
Petal may enter into a new