Wyckoff Gas Storage Company, LLC

Original Volume No. 1

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Effective Date: 12/31/9999, Docket: RP09- 444-000, Status: Accepted

Original Sheet No. 21 Original Sheet No. 21

 

metering facilities at each Point of Receipt and

Delivery. Each Party shall preserve all test data, charts and other

similar records regarding the measurement of Gas delivered hereunder

for a period of not less than two (2) years following the Month of

delivery.

 

Shipper and Transporter recognize and agree that, from time to

time, volumes nominated by Shipper for receipt or delivery may be

displaced or netted out by volumes nominated for receipt or delivery by

other shippers and as such may not be actually physically metered, but

may be metered by measurement facilities of the delivering or receiving

pipeline, as applicable.

 

6.4 Reservoir Pressure. Transporter and Shipper acknowledge

that the pressure that exists in the underground reservoir (“Reservoir

Pressure”) that comprises a part of the Facility will vary as a

function of the total volume of Gas that resides therein from time to

time. The Reservoir Pressure, in turn, will affect the total volume of

Gas that can be injected into or withdrawn from the Facility at any

given point in time. Accordingly, Transporter reserves the right at all

times to adjust the MDIQ and/or MDWQ (and, if applicable, the MHIQ

and/or MHWQ) specified in the Service Agreement to reflect varying

Reservoir Pressures, which adjustments (“Contract Quantity Adjustment”)

may have the effect of increasing or decreasing from time to time the

otherwise applicable MDIQ and/or MDWQ (and, if applicable, the MHIQ

and/or MHWQ); provided however that (i) no such Contract Quantity

Adjustment shall become effective until the later of (A) three (3)

business Days after the receipt by Shipper of written notice from

Transporter advising Shipper of such Contract Quantity Adjustment or

(B) the date upon which such Contract Quantity Adjustment is to become

effective, as specified by Transporter in such notice and (ii) for any

given consecutive 12-month period of the term of the Service Agreement

(or the entire term of the Service Agreement, if such term is for a

period of less than 12 months), the aggregate of all Contract Quantity

Adjustments occurring during such 12-month period shall not have the

effect of reducing the average MDIQ and MDWQ (and, if applicable, the

MHIQ and MHWQ) in effect during such 12-month period below the

otherwise applicable MDIQ and MDWQ (and, if applicable, the MHIQ and

MHWQ).

 

SECTION 7. BILLING AND PAYMENT

 

7.1 Monthly Statement. Transporter shall render to Shipper, on

or before the tenth (10) Day of each Month a statement which sets forth

the charges owed by Shipper to Transporter for the preceding Month’s

Service. The Statement will include (a) the applicable rates; (b) the

quantities being billed at each rate; and (c) documentation sufficient

to support billed quantities. The quantities being billed will be based

on volumes nominated by Shipper and confirmed by Transporter, subject

to Sections 5 and 7.3.

 

7.2 Payment. Unless otherwise agreed, Shipper shall pay by

wire transfer in immediately available funds to Transporter the full

amount due to Transporter under the statements rendered by Transporter

on or before the later of (a) ten (10) calendar Days after Shipper’s

receipt of same, or (b) the twentieth (20th) Day of the issuing Month.

If the Day for payment should fall upon a Saturday, Sunday or Federal

Banking Holiday, then such payment shall be made on the next business

Day. If Shipper fails to pay such amounts when due, then interest shall

accrue on all unpaid amounts from the date due until paid at the FERC-

approved interest rate.

 

7.3 Billing Adjustments. If an error is discovered by either

Transporter or Shipper, in the amount billed in any statement rendered

by Transporter, the Transporter shall use its best efforts to correct

any such billing error within sixty (60) Days of the discovery of such

error. In