Portland Natural Gas Transmission System
Second Revised Volume No. 1
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Effective Date: 09/01/2006, Docket: RP06-449-000, Status: Effective
Original Sheet No. 312 Original Sheet No. 312 : Effective
GENERAL TERMS AND CONDITIONS (Continued)
(2) If Shipper is part of a consolidated group a copy of such
consolidated group's most recent annual and quarterly interim financial
statements, audited (if available).
(3) A list of all corporate affiliates, parent companies and
(4) Any available reports from credit rating and bond rating
(5) The most recent rating of Shipper's long-term unsecured
debt securities, by Standard Poor's Corporation, Dominion Bond Rating Service,
or Moody's Investor Service.
(6) A bank reference and at least three (3) trade references.
(7) A statement of the legal composition of the business (i.e.,
corporation, limited partnership, etc.).
(8) A statement of the length of time the business has been in
(9) Verification that Shipper is not operating under any
chapter of the bankruptcy laws and is not subject to liquidations or debt
reduction procedures under state laws, such as an assignment for the benefit
of creditors, or any informal creditors' committee agreement. In the event
that Shipper is a debtor in possession operating under Chapter 11 of the
Federal Bankruptcy Act, Shipper shall so state. In such event, Shipper's
request for service shall be contingent upon Shipper also providing adequate
assurance that the billing will be paid promptly as a cost of administration
under the federal court's jurisdiction.
(10) Verification that Shipper is not subject to the
uncertainty of pending liquidation or regulatory proceedings in state or
federal courts which could cause a substantial deterioration in its financial
condition, which could cause a condition of insolvency, or the inability to
exist as an ongoing business entity.
(11) Verification that no significant collection lawsuits or
judgments are outstanding which would seriously reflect upon the Shipper's
ability to remain solvent.