UGI LNG, Inc
Original Volume No. 1
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Effective Date: 06/01/2009, Docket: RP09-365-000, Status: Effective
Original Sheet No. 66 Original Sheet No. 66
(c) Company shall not be required to perform and shall have the
ability to suspend service for any Customer who is or has become
insolvent, fails to demonstrate credit worthiness under Section
19.1, fails to timely provide information to Company as requested
in Section 19.1(b), or fails to demonstrate ongoing credit
worthiness as a result of credit information obtained pursuant
to Section 19.2(b); provided, however, Customer may receive or
continue to receive service if Customer either (i) furnishes and
maintains for the term of the applicable service agreement a
guaranty in form and substance satisfactory to Company,
executed by a person Company deems credit worthy, of Customer's
performance of its obligations to Company, or (ii) furnishes
other form of security as Customer may agree to provide and as
may be acceptable to Company.
(d) In the event such Customer fails to immediately furnish
security under Section 19.2(c)(i) or Section 19.2(c)(ii), Company
may, without waiving any rights or remedies it may have, and
subject to any necessary authorizations, suspended further
service until security is received.
The insolvency of a Customer shall be evidenced by the filing
of such Customer or any parent entity thereof of a voluntary
petition in bankruptcy or the entry of a decree or order
by a court having jurisdiction in the premises adjudging the
Customer or any parent entity thereof bankrupt or insolvent,
or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of, or in respect of the
Customer or any parent entity thereof under the Federal
Bankruptcy Act or any other applicable federal or state law,
or appointing a receiver, liquidator, assignee, trustee,
sequestrator, (or similar official) of the Customer or
any parent entity thereof or of any substantial part of its
property, or the ordering of the winding-up or liquidation of
its affairs, with said order or decree continuing unstayed and
in effect for a period of sixty (60) consecutive days.
20. PROCEDURES FOR ALLOCATING AVAILABLE FIRM LNG STORAGE CAPACITY
In the event firm LNG storage capacity on Company's system becomes
available other than through the applicable provisions of
Section 18, Company shall post on its EBB all relevant terms and
conditions pertaining to such capacity and will solicit bids for at
least the following periods:
(a) one business day for firm capacity which will be available
for one month or less;
(b) five business days for firm capacity which will be
available for more than one month but less than 12 months; and