Scg Pipeline Inc.

Original Volume No. 1

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Effective Date: 11/01/2003, Docket: RP03-611-000, Status: Effective

Original Sheet No.58 Original Sheet No.58 : Superseded

 

 

GENERAL TERMS AND CONDITIONS

(continued)

 

(a) Shipper shall provide current financial statements, (balance sheet,

income statement and statement of cash or cash flow), annual reports, 10-K

reports or other filings with regulatory agencies which discuss Shipper's

financial status; a list of all corporate affiliates, parent companies and

subsidiaries; and any reports from credit reporting and bond rating agencies

which are available. Pipeline shall determine the acceptability of the

Shipper's overall financial condition. If audited financial statements are

not available, then Shipper’s Chief Financial Officer should provide

attestation that the information shown in the unaudited statement is true,

correct and a fair representation of the Shipper’s financial condition.

 

(b) Shipper shall provide a bank reference and at least two trade

references. The results of reference checks and any credit reports submitted

in (a) above must show that Shipper's obligations are being paid on a prompt

basis.

 

(c) Shipper shall confirm in writing that Shipper is not operating under any

chapter of the bankruptcy laws and is not subject to liquidation or debt

reduction procedures under state laws, such as an assignment for the benefit

of creditors, or any informal creditors' committee agreement. An exception

can be made for a Shipper who is a debtor in possession operating under

Chapter 11 of the Federal Bankruptcy Act but only with adequate assurance that

the service billing will be paid promptly as a cost of administration under

the federal court's jurisdiction.