Mississippi Canyon Gas Pipeline, LLC

First Revised Volume No. 1

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Effective Date: 03/01/2009, Docket: RP09-329-001, Status: Effective

Substitute Third Revised Sheet No. 128 Substitute Third Revised Sheet No. 128

Superseding: Second Revised Sheet No. 128

GENERAL TERMS AND CONDITIONS (cont'd)

19.6 Offer and Bid Procedures - (cont'd)

(d) Prearranged Release: A RELEASING SHIPPER must identify in

its Offer any prearranged ACQUIRING SHIPPER. Such ACQUIRING

SHIPPER must meet all of the requirements established for

bidders pursuant to subsection 19.6(e) and the prearranged

ACQUIRING SHIPPER shall submit its bid, if required, in

accordance with subsections 19.6(f)-(g). If the prearranged

ACQUIRING SHIPPER tenders a bid for the offered capacity

which is (a) a Prearranged Release for the maximum charge

applicable to the capacity being released provided that the

release term is more than one Year; (b) a Short-term

Prearranged Release (31 Days or less); (c) a release to an

asset manager (AMA), as defined by FERC regulations at 18

CFR 284.8; or (d) releases to a marketer participating in a

state-regulated retail access program), as defined by FERC

regulations at 18 CFR 284.8, and that bid is for the full

capacity and term offered by the RELEASING SHIPPER and

satisfies all of the requirements of subsections 19.6(e)-

(g), that bid shall be deemed the "best bid". Transporter

shall post on its Interactive Internet Website by 9:00 a.m.

CCT the day of nomination the identity of the prearranged

ACQUIRING SHIPPER, and the terms upon which the capacity was

released for informational purposes only.

In all other situations, including prearranged releases

that are greater than 31 days, the prearranged ACQUIRING

SHIPPER's bid shall constitute the minimum bid price for

all other bidders, and shall be posted on the RELEASING

SHIPPER's Offer as such. If Transporter does not receive

any better bid meeting the essential terms of RELEASING

SHIPPER's Offer by the end of the posting period, the

prearranged ACQUIRING SHIPPER's bid shall be deemed the

best bid. If Transporter does receive a better bid meeting

the essential terms of RELEASING SHIPPER's Offer by the end

of the posting period, the prearranged ACQUIRING SHIPPER

shall have the right to match the terms of the better bid,

provided the prearranged ACQUIRING SHIPPER gives notice to

Transporter pursuant to Sections 19.9 and 19.10 that it

will match the essential terms of the better bid. If the

prearranged ACQUIRING SHIPPER's bid matches the better bid,

the prearranged ACQUIRING SHIPPER shall be deemed to have

made the best bid.

"Essential terms" for all purposes of Section 19.6 for bids

or for the matching of any bid shall be determined solely by

the RELEASING SHIPPER consistent with the terms posted by

the RELEASING SHIPPER for such bids or the matching of any

such bid. In the event of a dispute with respect to whether

a bid has met the essential terms posted by RELEASING

SHIPPER or whether prearranged ACQUIRING SHIPPER has matched

a bid, Transporter shall bear no liability. Where a dispute

arises with respect to a