Freebird Gas Storage, L.L.C.

First Revised Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 10/01/2008, Docket: RP08-304-000, Status: Effective

Original Sheet No. 32 Original Sheet No. 32 : Suspended

 

jurisdiction, of requisite authorization for Freebird to provide the parking

service contemplated hereby and to construct and operate the Gas storage

facilities necessary to provide such parking service and for any connected

pipeline to transport Gas to/from the Point of Injection/Withdrawal necessary

to effect the parking service provided for herein.

 

6.2 Freebird shall have the right to propose to the FERC or any other

governing regulatory body such changes in its rates and terms and conditions

of service as it deems necessary, and the Hub Services Agreement shall be

deemed to include any changes which are made effective pursuant to order or

regulation or provisions of law, without prejudice to Shipper’s right to

protest the same.

 

7. INTERRUPTION OR CURTAILMENT

If due to any cause whatsoever, Freebird’s capability to inject or withdraw

quantities is impaired so that Freebird is unable to inject or withdraw the

quantities provided for in its Hub Services Agreements with Shippers, then

capacity, withdrawals, and/or injections will be allocated according to the

priority of service as set forth in Section 5 of the General Terms and

Conditions of this FERC Gas Tariff.

 

8. EXPIRATION OF TERM

8.1 Withdrawal On or Before End of IPS Service Period. On or before the end

of the primary term or any renewed term of the Shipper’s Interruptible Parking

Service Agreement, Shipper must have physically withdrawn all of the Park

Balance held in storage by Freebird under this Rate Schedule for the account

of Shipper. Except as provided under Section 8.3 below, if such Storage

Inventory remains in the Storage Facility on any Day after the end of such

service period, Freebird shall have the right, at its sole option, to either

(i) attempt to negotiate with Shipper to enter into a new Service Agreement,

on an interruptible basis, related to such quantity of Gas remaining in such

Storage Inventory after the end of the service period (for example, a new IPS

Service Agreement), (ii) take title to the Storage Inventory under the

provisions of Section 8.2 below, and/or (iii) resort to a combination of both

such remedies. Freebird’s election to enter into a new Service Agreement will

not prevent it from subsequently exercising its rights pursuant to Section 8.2

at any time such Storage Inventory remains in the Storage Facility after the

end of the new service period. Freebird’s resort to any remedy under this

Article 8 will not relieve Shipper of its obligation to pay Freebird for any

applicable charges accruing to Shipper’s account before such actions are

taken.

 

8.2 Transfer of Title. Pursuant to the above-stated provisions of Section

8.1, but subject to Section 8.3 below, at Freebird’s sole option and demand,

Shipper shall transfer title to its Storage Inventory to Freebird, free and

clear of all liens, encumbrances, and adverse claims of any kind, at a price

per Dth equal to the Current Market Price of such Gas, less Freebird's costs

related to Shipper’s failure to timely remove its Gas, with "Current Market

Price" being measured on the date on which Freebird liquidates Shipper’s

Storage Inventory and which is the lesser of (A) the NYMEX Prompt Month

settlement price, as adjusted for the applicable basis differential, and (B)

the "balance of month" market price as reflected by Intercontinental Exchange

("ICE") (or the open market price, if ICE has no relevant balance of month

price information available on a timely basis.8.3 Force Majeure. The

provisions of Sections 8.1 and 8.2 are subject to the provisions of this

Section 8.3. To the extent Shipper is unable to withdraw the Storage

Inventory under a Service Agreement before the end of the applicable service

period by reason of a suspension of withdrawal rights during the service

period caused by Force Majeure declared by Freebird or other curtailment of

such rights declared by