Freebird Gas Storage, L.L.C.
First Revised Volume No. 1
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Effective Date: 10/01/2008, Docket: RP08-304-000, Status: Effective
Original Sheet No. 41 Original Sheet No. 41 : Suspended
have not been withdrawn / re-delivered to Freebird
after the end of the new service period. Freebird’s resort to any remedy
under this Article 7 will not relieve Shipper of its obligation to pay
Freebird for any applicable charges accruing to Shipper’s account before such
actions are taken.
7.2 Transfer of Title. Pursuant to the provisions of Section 7.1 above, but
subject to Section 7.3 below, at Freebird’s sole option, Freebird shall (A) in
the case of IBS Gas quantities improperly left in the Storage Facility: (i)
take title to such Gas quantities 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 outstanding IBS Gas quantities and
which is the greater 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); and/or (B) in the case of IBS Gas quantities
borrowed by Shipper but not returned: charge Shipper, and Shipper shall pay
within ten (10) Days of Freebird’s invoice, for a quantity of Gas thermally
equivalent to the IBS Gas quantities that were not returned to Freebird, at a
price per Dth equal to the Current Market Price of such Gas (as defined above)
plus Freebird’s costs related to Shipper’s failure to timely return the loaned
Gas.
7.3 Force Majeure. The provisions of Sections 7.1 and 7.2 are subject to the
provisions of this Section 7.3. To the extent Shipper is unable to deliver to
the Storage Facility IBS Gas quantities borrowed by Shipper before the end of
the applicable service period by reason of suspension of injection rights
during the service period caused by Force Majeure declared by Freebird or
other curtailment of injection rights declared by Freebird, Shipper shall be
allowed to nominate to deliver to the Storage Facility all remaining IBS Gas
quantities under such Service Agreement, on an interruptible basis and in
accordance with Shipper’s MDIQ, and Freebird shall refrain from exercising its
rights under Sections 7.1 and 7.2, for a reasonable time after the expiry of
such Force Majeure or curtailment period (i.e., the same number of Days as
Shipper’s injection rights were subject to such Force Majeure and/or
curtailment period during the initial service period), provided, however, that
after such reasonable time the terms of Sections 7.1 and 7.2 shall once again
apply. Likewise, to the extent Shipper is unable to withdraw IBS Gas
quantities 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 withdrawal rights
declared by Freebird, Shipper shall be allowed to nominate to remove all
remaining inventories under such Service Agreement, on an interruptible basis
and in accordance with Shipper’s MDWQ, and Freebird shall refrain from
exercising its rights under Sections 7.1 and 7.2, for a reasonable time after
the expiry of such Force Majeure or curtailment period (i.e., the same number
of Days as Shipper’s withdrawal rights were subject to such Force Majeure
and/or curtailment period during the service period), provided, however, that
after such reasonable time the terms of Sections 7.1 and 7.2 shall once again
apply.
8. GENERAL TERMS AND CONDITIONS
Applicable provisions of the General Terms and Conditions of this FERC Gas
Tariff, as such provisions may be amended from time to time, are hereby
incorporated by reference and made a part of this Rate Schedule IBS, where
applicable, and shall supplement the terms and conditions governing service
rendered hereunder, as though stated herein; provided, however, that in the
event of any inconsistency, the terms of this Rate Schedule IBS shall
control.