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. 104 Original Sheet No. 104 : Suspended
2.37 "Potential Replacement Shipper" means any individual or entity that
desires to assume any released rights to capacity of Releasing
2.38 "Psia" means pounds per square inch absolute.
2.39 "Psig" means pounds per square inch gauge.
2.40 "Qualified Institution" means the domestic office of a commercial bank or
trust company that is not an Affiliate of Shipper and that has assets of at
least $10 billion and credit ratings of at least A– by Standard & Poor’s
Corporation and at least A3 by Moody’s Investor Service.
2.41 "Qualified Shipper" means a party who (A) has been placed on Freebird’s
approved customer list because such party: (i) has satisfied Freebird's
creditworthiness requirements as outlined in this Gas Tariff (which
creditworthiness shall be reevaluated and updated as often as Freebird deems
necessary in its reasonable discretion) or has provided or caused to be
provided Performance Assurance as necessary, (ii) has provided all information
required under this Gas Tariff when requested, and (iii) has executed and
delivered a relevant Service Agreement (or Capacity Release Umbrella
Agreement, if applicable) or, with regards to a potential new customer wishing
to bid in an open season, such party agrees to execute a Service Agreement as
required under the open season procedures of this Tariff, and (B) remains on
Freebird’s approved customer list because such party (i) continues to meet
Freebird’s creditworthiness requirements or to provide or have provided on its
behalf Performance Assurance as necessary, (ii) has an effective Service
Agreement (and Capacity Release Umbrella Agreement, if applicable) on file
with Freebird, and (iii) has not been suspended from the approved customer
list because of a Shipper default, including, without limitation, failure to
pay all or any part of a bill for service.
2.42 "Reference Price" means either the Daily Reference Price or the Monthly
Reference Price, as applicable, and calculated as follows. "Daily Reference
Price" for the Freebird Storage Facility will be the midpoint price for
"Tennessee, La., 500 Leg" reported in Platts Gas Daily (or any successor
publication), provided if the relevant Point of Injection/Withdrawal is not
that point where Freebird interconnects with the pipeline facilities of
Tennessee Gas Pipeline Company (the "Tennessee Point"), such Daily Reference
Price will be adjusted by the transportation costs between the relevant Point
of Injection/Withdrawal and the Tennessee Point. The "Monthly Reference
Price" for the Freebird Storage Facility will be the arithmetic average of the
applicable Daily Reference Prices for each Day of the relevant 30 day period,
including weekend deals. If at any time the Daily midpoint prices for the
applicable reference points are not published in the manner previously
described, the Substitute Reference Price shall then become the "Daily
Reference Price" or "Monthly Reference Price," as applicable.
2.43 "Releasing Shipper" means a Shipper who has agreed to release some or all
of its rights under its Firm Storage Service Agreement.
2.44 "Replacement Shipper" means a Shipper who has assumed any released rights
to capacity of a Releasing Shipper.
2.45 "Service Agreement" means a Firm Storage Service Agreement, an
Interruptible Storage Service Agreement, a Hub Services Agreement or a
Capacity Release Umbrella Agreement.