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

Shipper.

 

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.