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. 111 Original Sheet No. 111 : Suspended
3.4 Information Requirements. By its submission to Freebird of information
regarding itself, a Shipper represents to Freebird that such information is
true and correct in all material respects and if such information is provided
with regard to Shipper’s Credit Support Provider, that such information is
true and correct in all material respects to the best of Shipper’s knowledge.
Each request for service shall include the following
(a) Potential Shipper’s name, address, representative and telephone number.
(b) A statement as to whether the requesting party is a local distribution
company ("LDC"), an intrastate pipeline company, an interstate pipeline
company, a marketer/broker, a producer, an end user or other type of entity
(which other entity must be described).
(c) Type of service requested.
(d) Quantity requested:
(1) MDIQ, MDWQ and MSQ requested (stated in Dth).
(2) Maximum Park Quantity (for Rate Schedule IPS).
(3) Maximum Loan Quantity (for Rate Schedule ILS).
(4) Maximum Balance Quantity (for Rate Schedule IBS).
(e) Price offered by Potential Shipper for each service requested.
(f) Term of service, including the date service is requested to commence
and the date service is requested to terminate.
(g) Evidence of creditworthiness. Acceptance of a service request is
contingent upon a satisfactory credit appraisal by Freebird. A Potential
Shipper will be deemed creditworthy if (i) its long-term unsecured debt
securities are rated at least BBB- by Standard & Poor’s Corporation and at
least Baa3 by Moody’s Investor Service (provided, however, that if the
Potential Shipper’s rating is at BBB- or Baa3 and the short-term or long-term
outlook is Negative, Freebird may require further analysis as discussed
below); (ii) the sum of reservation fees, commodity fees and any other
associated fees and charges for the contract term is less than 15% of
Shipper’s (or Potential Shipper’s) tangible net worth; (iii) a Shipper event
of default has not occurred or has occurred but was remedied in a timely
manner, and (iv) Freebird believes, in its reasonable and non-discriminatory
judgment, after review of Shipper’s financial situation based on all
information available, that Shipper will fully, timely and faithfully perform
all obligations under all service agreements and, if applicable, that
Shipper’s Credit Support Provider’s guarantee fully secures such obligations
and is enforceable by Freebird against such Credit Support Provider. If a
Potential Shipper has multiple service agreements with Freebird, then the
total potential fees and charges of all such service agreements shall be
considered in determining creditworthiness.
(h) If a Potential Shipper does not meet the criteria described above in
3.4(g), then the Potential Shipper may request that Freebird evaluate its
creditworthiness based upon the level of service requested relative to the
Potential Shipper’s current and future ability to meet its obligations or the
Potential Shipper’s Credit Support Provider’s current and future ability to
secure the Potential Shipper’s obligations.