Venice Gathering System, L. L. C.

Original Volume No. 1

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Effective Date: 01/01/1998, Docket: CP97-533-002, Status: Effective

Original Sheet No. 114 Original Sheet No. 114 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

12.5 Credit Worthiness of Customer

 

VGS shall not be required to perform or to continue

transportation or other services under this FERC Gas Tariff

or any Service Agreement on behalf of any Customer who is or

who has become insolvent or who, at VGS' request, fails

within a reasonable period to demonstrate credit worthiness.

Upon submission of a Request for Service by the Customer,

and then from time to time at VGS' request, Customer shall

provide VGS the following information in order for VGS to

analyze Customer's credit worthiness: Customer's latest

audited financial statements, annual report, Form 10-K, a

list of affiliates, three credit references and trade

reference ratings and credit bureau reports. For purposes

of this FERC Gas Tariff, the insolvency of a Customer shall

be evidenced by:

 

a. the filing by such Customer, or parent

entity thereof, of a voluntary petition

in bankruptcy; or

 

b. the entry of a decree or order by a court

having jurisdiction in the premises

adjudging the Customer as bankrupt or

insolvent; or

 

c. the approving as properly filed a

petition seeking reorganization,

arrangement, adjustment or composition

of, or in respect of, the Customer under

the Federal Bankruptcy Act or any other

applicable federal or state law; or