Venice Gathering System, L. L. C.

Original Volume No. 1

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Effective Date: 11/01/2009, Docket: RP09-742-000, Status: Effective

Second Revised Sheet No. 115 Second Revised Sheet No. 115

Superseding: First Revised Sheet No. 115

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

d. the appointing of a receiver, liquidator,

assignee, trustee, sequestrator (or other

similar official) of the Customer or of

any substantial part of the Customer's

property; or

 

e. the ordering of the liquidation of

Customer's affairs, with said order or

decree continuing unstayed and in effect

for a period of sixty (60) consecutive

days.

 

12.6 Creditworthiness Standards

 

VGS will support NAESB Version 1.8 business practices with respect to

creditworthiness standards. Specifically, VGS incorporates by

reference:

 

Standard 0.3.3: Request for Additional Information

 

Standard 0.3.4: Acknowledge Requests for Information

 

Standard 0.3.5: Respond to Requests for Information

 

Standard 0.3.6: Notification of Receipt of Information

 

Standard 0.3.7: Designate Representatives to Receive Notices

 

Standard 0.3.8: Creditworthiness Re-Evaluation

 

Standard 0.3.9: Response to Request for Re-Evaluation

 

Standard 0.3.10: Other Forms of Communication

 

 

12.7 Credit Appraisal

 

VGS' credit appraisal procedures involve the

establishment of dollar credit limits for each Customer. To

the extent that the value of the transportation services

provided to a Customer do not exceed the established credit

limit, no new credit appraisal will be conducted if an

executed Service Agreement is amended or Customer requests

new transportation services, provided that the Customer's

payment history with VGS has been satisfactory and there is

no bona fide basis for questioning a Customer's creditworthiness. If a

Customer fails to demonstrate creditworthiness, Customer may obtain

transportation service under this FERC Gas Tariff and any Service Agreement

by:

 

a. prepaying for such service in an amount

equal to three (3) days multiplied by the

maximum penalty rate multiplied by the

MDRQ for firm service, MDTQ for

interruptible service or MDQ for pooling

service; or