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. 116 Original Sheet No. 116 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

b. providing a standby irrevocable letter of

credit 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 pooling service drawn on a bank

acceptable to VGS; or

 

c. furnishing a good and sufficient security

interest in collateral 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 that is satisfactory to VGS; or

 

d. providing a guarantee 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 by any firm, corporation, agent,

assignee or legal representative who

satisfies the credit worthiness criteria

of Subsection 12.5.