Venice Gathering System, L. L. C.
Original Volume No. 1
Contents / Previous / Next / Main Tariff Index
Effective Date: 06/01/2002, Docket: RP00-536-001, Status: Effective
First Revised Sheet No. 214 First Revised Sheet No. 214 : Effective
Superseding: Original Sheet No. 214
GENERAL TERMS AND CONDITIONS
29. DESCRIPTIVE HEADINGS
29.1 Descriptive Headings
The descriptive headings of the provisions used in this FERC
Gas Tariff, these General Terms and Conditions, or in any Service
Agreement executed for service under a Rate Schedule contained in
this FERC Gas Tariff are formulated and used for convenience only
and shall not be deemed to affect the meaning or construction of
any such provision.
30. CREDITING OF PENALTY AND CASH-OUT REVENUES
The purpose of this provision is to provide the method by which
VGS will return penalty revenues and/or cash-out revenues, as
defined herein, to Shippers beginning with calendar year 2001.
30.1 Definitions: the following terms shall have the designated
"Penalty Revenues" shall mean the total revenues collected
VGS during a calendar year pursuant to the provisions of
VGS' FERC Gas Tariff where (1) a penalty is allowed under
VGS tariff, or (2) is imposed upon VGS by an upstream or
downstream pipeline, net of VGS' administrative costs.
"Cash-Out Differentials" shall mean the net revenues
collected by VGS, less administrative costs, during a
calendar year pursuant to the tiered cash-out schedule in
Section 11.4 when any Shipper's imbalance equals or exceeds
the five percent imbalance tolerance level.