Southwest Gas Storage Company

Original Volume No. 1

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Effective Date: 06/07/1991, Docket: CP90-1014-005, Status: Effective

First Revised Sheet No. 62 First Revised Sheet No. 62 : Superseded

Superseding: Original Sheet No. 62

 

RATE SCHEDULE FSS (Continued)

FIRM STORAGE SERVICE

 

 

(c) The firm storage service rendered hereunder is

contingent upon Buyer satisfying a credit appraisal

by Seller.

 

(1) Such credit appraisal shall be based upon the

following information and criteria:

 

(i) Buyer shall provide current financial

statements, annual reports, 10-K reports,

filings with regulatory agencies, a list of

all corporate affiliates, parent companies and

subsidiaries, and any reports from credit

reporting and bond rating agencies which are

are available. Seller shall apply consistent

evaluation practices to determine the

acceptability of the Buyer's overall financial

condition, working capital, and profitability

trends.

 

(ii) Buyer shall provide a bank reference and at

least two trade references. The results of

reference checks and any credit reports

submitted in (i) must show that Buyer's

obligations are being paid on a reasonably

prompt basis.

 

(iii) Buyer shall confirm that Buyer is not

operating under any chapter of the bankruptcy

laws and is not subject to liquidation or debt

reduction procedures under state laws, such as

an assignment for the benefit of creditors, or

any informal creditors' committee agreement.

An exception can be made for a Buyer who is a

debtor in possession operating under Chapter

XI of the Federal Bankruptcy Act but only with