Tennessee Gas Pipeline Company

FIFTH REVISED VOLUME NO. 1

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Effective Date: 08/01/2009, Docket: RP09-737-000, Status: Effective

Twelfth Revised Sheet No. 343 Twelfth Revised Sheet No. 343

Superseding: Eleventh Revised Sheet No. 343

 

GENERAL TERMS AND CONDITIONS (continued)

 

 

(b) NAESB Standard 5.3.14 (Version 1.8) states: Offers should be

binding until written or electronic notice of withdrawal is

received by the capacity release service provider. Further,

NAESB Standard 5.3.16 (Version 1.8) states: The releasing party

has the right to withdraw its offer during the bid period, where

unanticipated circumstances justify and no minimum bid has been

made.

 

(c) Replacement Shipper will post all applicable information

required by Section 12.2 on PASSKEY. Such requests will remain

posted for a period of four weeks or until consummation of the

transaction, whichever is shorter.

 

(d) Transporter makes no representation or warranty to any party

concerning the accuracy or completeness of any posted information

or concerning the willingness or ability of any Releasing Shipper

to release storage rights hereunder or of any Replacement Shipper

to accept storage rights hereunder. Transporter shall not be

liable to any party for any damages, of any nature whatsoever,

including without limitation any special, incidental, or

consequential damages or any other kind that may arise in

connection with the posting of information hereunder, except as

provided in the System License Agreement or the Trading Partner

Agreement entered into between Transporter and each user of

PASSKEY.

 

12.5 Bidding for Storage Rights

 

(a) Persons that desire to bid on released storage rights must pre-

qualify with Transporter by submitting information specified in

the Request for Service via PASSKEY to Transporter and by

demonstrating creditworthiness in the same manner and subject to

the same standards and procedures as required by firm shippers

under Article XXVIII of these General Terms and Conditions. The

creditworthiness requirement shall be continuing in nature in

the same manner and to the same extent as prescribed for

Shippers under Article XXVIII of these General Terms and

Conditions. Transporter will waive the creditworthiness

requirement on a nondiscriminatory basis for Bidders on a

Release Request and permit them to submit Bids, if the Releasing

Shipper provides Transporter with adequate assurances in

accordance with Article XXVIII, Section 4.5 of the General Terms

and Conditions for all financial obligations of the Replacement

Shipper under its Release Storage Service Agreement prior to the

commencement of service to the Replacement Shipper.