Transcontinental Gas Pipe Line Company, LLC

Fourth Revised Volume No. 1

Effective Date: 12/31/2008, Docket: RP09-158-000, Status: Effective

Original Sheet No. 457 Original Sheet No. 457

GENERAL TERMS AND CONDITIONS

(Continued)

42. CAPACITY RELEASE (Continued)

42.9 Posting Periods (Continued)

(All times are Central Clock Time)

12:00 noon Offers should be tendered four Business Days before award.

1:00 p.m. Open season ends on the Business Day before timely nominations are due

(open season is three Business Days).

Evaluation period begins during which contingency is eliminated,

determination of best bid is made, and ties are broken.

2:00 p.m. Evaluation period ends and award posting if no match required.

Match or award is communicated.

2:30 p.m. Match response.

3:00 p.m. Where match required, award posting.

Contract issued within one hour of posting (with a new contract

number, when applicable); nomination possible beginning at the next

available nomination cycle for the effective date of the contract

(Central Clock Time).

Intraday releases may be subject to a pro-rata reduction of the capacity available for

release on the initial day of the release. Subsequent days, for the remaining term of

the release, shall be for the entire capacity release quantity, subject to any

limitations arising from a re-release of the acquired capacity. The capacity

available for release shall be pro-rated on the initial day of the release assuming a

ratable hourly quantity for the period of time for which the Releasing Shipper could

have nominated quantities pursuant to Section 28.1 of the General Terms and

Conditions. Evening releases shall have the entire released quantity available to the

Replacement Shipper for the initial day of the term of the release. Intraday 1

releases may have the release quantity pro-rated such that the Releasing Shipper may

only release a total of two-thirds of its contract entitlement for the initial day of

the release. Intraday 2 releases may have the release quantities pro-rated such that

the Releasing Shipper may only release a total of one-half of its contract entitlement

for the initial day of the release. Seller shall use the initial date in the term of

release in conjunction with the Releasing Shipper's posting time to determine if the

capacity release is subject to pro-ration under this section.