Tres Palacios Gas Storage LLC

Original Volume No. 1

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Effective Date: 07/25/2009, Docket: RP09-260-000, Status: Effective

Original Sheet No. 165 Original Sheet No. 165

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

34. TRANSACTION CONFIRMATION PROCEDURE

 

34.1 TRES PALACIOS and a Customer may use the Transaction

Confirmation procedure set forth in this Section 34 to confirm

their agreement(s) regarding storage and hub services to be

provided by TRES PALACIOS. Should TRES PALACIOS and Customer come

to an agreement regarding a storage or hub service transaction,

TRES PALACIOS shall, and the Customer may, record that agreement

on a Transaction Confirmation, which shall include all of the

information required under the applicable form of Service

Agreement set forth in this Tariff, and communicate such

Transaction Confirmation by facsimile, e-mail or other mutually

agreeable electronic means, to the other party by the close of the

Business Day following the date of agreement. TRES PALACIOS and

Customer acknowledge that their agreement will not be binding

until the exchange of non-conflicting Transaction Confirmations or

the passage of the Confirm Deadline without objection from the

receiving party, as provided in Section 34.2.

 

34.2 If a sending party's Transaction Confirmation is

materially different from the receiving party's understanding of

the agreement referred to in Section 34.1, such receiving party

shall notify the sending party via facsimile, e-mail or other

mutually agreeable electronic means by the Confirm Deadline,

unless such receiving party has previously sent a Transaction

Confirmation to the sending party. The failure of the receiving

party to so notify the sending party in writing by the Confirm

Deadline constitutes the receiving party's agreement to the terms

of the transaction described in the sending party's Transaction

Confirmation. If there are any material differences between

timely sent Transaction Confirmations governing the same

transaction, then neither Transaction Confirmation shall be

binding until or unless such differences are resolved including

the use of any evidence that clearly resolves the differences in

the Transaction Confirmations.

 

34.3 For purposes of this Section 34, "Confirm Deadline"

shall mean 5:00 p.m. in the receiving party's time zone on the

second Business Day following the Day a Transaction Confirmation

is received; provided, if the Transaction Confirmation is time

stamped after 5:00 p.m. in the receiving party's time zone, it

shall be deemed received at the opening of the next Business Day.