Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 07/30/2001, Docket: RP01-463-000, Status: Effective

First Revised Sheet No. 1200 First Revised Sheet No. 1200 : Effective

Superseding: Original Sheet No. 1200

 

GENERAL TERMS AND CONDITIONS

Section 5

 

5. CREDIT AND FINANCIAL INFORMATION

 

Any entity desiring to seek pre-approval of the credit requirements

pursuant to this Section 5 shall provide information as set forth in

Section 5.1 below. An existing Customer on an annual basis for good

cause and/or at the time such Customer requests a new service shall

provide the information as set forth in Section 5.1 below. This

information will assist Gulf South in a determination as to whether the

entity or existing Customer, henceforth referred to as Customer in this

Section 5, will be able to meet or continue to meet the financial

obligations pursuant to existing or anticipated service agreements.

 

5.1 The following information should be provided to Gulf South for credit

evaluation purposes.

 

(a) Most recent audited financial statements and interim

financial statements prepared subsequent to the audit. If

audited financial statements are unavailable, Customer

shall provide the most recent unaudited financial

statements (balance sheet, income statement and statement

of cash flow) which have been prepared in compliance with

Generally Accepted Accounting Principles together with an

attestation by its Chief Financial Officer, or equivalent

official, that the information reflected in the unaudited

statements is a true, current and fair representation of

the Customer's financial condition.

 

(b) Two (2) financial institution references and at least two

(2) trade references.

 

5.2 Credit Evaluation

 

(a) Gulf South's credit evaluation procedures will result in the

establishment of maximum dollar credit limits on a

standardized nondiscriminatory basis for any applicant. The

amount owed Gulf South by Customer, including without

limitation the value of any imbalance gas, shall not at any

time exceed the maximum dollar credit limit established for

such Customer.