Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 12/08/2004, Docket: RP05- 64-000, Status: Effective

Fourth Revised Sheet No. 1411 Fourth Revised Sheet No. 1411 : Effective

Superseding: Third Revised Sheet No. 1411

 

GENERAL TERMS AND CONDITIONS

Section 7

(Continued)

 

bid" before 4:00 p.m., Central Time, of the second

business day following the close of the Bid Period.

If the Original Customer timely matches the "best

bid", or if no "best bid" is submitted, Gulf South

shall enter into a service agreement with this

Original Customer. If the Original Customer does not

match the "best bid", Gulf South shall enter into a

service agreement with the Customer that submitted

the "best bid" ("Bidding Customer").

 

(viii) Execution of Service Agreement:

 

The Customer awarded capacity in (v) or (vii) above

has to execute a service agreement within two (2)

business days of its tender by Gulf South if the

service agreement term is two (2) years or less or

within five (5) business days if the service

agreement term is greater than two (2) years. If the

Customer fails or refuses to execute the service

agreement within the applicable time period, the

Customer shall forfeit all rights and entitlement to

the subject capacity. The capacity will be offered

to the bidder with the next highest bid (as defined

herein) and such bidder, if they accept the offer,

will be required to execute a service agreement as

provided in this section. Any Customer who fails to

timely execute a service agreement will be required

to pay Gulf South an amount equal to the price

difference between the best bid when the capacity is

resold and the price established in Customer's best

bid multiplied times the MDQ provided in Customer's

best bid.

 

(vii) Upon Execution of a Service Agreement with Any Party:

 

Within forty-eight hours of the execution of a service

agreement, Gulf South shall post on the Internet Web

Site the winning bid(s) and the winning bidder(s)

name. This information shall remain on the Internet

Web Site for ninety (90) days.