Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 10/08/2008, Docket: RP08-603-000, Status: Effective

Third Revised Sheet No. 3704 Third Revised Sheet No. 3704

Superseding: Second Revised Sheet No. 3704

 

GENERAL TERMS AND CONDITIONS

Section 30

(Continued)

 

 

(g) If the original Customer declines to match the Best Bid,

Gulf South shall prepare a new service agreement setting

forth the terms and conditions of the Best Bid for the

Bidder with the Best Bid ("Winning Customer"), for

execution. If the Winning Customer fails to execute the

new service agreement within ten (10) business days of Gulf

South's tender, the Winning Customer will forfeit all right

and entitlement to the subject capacity. Gulf South shall

have the ability to re-sell the capacity, and the Winning

Customer, which failed to timely execute the service

agreement, will be required to pay the difference between

the contract rate as established by the Best Bid) and the

price received for the capacity when it is re-sold

multiplied by the volumes of the Winning Bid.

 

(h) Gulf South shall provide the original Customer notice if

Gulf South does not receive bids during the bidding period,

or does not accept any bids. Following such notice, Gulf

South and the original Customer may negotiate the rate and

term under which service will continue. No discount or

other special terms shall apply to the new service

agreement unless Gulf South and the original Customer

mutually agree. The original Customer may require Gulf

South to enter into a service agreement for a cost-based

service at the applicable maximum rate and for the term of

at least one (1) year. Such contract shall commence on the

date the existing service agreement expires.

 

(i) Any service agreement negotiated or required pursuant to

paragraph (h) above must be executed by the original

Customer within 30 calendar days following notice that no

bid(s) were received or accepted. Absent such execution,

Gulf South shall have the ability to re-sell the capacity

to any party. The existing service agreement shall

terminate at the end of its term and shall be automatically

abandoned upon such termination.