Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 06/09/2006, Docket: RP06-355-000, Status: Effective

Second Revised Sheet No. 3709 Second Revised Sheet No. 3709 : Effective

Superseding: First Revised Sheet No. 3709

 

GENERAL TERMS AND CONDITIONS

Section 30

(Continued)

 

(g) If the original Customer fails to timely match the Winning

Bid, the existing service agreement shall terminate at the

end of its term. Service to the original Customer shall be

automatically abandoned. Gulf South and the Bidder who

submitted the Winning Bid shall within five (5) business

days execute a service agreement setting forth the terms

and conditions of the Winning Bid. The new service

agreement will be provided to the Customer before the close

of the next business day after the capacity has been

awarded. If the bidder does not execute the service

agreement within five (5) business days, the bidder shall

forfeit all right and entitlement to the subject capacity

and will pay to Gulf South the difference between the

contract rate (as established by the Winning Bid) and the

price received for the capacity when it is resold in a

subsequent auction multiplied by the volumes of the Winning

Bid.

 

(h) If Gulf South does not receive bids during the auction

period, or does not accept any bids, the original Customer

may negotiate with Gulf South the rate and term of service.

No other special terms shall apply to the new service

agreement unless Gulf South and the original Customer

mutually agree. Such service agreement must be executed by

Gulf South and the original Customer prior to the

expiration of the existing service agreement in order to

prevent the existing service from being interrupted. If

the original Customer does not so elect or fails to execute

the new service agreement before the expiration of the

existing service, the expiring service agreement shall be

terminated and automatically abandoned at the end of its

term.

 

(i) If a Releasing Customer desires to release its capacity

pursuant to Section 29 on a permanent basis, the ROFR shall

be deemed to have been assigned if the terms and conditions

of the release so state.