Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 07/30/2001, Docket: RP01-463-001, Status: Effective

Substitute Second Revised Sheet No. 4002 Substitute Second Revised Sheet No. 4002 : Effective

Superseding: First Revised Sheet No. 4002

 

GENERAL TERMS AND CONDITIONS

Section 33

(Continued)

 

(i) Gulf South shall notify the winning Bidder by telephone within

10-minutes following the close of the auction. The winning

Bidder shall within 10 minutes of notification, accept the

capacity by notifying Gulf South by telephone. Any winning

Bidder not accepting its bid prior to the 10-minute deadline will

forfeit its capacity and Gulf South will award the forfeited

capacity to the next highest Bidder. The next highest Bidder

will then accept its capacity within 10 minutes of notification

or forfeit the capacity. If that Bidder forfeits its capacity or

if some of the auctioned capacity was not subject to a Winning

Bid, then Gulf South shall close the auction and retain the right

to auction the capacity at a later date.

 

(j) The winning Bidder shall within 24 hours execute a new 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 business on the day the capacity has been

awarded. If the Customer fails to timely execute a service

agreement, Gulf South shall have the ability to re-auction the

capacity.

 

(k) Gulf South shall post the results of the auction on its Internet

Web Site no later than the close of business on the business day

following the day of the auction. The posting will include:

 

(i) Name of winning Bidder;

(ii) Winning Bid rate and maximum rate;

(iii) duration of contract;

(iv) contract quantity;

(v) injection point, payback point and relevant zone; and

(vi) any affiliate relationship between Gulf South and winning

Bidder.