Vector Pipeline L.P.

Original Volume No. 1

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Effective Date: 10/15/2007, Docket: RP07-692-000, Status: Effective

Second Revised Sheet No. 155A Second Revised Sheet No. 155A : Effective

Superseding: First Revised Sheet No. 155A

(b) The economic value of request(s) for service rights shall be

the net present value of the reservation charges and usage

charges that Shipper would pay at the rates Shipper has

requested, which shall not be less than the minimum rate nor

greater than the maximum rates as stated on the currently

effective Tariff sheet governing such services over the term

of service specified in the request(s), utilizing as the

annual discount factor FERC's currently effective Section

154.501(d) interest rate. Shippers requesting service at a

Negotiated Rate which exceeds the maximum rate will be

considered to be paying the maximum rate for purposes of

determining the economic value of request(s) for service

rights.

 

(c) Within thirty (30) Days of the date firm capacity becomes

available on Transporter's system, Transporter shall tender

Transportation Agreements to potential Shipper(s) whose

request(s) for firm service can be accommodated through the

capacity that becomes available in accordance with the order

established under section 30.2(a).

 

If Transporter tenders a Transportation Agreement, but does not

receive the executed Transportation Agreement within thirty (30)

Days from the date the Transportation Agreement is sent, the

request for service rights shall expire without prejudice to the

prospective Shipper's right to submit a new request for service

rights. In the event the prospective Shipper returns a

Transportation Agreement with a rate less than that used to

determine the economic value of the request or with a term less

than that used to determine the economic value of the request or

both, Transporter shall redetermine the economic value of the

Shipper's request in accordance with section 30.2(b) hereof. If

the request continues to qualify for service, and Transporter

agrees to the rate, Transporter shall execute the Transportation

Agreement. If the request does not continue to qualify for

service, the Transportation Agreement shall be deemed null and

void, and the prospective Shipper's request shall be modified in

accordance with the terms proposed by the prospective Shipper.

 

31. CREDITWORTHINESS

 

Shipper shall provide to Transporter and maintain at all times to the

satisfaction of Transporter proof of creditworthiness as follows:

 

1. Shipper (or an Affiliate which guarantees Shipper's obligations

under this Firm Transportation Agreement) has an investment grade

rating for its long term senior unsecured debt from a recognized

rating agency. The minimum acceptable rating from each of the

indicated rating agencies is:

 

Moody's Baa3 or better

S&P BBB- or better

DBRS BBB or better

NAIC NAIC 1 or NAIC 2