Vector Pipeline L.P.

Original Volume No. 1

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Effective Date: 06/01/2010, Docket: RP10-678-000, Status: Effective

Third Revised Sheet No. 158 Third Revised Sheet No. 158

Superseding: Substitute Second Revised Sheet No. 158

 

3. If Transporter receives no bids, or if Transporter receives no

bids at its maximum applicable recourse rate and Transporter

determines not to accept any bids below the maximum applicable

recourse rate, Transporter shall notify Shipper of the bid having

the highest value to Transporter ("Highest Bid"), or that no bids

were received. If Transporter receives a bid at its maximum

applicable recourse rate, or if it accepts any bid below the

maximum applicable recourse rate, Transporter shall, within 5 days

of the close of the ROFR Bidding Period, inform Shipper of the

offer to purchase capacity solicited pursuant to section 32.1

herein that Transporter intends to accept. Shipper shall have 5

days after receiving notice to notify Transporter as to whether it

will match the Highest Bid in terms of price, quantity and

duration. If the Shipper elects to match the Highest Bid, it must

execute a new Transportation Agreement that contains the terms of

the Highest Bid; provided, however, that Shipper shall not be

required to pay any rate higher than the maximum applicable

recourse rate. If the Shipper fails to match the offer presented

by Transporter, Transporter shall enter into a Firm Transportation

Agreement with the Party submitting the competing offer.

 

4. Transporter shall post any matched offer below the maximum

applicable recourse rate on its EBB for an additional 5 days,

during which time bids may be submitted at a higher price.

Shipper shall be given an opportunity to match any higher bid.

This process shall repeat until Shipper agrees to pay

Transporter's maximum applicable recourse rate, the Shipper fails

to match an offer, or no higher bid is submitted. The iterative

process shall not extend for greater than 30 days from the initial

posting of a matched offer pursuant to this section 32.4. At the

expiration of such 30 day period, the most recent offer shall be

accepted.

 

5. If Transporter receives no bids at the maximum applicable recourse

rate and Transporter refuses to accept a lower bid, Transporter

may abandon service to Shipper, unless Shipper agrees to pay the

maximum applicable recourse rate for a period of one year, or if

Transporter and Shipper negotiate the terms and conditions of a

Firm Transportation Agreement extension.

 

33. INCORPORATION IN RATE SCHEDULES AND SERVICE AGREEMENTS

 

These General Terms and Conditions are incorporated in and are a part of

Transporter's Rate Schedules and service agreements. Except as provided

in section 8 of the Forms of Firm Transportation Agreements included

herein, to the extent there is any inconsistency between terms in these

General Terms and Conditions and terms in Transporter's Rate Schedule or

service agreements, these General Terms and Conditions shall govern.