MarkWest Pioneer, L.L.C.
Original Volume No. 1
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Effective Date: 04/01/2009, Docket: RP09-321-000, Status: Effective
Original Sheet No. 54 Original Sheet No. 54
GENERAL TERMS AND CONDITIONS
(Continued)
7.3.3 Shipper provides a guarantee of financial performance in a form
satisfactory to transporter and for the term of the Transportation
Agreement from a corporate affiliate of the shipper or a third
party, either of which meets the creditworthiness standards set
forth in this Section; or
7.3.4. Shipper provides some other security or assurance of
creditworthiness, which in Transporter’s judgment is adequate for
the service. For Rate Schedule FT-2 Shippers, transporter may
consider the size and nature of the gas production committed under
the Production Commitment Agreement. Transporter shall apply this
provision in a manner that is not unduly discriminatory.
7.4. Other Creditworthiness Requirements – Shipper must also meet the following
criteria in order to be deemed creditworthy for purposes of this section:
7.4.1. Shipper must not be operating under any chapter of the bankruptcy
laws and must not be subject to liquidation or debt reduction
procedures under state laws, such as an assignment for the benefit
of the creditors, or any informal creditors’ committee assignment.
An exception can be made for a Shipper who is a debtor in possession
operating under Chapter XI of the Federal Bankruptcy Act but only
with adequate assurances that the bills will be paid promptly as a
cost of administration under the federal court’s jurisdiction;
7.4.2. Shipper must not be subject to pending liquidation or regulatory
proceedings in state or federal courts that could cause a
substantial deterioration in its financial condition or that could
cause a condition of insolvency or adversely affect its ability to
exist as an on-going business entity; and
7.4.3. Shipper must have no significant outstanding collection lawsuits or
judgments that would jeopardize Shipper’s ability to remain solvent.