Ozark Gas Transmission, L. L. C.

First Revised Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 11/01/2008, Docket: RP08-617-000, Status: Effective

Original Sheet No. 185 Original Sheet No. 185

 

GENERAL TERMS AND CONDITIONS (continued)

 

(d) "Financial Assurances" means one or more of the forms of

credit support set forth in Sections 30.9(a), 30.9(b), and

30.9(c), in accordance with and in an amount as set forth in

Section 30.7.

 

(e) "Parental Guarantee" means a Guarantee granted to Transporter

by Shipper's direct or indirect parent (the "Guarantor"), which

Guarantor shall have and maintain an Acceptable Credit Rating.

The Guarantee shall be in a form reasonably acceptable to

Transporter and shall in no event be limited in amount below the

full dollar value specified for Shipper's Financial Assurances in

Section 30.9.

 

30.8 If Shipper suffers a Material Adverse Change, then Shipper

shall provide Transporter with a Parental Guarantee or one or more

of the forms of Financial Assurances as set forth in this Section

30. If Shipper elects to provide a Parental Guarantee, Shipper

shall provide the Parental Guarantee within five (5) Business Days

of written notice from Transporter. Otherwise, Shipper shall (a)

provide Financial Assurances within five (5) Business Days of

written notice from Transporter in an amount equal to one month's

worth of firm service reservation charges, one month's worth of

Interruptible service charges calculated on a one hundred percent

load factor basis and/or the market value of Shipper's loaned

Natural Gas, each determined in the manner described in Section

30.9 below, as applicable; and (b) Shipper shall fully comply with

the Financial Assurances provisions of Section 30.9 of these

General Terms and Conditions by increasing the dollar amount of

its Financial Assurances to the full amounts set forth in Section

30.9 within 30 days of Transporter's written notice. In the event

Shipper is not deemed creditworthy in accordance with this Tariff

and fails to provide or maintain a Parental Guarantee or Financial

Assurances, Transporter may, at Transporter's election, (i)

suspend performance until Shipper complies with the

creditworthiness provisions of this Tariff, and/or (ii) terminate

the Shipper's Service Agreement, provided that Transporter shall

provide not less than thirty (30) days notice of such termination

to the Shipper and to FERC. Shipper shall not be obligated to pay

Transporter reservation charges for any suspended services during

any period of suspension pursuant to this Section 30.8.