Ozark Gas Transmission, L. L. C.
First Revised Volume No. 1
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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.