Canyon Creek Compression Company

Third Revised Volume No. 1

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Effective Date: 10/01/2002, Docket: RP02-418-000, Status: Effective

Second Revised Sheet No. 151 Second Revised Sheet No. 151 : Effective

Superseding: First Revised Sheet No. 151

GENERAL TERMS AND CONDITIONS

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(b) As to any other Prearranged Release, in the event there was

no winning Qualified Bid(s) with a higher total Bid Value than the

Prearranged Shipper's Bid Value, Canyon shall notify the Prearranged Shipper.

If, during an open season, the winning Qualified Bid(s) have a higher total

Bid Value than the Bid Value of the Prearranged Release under the bid

evaluation procedure selected by the Releasing Shipper, Canyon shall notify

the Prearranged Shipper of the terms and conditions of the winning Qualified

Bid(s), except for any identification of the Qualified Bidder(s). The

Prearranged Shipper may elect to match any or all of such winning Qualified

Bid(s), but may not elect to match only a portion of a winning Qualified Bid.

Such election shall consist of the Prearranged Shipper submitting notice to

Canyon of its unconditional agreement to the terms and conditions of one or

more of such winning Qualified Bid(s) in writing or electronic means. In the

event of a timely match, the Prearranged Shipper shall be awarded the

released capacity. To the extent that the Prearranged Shipper fails to timely

match (within the required time frame) the winning Qualified Bid(s) with a

higher Bid Value, then the Qualified Bidder(s) who made the winning Qualified

Bid shall be awarded the capacity. The timelines for the above actions shall

be as provided in Section 16.1 of these General Terms and Conditions.

 

(c) For any other Capacity Release Request, the capacity rights

shall be automatically awarded to the winning Qualified Bidder(s) when Canyon

has identified the entity(s) to receive the released capacity under this

Section 16.

 

(d) A capacity release shall become effective upon the awarding

of capacity consistent with this Section 16. Nominations for gas service

utilizing the released capacity shall be accepted at the next available

nomination opportunity which occurs on or after the time the release becomes

effective hereunder, consistent with 18 C.F.R. Section 284.12(c)(1)(ii);

provided that nominations cannot be effectuated prior to the beginning time

specified in the release. Canyon shall issue a contract to the winning

Qualified Bidder within one (1) hour after the capacity has been awarded. So

long as the winning bidder has pre-approved credit, that bidder can submit a

nomination consistent with the above regardless of whether a contract with

Canyon covering the capacity awarded has been issued or executed; provided,

however, that a contract must be executed under the provisions of the

relevant rate schedule regarding timely execution of a contract tendered by

Canyon in order for a Shipper to have continued service beyond the maximum

time specified for timely contract execution. If the original Shipper has

already submitted a nomination on a Day under the Agreement being released,

and if the Replacement Agreement covering the released capacity is effective

that same Day, the original Shipper may incur overrun charges if his

nomination exceeds the reduced contractual parameters under the original

Agreement resulting from the release (i.e., if the original Shipper fails to

reduce its nomination, or does not adequately reduce its nomination, at the

first opportunity the Replacement Shipper has to nominate).