Canyon Creek Compression Company

Third Revised Volume No. 1

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Effective Date: 09/24/2001, Docket: RP01-515-000, Status: Effective

Third Revised Sheet No. 168 Third Revised Sheet No. 168 : Effective

Superseding: Second Revised Sheet No. 168

GENERAL TERMS AND CONDITIONS

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(c) Within fifteen (15) days after receipt of a notice

under Section 18.2(b), Canyon shall post on the Informational Postings

portion of its Interactive Website an Announcement of Capacity

Availability Subject to Right of First Refusal (Capacity Announcement)

which shall: (1) specify the original Shipper's service rights; (2)

indicate the availability of such service as of the date the existing

Agreement expires, subject to the Right of First Refusal; (3) state

the maximum rate applicable to such service; (4) set out any other

information required by this Section; and (5) solicit bids for such

service. Such Capacity Announcement shall be maintained, and bids

accepted via Canyon's Interactive Website or other mutually agreed

means, for a period of one (1) month from the initial posting.

 

(d) (1) Within one (1) week after the end of the one

month period during which the Capacity Announcement is posted, Canyon

shall convey to the original Shipper a term sheet for the best bid

(based on price and term) which would qualify for such service in all

respects (including meeting applicable credit criteria), which is a

bona fide bid and which Canyon is willing to accept. Canyon may, but

is not required to, accept any bid which reflects a discount from the

applicable maximum rate. In assessing which is the best bid if more

than one bid is received, Canyon shall apply the same criteria

utilized to evaluate bids under the Capacity Release Program (except

that contract terms in excess of five years shall not increase the

value of any bid), unless different objective economic criteria are

posted by Canyon along with the Capacity Announcement. If a bid is

received for a Negotiated Rate or Negotiated Rate Formula pursuant to

Section 35 of these General Terms and Conditions, the value of the bid

shall be assessed utilizing the Recourse Rate in lieu of the

Negotiated Rate or Negotiated Rate Formula consistent with said

Section 35.

 

(2) Canyon's term sheet shall contain any and all

terms of the bid but shall not identify the bidder; provided, however,

such bid sheet shall indicate if the best bid was submitted by an

affiliate of Canyon. Except for the providing of such term sheet to

the original Shipper, all terms and conditions of any bid and the

identity of the bidder shall remain confidential; provided that the

Commission may on request have access to such information on a

confidential basis.