Honeoye Storage Corporation

Original Volume No. 1A

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Effective Date: 11/01/2010, Docket: RP10-1222-000, Status: Effective

Fifth Revised Sheet No. 18 Fifth Revised Sheet No. 18

Superseding: Fourth Revised Sheet No. 18

 

and the winning bidder shall enter into an Agreement with Seller pursuant to

Section 7.2. Seller is required to meet the Capacity Release Timeline for

processing capacity releases only if the Releasing Customer's best bid

methodology is either: (1) highest rate, (2) highest net revenue, or (3) greatest net

present value. For index-based capacity release transactions, the Releasing

Customer should provide the necessary information and instructions to support

the chosen methodology. In all cases, Replacement Customers will be subject to

all requirements of this Tariff. Storage Service to the Replacement Customer may

commence, prior to the posting of the winning bid, if capacity has been awarded

and a contract executed.

 

(h) Recall Reput Rights

 

(i) A Releasing Customer cannot in any way modify recall rights as specified

by a previous Releasing Customer, but may specify its own recall rights,

subject to any recall rights specified by a previous Releasing Customer. A

potential Replacement Customer is responsible for obtaining from the

Releasing Customer with whom it is negotiating for released capacity any

information concerning recall rights specified by a previous Releasing

Customer. A Releasing Customer specifying recall conditions shall be the

only party that can exercise and administer such recall rights. In the event

of any conflict, the instructions and communications of the Releasing

Customer specifying the recall conditions shall govern. The party recalling

the capacity shall be subject to Seller's nomination procedures in

accordance with Section 4 of the General Terms and Conditions of this

FERC Gas Tariff. If the release specifies that the Releasing Customer has

reput rights and the recall ends prior to the end of the release term at the

end of the recall period, capacity shall revert back to the Replacement

Customer, if applicable, subject to Seller's nomination procedures. When

capacity is recalled it may not be reput for the same day. The deadline for

notifying the Seller of a reput is 8:00 a.m. to allow for timely nominations

to flow on the next gas day.

 

(ii) Seller shall have no liability to any party in relying on the recall

instructions and conditions specified by the Releasing Customer, except to

the extent that such party establishes that Seller has incorrectly applied

such instructions as a result of the negligent action or willful misconduct

of Seller.