Nora Transmission Company

First Revised Volume No. 1

Effective Date: 06/01/1997, Docket: RP97-105-001, Status: Effective

Original Sheet No. 148A Original Sheet No. 148A : Superseded

GENERAL TERMS AND CONDITIONS (Continued)

term specified by the Releasing Customer;

(iii) If more than one valid bid is received and none

offers the maximum applicable rate for the maximum

term, Pipeline will award the capacity to the bid

offering the maximum revenue over the minimum term

of the release;

(iv) If two or more equal bids are received, Pipeline

will award the capacity on the basis of the tie-

breaker criteria provided by the releasing customer.

If no tie-breaker criteria are provided by the

Releasing Customer, then capacity will be awarded on

the basis of a lottery. The lottery will be

conducted by the Pipeline in a nondiscriminatory

manner and capacity shall be awarded on the basis of

an all or nothing draw.

b. Posting of Awarded Capacity. The released capacity will be

awarded and posted on the electronic communication system

and EDI by 5:00 p.m. CCT on the day the bidding period ends.

The notice of the award will contain the following

information:

(i) Term of release;

(ii) Price(s) as bid;

(iii) Primary receipt and delivery points;

(iv) Quantity in dth;

(v) Whether the capacity is firm or firm recallable; and

(vi) The name of the Replacement Customer and whether the

Replacement Customer is affiliated with the

Releasing Customer.

25.9 Right of First Refusal

In the case of a prearranged bid, if the bid submitted by a

subsequent Bidder exceeds the value of the bid submitted by

the Prearranged Replacement Customer, the Prearranged

Replacement Customer will be given the opportunity to match

the terms of the subsequent bid. Pipeline will notify the