Williston Basin Interstate Pipeline Co.
Second Revised Volume No. 1
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Effective Date: 05/11/2009, Docket: RP09-506-000, Status: Effective
Second Revised Sheet No. 289 Second Revised Sheet No. 289
Superseding: First Revised Sheet No. 289
GENERAL TERMS AND CONDITIONS (Continued)
22. INSOLVENCY/PERFORMANCE PROVISION
22.1 Transporter shall not be required to perform or continue service
under this Tariff on behalf of any Shipper who is or has become
insolvent or who, at Transporter's request, fails within a reasonable
period to demonstrate creditworthiness based upon the criteria provided
in Subsection 7.7 of these General Terms and Conditions on an ongoing
basis. Provided, however, such Shipper may receive service under this
Tariff if Shipper provides an advance deposit, a standby irrevocable
letter of credit, a security interest in collateral found to be
satisfactory to Transporter or a guarantee, satisfactory to Transporter,
by another person or entity that satisfies the credit evaluation in an
amount equal to the cost of performing the service requested by Shipper
for three (3) months of highest estimated usage, unless otherwise
agreed. For purposes of this Tariff, the insolvency of a Shipper shall
be evidenced by the filing by such Shipper or any parent entity thereof
(hereinafter collectively referred to as "the Shipper") of a voluntary
petition in bankruptcy or the entry of a decree or order by a court
having jurisdiction in the premises adjudging the Shipper bankrupt or
insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect
of the Shipper under the Federal Bankruptcy Act or any other applicable
federal or state law, or appointing a receiver, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Shipper or of
any substantial part of its property, or the ordering of the winding-up
or liquidation of its affairs, with said order or decree continuing
unstayed and in effect for a period of sixty (60) consecutive days.
22.2 Transporter shall not be required to perform or continue service
on behalf of any Shipper that fails to comply with any terms of
Transporter's applicable Rate Schedule and all terms of Shipper's
Service Agreement with Transporter.
23. POSSESSION OF GAS
Shipper shall be in exclusive control and possession of the gas until
such gas has been received by Transporter at the point(s) of receipt and
after such gas has been delivered by Transporter at the point(s) of
delivery. Transporter shall be in exclusive control and possession of
such gas while it is in Transporter's pipeline system. Transporter's
responsibility with respect to Shipper's gas shall be deemed to be met
if Transporter exercises ordinary care in protecting such gas.