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.