Saltville Gas Storage Company L.L.C.
Original Volume No. 1
Contents / Previous / Next / Main Tariff Index
Effective Date: 08/15/2007, Docket: RP07-526-000, Status: Effective
Original Sheet No. 110B Original Sheet No. 110B : Effective
GENERAL TERMS AND CONDITIONS
(Continued)
3. CONTRACTING FOR SERVICE (continued)
3.4 Credit Evaluation (continued):
Security in the form of an advance deposit shall accrue
interest to the benefit of Customer from the date Saltville
receives such deposit. Interest on such advance deposits
shall be calculated monthly at the most recently established
91-day Treasury Bill auction rate, as published in The Wall
Street Journal. Alternatively, a Customer providing
security in the form of an advance deposit may deposit such
security into an interest-bearing escrow account,
established by Customer at Customer's expense, to which
account Saltville shall have unrestricted access in the
amount of an invoice upon presentment of an invoice for the
payment of services provided to Customer.
(c) Once every twelve (12) months, Customer shall provide
Saltville with updated financial information in the form
required in Section 3.4(a) above. In addition, if Saltville
becomes aware that there may be a potentially material
change in the financial condition of an existing Customer,
Saltville shall require Customer to promptly resubmit all of
the financial information required in Section 3.4(a) above.
Saltville shall re-evaluate Customer's creditworthiness
based upon the updated information provided by Customer
pursuant to Section 3.4(a) above. If Customer's credit
standing ceases to meet Saltville's credit requirements at
any time during the period of service, then Saltville has
the right to require security as specified in Section 3.4(b)
above. If the credit standing of any entity issuing a
letter of credit and/or guaranty in support of Customer's
obligations ceases to meet Saltville's credit appraisal at
any time during the period of service, then Saltville has
the right to require Customer to provide replacement
security that satisfies the requirements of Section 3.4(b)
above.
(d) In the event any information provided by Customer pursuant
to Sections 3.3 and 3.4 with respect to a request for new
service or a request that would result in a Billing
Amendment materially changes prior to execution of the new
service agreement or Billing Amendment, as applicable, or
Customer learns that such information may materially change
prior to execution of the service agreement or Billing
Amendment, as applicable, Customer shall be obligated to
provide written notice of such material changes to
Saltville. Saltville shall require Customer to resubmit all
of the financial information required in this Section 3.4
within ten (10) Business Days of the identification of the
material change. If such updated financial information is
not received within ten (10) Business Days, the request for
service will be deemed null and void. Saltville shall re-
evaluate Customer's creditworthiness based upon the updated
information provided by Customer pursuant to this Section
3.4.