Maritimes & Northeast Pipeline, L.L.C.
First Revised Volume No. 1
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Effective Date: 09/26/2005, Docket: RP05-582-000, Status: Effective
First Revised Sheet No. 222 First Revised Sheet No. 222 : Effective
Superseding: Original Sheet No. 222
GENERAL TERMS AND CONDITIONS
(continued)
3. SERVICE REQUESTS AND CONTRACTING FOR SERVICE (continued)
3.6 [Reserved for Future Use]
3.7 Pipeline shall apply, on a non-discriminatory basis,
consistent financial evaluation standards to determine the
acceptability of Customer/Interconnecting Party's overall
financial condition. Such credit appraisal and any further
or ongoing credit appraisal as may be necessary shall be
based upon the following information and criteria:
(a) Customer/Interconnecting Party shall provide current
financial statements, annual reports, 10-K reports or
other filings with regulatory agencies which discuss
Customer/Interconnecting Party's financial status; a
list of all corporate affiliates, parent companies and
subsidiaries; and any reports from credit reporting
and bond rating agencies which are available.
Pipeline shall determine the acceptability of the
Customer/Interconnecting Party's overall financial
condition.
(b) A Customer/Interconnecting Party requesting long-term
firm transportation service with a primary term of
over one (1) year must (i) demonstrate that the
Customer's senior, unsecured non-credit enhanced long-
term debt is rated by Moody's Investors Service, Inc.
as Baa3 or higher, by Standard & Poor's BBB- or
higher, by Dominion Bond Rating Service as BBB or
higher, or by Canadian Bond Rating Service as B++ or
higher; provided that, if such Customer's senior,
unsecured, non-credit enhanced long-term debt is rated
by two or more such agencies, at least two of the
assigned ratings shall meet such credit standards; or
(ii) provide a guarantee of payment by another entity
whose senior unsecured, non-credit enhanced long-term
debt meets the test in clause (i). A Customer
requesting short-term firm transportation service with
a primary term of one (1) year or less or