Maritimes & Northeast Pipeline, L.L.C.
First Revised Volume No. 1
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Effective Date: 01/07/2008, Docket: RP08-113-000, Status: Effective
First Revised Sheet No. 223 First Revised Sheet No. 223 : Effective
Superseding: Original Sheet No. 223
GENERAL TERMS AND CONDITIONS
(continued)
3. SERVICE REQUESTS AND CONTRACTING FOR SERVICE (continued)
interruptible service of any term and which does not
meet the tests for long-term transportation service set
forth above must provide a letter of credit, guaranty or
other reasonable financial support commensurate with the
term and type of service (firm or interruptible)
requested, satisfactory to Pipeline, if requested by
Pipeline.
(c) If a Customer requesting long-term firm transportation
service with a primary term of over one (1) year is not
rated by a recognized rating agency, Customer must
demonstrate an equivalent rating acceptable to Pipeline
based on the financial rating methodology, criteria and
ratios for the industry of the Customer as published by
the above rating agencies from time to time.
(d) Customer/Interconnecting Party shall confirm in writing
that neither Customer nor (if applicable) Customer's
guarantor is operating under any chapter of the
bankruptcy laws or is subject to liquidation or debt
reduction procedures under state laws, such as an
assignment for the benefit of creditors, or any informal
creditors' committee agreement. An exception may be
made upon Pipeline's approval for a Customer or (if
applicable) Customer's guarantor who is a debtor in
possession operating under Chapter 11 of the Federal
Bankruptcy Act but only with adequate assurance that the
service billing will be paid promptly as a cost of
administration under the federal court's jurisdiction.
(e) Customer/Interconnecting Party shall confirm at the time
of the Request in writing for the benefit of Pipeline
that Customer is not aware of any change in business
conditions which would cause a substantial deterioration
in its or (if applicable) its guarantors financial
condition, a condition of insolvency, or the inability
to exist as an ongoing business entity.
(f) Customer/Interconnecting Party with an ongoing business
relationship with Pipeline shall have no delinquent
balances outstanding for services made previously by
Pipeline, and each Customer must have (i) paid its
account according to the established terms and (ii) not
made deductions or withheld payment for claims not
authorized by contract.