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.