Maritimes & Northeast Pipeline, L.L.C.

First Revised Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 01/07/2008, Docket: RP08-113-000, Status: Effective

First Revised Sheet No. 224 First Revised Sheet No. 224 : Effective

Superseding: Original Sheet No. 224

GENERAL TERMS AND CONDITIONS

(continued)

 

3. SERVICE REQUESTS AND CONTRACTING FOR SERVICE (continued)

 

(g) Customer/Interconnecting Party shall confirm at the

time of the Request in writing for the benefit of

Pipeline that no significant claims, lawsuits, or

judgments are outstanding which would materially

affect Customer's or (if applicable) its guarantor's

ability to remain solvent as a business entity.

 

3.8 Upon notification by Pipeline that Customer/Interconnecting

Party has failed to satisfy the credit criteria for a Long

Term Service Agreement, or subsequently during the term of

a Long Term Service Agreement if Customer no longer

satisfies such credit criteria in which case Customer shall

notify Pipeline that Customer or (if applicable) Customer's

guarantor fails to continue to satisfy the credit criteria

set forth in Section 3.7, immediately upon becoming aware

of such failure, such Customer may still obtain credit

approval by Pipeline if it elects to provide one of the

following:

 

(a) an advance deposit in the amount specified below;

 

(b) a standby irrevocable letter of credit from a

financial institution acceptable to the Pipeline in

the amount specified below;

 

(c) security interest in collateral satisfactory to

Pipeline; or

 

(d) a guaranty, acceptable to Pipeline, by another person

or entity which satisfies the credit appraisal

criteria set forth in Section 3.7.

 

If Customer/Interconnecting Party provides an advance

deposit or other credit instrument and then

subsequently satisfies or obtains a guaranty from an

entity that satisfies the credit criteria set forth in

Section 3.7, Pipeline shall return to

Customer/Interconnecting Party any such advance

deposit or credit instrument with interest where

applicable at the same rate as prescribed for pipeline

refunds as set forth in Section 154.501(d) of the

Commission's Regulations under the Natural Gas Act.