National Fuel Gas Supply Corporation

Third Revised Volume No. 1

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Effective Date: 04/01/1997, Docket: RP97-201-000, Status: Effective

Original Sheet No. 237.22 Original Sheet No. 237.22 : Superseded

 

GENERAL TERMS AND CONDITIONS

 

 

31. QUALIFICATION FOR SERVICE (Cont'd.)

 

(B) for all other services, the cost of performing the

service requested by Shipper for a three-month

period; or

 

(ii) if it prepays for service or furnishes an irrevocable

letter of credit pursuant to Section 31.2(c) hereof.

 

For purposes herein, the insolvency of a Shipper shall be evi-

denced by the filing by Shipper or any parent entity thereof

(hereinafter collectively referred to as "the Shipper") of a

voluntary petition in bankruptcy or the entry of a decree or

order by a court having jurisdiction in the premises adjudging

the Shipper bankrupt or insolvent, or approving, as properly

filed, a petition seeking re-organization, arrangement,

adjustment or composition of or in respect of the Shipper

under the Federal Bankruptcy Act or any other applicable

federal or state law, or appointing a receiver, liquidator,

assignee, trustee, sequestrator (or other similar official) of

the Shipper or of any substantial part of its property, or the

ordering of the winding-up or liquidation of its affairs, with

said order or decree continuing unstayed and in effect for a

period of sixty (60) consecutive days.

 

(b) For purposes of Section 31.2(a), a Shipper's credit worthi-

ness shall not have been demonstrated if (i) the Shipper has

a poor credit history, as established by a reliable reporting

agency, or with respect to any services provided by Seller, or

(ii) the Shipper's net worth, or its unencumbered assets in

each state in which Seller operates, is worth less than the

amount applicable under Section 31.2(a)(i). Transporter may,

from time to time, limit the service it provides to Shipper to

such level as is commensurate with the prepayment or other

security provided as set forth above, or as is necessary to

ensure that neither Shipper's net worth, nor its unencumbered

assets in the states in which Seller operates is less than the

amount applicable under Section 31.2(a)(i).