MidContinent Express Pipeline LLC

Original Volume No. 1

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Effective Date: 04/10/2009, Docket: RP09-136-000, Status: Effective

Original Sheet No. 176 Original Sheet No. 176

 

GENERAL TERMS AND CONDITIONS

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(iv) Shipper must not be operating under

any chapter of the bankruptcy laws and must not be subject to

liquidation or debt reduction procedures under state laws and there

must not be pending any petition for involuntary bankruptcy. An

exception may be made for a Shipper who is a debtor in possession

operating under Chapter XI of the Federal Bankruptcy Act if MEP is

assured that the service billing will be paid promptly as a cost of

administration under the federal court's jurisdiction, based on a

court order in effect, and if the Shipper is continuing and continues

in the future actually to make payment.

 

(v) Whether Shipper is subject to any

lawsuits or judgments outstanding which could materially impact its

ability to remain solvent.

 

(vi) Whether Shipper has or has had any

delinquent balances outstanding for services provided previously by

MEP and whether Shipper is paying and has paid its account balances

according to the terms established in its Agreements (excluding

amounts as to which there is a good faith dispute).

 

(vii) The nature of the Shipper's business

and the effect on that business of general economic conditions and

economic conditions specific to it, including Shipper's ability to

recover the costs of MEP's services through filings with regulatory

agencies or otherwise to pass on such costs to its customers.

 

(viii) Any other information, including any

information provided by Shipper, that is relevant to Shipper's

current and future financial strength and Shipper's ability to make

full payment over the term of the contract.

 

 

(4) Information which MEP may request to be

provided by Shipper to MEP in connection with such a credit

evaluation includes the following:

 

(i) Audited Financial Statements;

 

(ii) Annual Report;