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
(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;