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. 226 Original Sheet No. 226

 

GENERAL TERMS AND CONDITIONS

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(c) Once the conditions in subsections (a) or (b) are

met, upon written request by the Releasing Shipper and consent by

MEP, the Releasing Shipper shall be discharged from its obligation

assumed by the Replacement Shipper.

 

14.19 CONVERSIONS BETWEEN MONTHLY AND DAILY RESERVATION RATES

 

For less than maximum rate transactions only, converting

the Daily rate to a Monthly rate is accomplished by multiplying the

Daily rate times the number of Days in the rate period, dividing the

result by number of Months in the rate period and taking the

remainder out to five (5) decimal places and rounding up or down to

MEP's specified decimal place. Converting a Monthly rate to a Daily

rate is accomplished by multiplying the Monthly rate by number of

Months in rate period, dividing the result by number of Days in rate

period and taking the remainder out to five (5) decimal places and

rounding up or down to MEP's specified decimal place.

 

14.20 MEP'S RIGHT TO TERMINATE A CAPACITY RELEASE

 

MEP may elect to terminate a Replacement Shipper's

Agreement with MEP upon prior written notice of at least thirty (30)

days to the Replacement Shipper, under the following conditions:

 

(a) The Releasing Shipper has failed to make timely

payment or maintain credit (or provide adequate assurance of payment)

in accordance in Sections 2.8 and/or 12 of these General Terms and

Conditions and MEP has suspended or terminated service to the

Releasing Shipper or has provided notice under Section 2.8 or 12.2

which ultimately results in suspension or termination of service; and

 

(b) The rate stated in the Replacement Shipper's

Agreement is less than the rate for service under MEP's contract with

the Original Shipper; provided, however, that a Replacement Shipper

which is creditworthy can continue an existing capacity release by

notifying MEP that it agrees to pay the same rate as is in the

original Agreement between MEP and the Releasing Shipper. In the

alternative, MEP and the Replacement Shipper may agree upon other

pricing terms, including payment of the maximum tariff rate or some

other rate that is acceptable to the pipeline, in which case the

release shall continue. Such an arrangement must be effectuated prior

to the end of the notice period.