ANR Storage Company

Original Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-172-002, Status: Effective

First Revised Sheet No. 143 First Revised Sheet No. 143 : Effective

Superseding: Original Sheet No. 143

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

If rendering of an invoice by Seller is delayed after the

ninth (9th) Business Day of the Month, then the time of

payment shall be extended accordingly unless Customer is

responsible for such delay. Should Customer fail to pay all of

the amount of any invoice as herein provided when such amount

is due, interest on the unpaid portion of the invoice shall

accrue from the due date until the date of payment at a rate

of interest equal to the Prime Rate plus two percent (2%)

charged by Citibank, N.A. during that period to responsible

commercial and industrial borrowers, but which in no event

shall be higher than the Maximum Rate permitted by applicable

law. If such failure to pay continues, then following thirty

(30) Days prior written notice from Seller of its intent to

abandon service under the Agreement, Customer shall be deemed

to have consented to such abandonment of service, unless

within the thirty (30) Day period Customer pays to Seller the

entire balance due with interest, and Seller, in addition to

any other remedy it may have hereunder, may suspend further

injection or withdrawal of Gas for Customer and may enter into

Agreements to provide service to others using Customer's

capacity and deliverability; provided, however, that if

Customer in good faith shall dispute the amount of any such

invoice or part thereof and shall pay to Seller such amounts

not in dispute, accompanied by documentation supporting the

basis for the dispute and, at any time thereafter within

thirty (30) Days of a demand made by Seller, shall furnish a

good and sufficient surety bond in an amount and with surety

satisfactory to Seller or other assurance acceptable to

Seller, guaranteeing payment to Seller of the amount

ultimately found due upon such invoice after a final

determination which may be reached either by agreement or

judgment of the courts, as may be the case, then Seller shall

not be entitled to suspend further injection or withdrawal of

such Gas or to terminate or abandon service under the

Agreement unless and until default be made in the conditions

of such bond. The foregoing shall be in addition to any other

remedies Seller may have, at law or in equity, with respect to

Customer's failure to pay the amount of any invoice.