Total Peaking Services, L. L. C.

Original Volume No. 1

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Effective Date: 04/01/1998, Docket: CP96-339-001, Status: Effective

Original Sheet No. 74 Original Sheet No. 74 : Effective

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

12. BILLING (Continued)

 

12.4 Late Payments. Should Customer fail to make timely payment of

part or all of the amount of any bill, payment, when made, either

partly or all, shall be deemed a late payment and Total Peaking

shall charge interest from the due date of payment until the

actual date of payment at an annual interest rate equal to two

percent (2%) above the prime rate published under "Money Rates"

by the Wall Street Journal, or the maximum legal rate, whichever

is lesser, prorated for the number of days that the payment was

late.

 

Total Peaking shall bill Customer for any interest due under this

subsection in its next billing for gas service, and Customer

shall pay such amount in accordance with Subsection 12.3 above.

Notwithstanding the foregoing provisions of this subsection,

where a Customer fails to make timely payments three times during

any twelve-month period, the applicable interest rate for

subsequent late payments during such twelve month period shall be

twice the sum of the current national prime interest rate plus 1-

1/2 percent, but not in excess of the maximum lawful rate. Total

Peaking may waive the interest on a late payment made within five

days of the due date where Customer has diligently paid its prior

bills on time, and lateness in payment is of a nonrecurring

nature.

 

Should Customer fail to pay the bill for thirty days after

payment is due, Total Peaking shall provide notice to Customer

that its payment is in arrears. If payment is not made or

guaranty provided within 60 days after receipt of such notice,

service will be suspended until payment is made or security

provided. If payment is not made or security furnished, then

termination of service may be sought, including FERC abandonment

authorization.