Bobcat Gas Storage

Original Volume No. 1

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Effective Date: 10/15/2008, Docket: RP08-608-000, Status: Effective

Original Sheet No. 125 Original Sheet No. 125

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

24. MISCELLANEOUS (Continued)

 

24.7 Creditworthiness - Determinations and Requirements (Continued)

 

(b) Bobcat shall not be required to perform or to continue

service under any Rate Schedule on behalf of any Customer or

prospective Customer which, upon Bobcat's request for

demonstration of creditworthiness, fails within a reasonable

period to demonstrate creditworthiness in accordance with

Section 24.7(a); provided, however, that such Customer or

prospective Customer may receive service under any Rate

Schedule if it provides Financial Assurances pursuant to

Section 24.7(e). Notwithstanding the foregoing, Bobcat

shall not be required to perform or to continue service

under any Rate Schedule on behalf of any Customer or

prospective Customer which is or has become insolvent,

irrespective of whether it provides Financial Assurances

pursuant to Section 24.7(e). For purposes of this Section

24.7(b), the insolvency of a Customer or prospective

Customer shall be conclusively demonstrated by the filing by

Customer, or any parent entity thereof or guarantor of

Customer, of a voluntary petition in bankruptcy or the entry

of a decree or order by a court having jurisdiction in the

premises adjudging the Customer, or any parent entity

thereof or guarantor of Customer, bankrupt or insolvent, or

approving, as properly filed, a petition seeking

reorganization, arrangement, adjustment or composition of or

in respect of the Customer, or any parent entity thereof or

guarantor of Customer, under the U.S. Bankruptcy Code or any

other applicable federal or state law, or appointing a

receiver, liquidator, assignee, trustee, sequestrator (or

other similar official) of the Customer, or any parent

entity thereof or guarantor of Customer, or of any

substantial part of their property, or the ordering of the

winding-up or liquidation of their affairs, with said order

or decree continuing unstayed and in effect for a period of

sixty (60) consecutive days.