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. 129 Original Sheet No. 129

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

24. MISCELLANEOUS (Continued)

 

24.7 Creditworthiness - Determinations and Requirements (Continued)

 

(e) Creditworthiness - Financial Assurances (Continued)

 

(1) Term Meanings (Continued)

 

(E) "Material Adverse Change" means the failure of

Customer or guarantor at any time to satisfy the

requirements pertaining to creditworthiness set

forth in Section 24.7(a), to maintain an

Acceptable Credit Rating or to maintain or

reinstate one of the forms of Financial

Assurances specified in Section 24.7(e)(4)

within five (5) Business Days after written

notice from Bobcat; and

 

(F) "Financial Assurances" means one or more of the

forms of security set forth in Sections

24.7(e)(4)(A), 24.7(e)(4)(B), 24.7(e)(4)(C) and

24.7(e)(4)(D), in accordance with and in an

amount equal to the Collateral Requirement as

set forth in Section 24.7(e)(4).

 

(2) If Customer suffers a Material Adverse Change, then,

within five (5) Business Days after written notice

from Bobcat, Customer shall provide Bobcat with one or

more of the forms of Financial Assurances as set forth

in Section 24.7(e)(4).

 

(3) If prior to initiation of service Customer does not

have an Acceptable Credit Rating, then, as a condition

of Bobcat initiating service, Customer shall provide

Bobcat with one or more of the forms of Financial

Assurances provided in Section 24.7(e)(4).

 

(4) A Customer that does not have, or at any time fails to

maintain, an Acceptable Credit Rating shall provide to

Bobcat, to secure its obligation to Bobcat pursuant to

each of Customer's Storage Service Agreements, one or

more of the following forms of Financial Assurances: