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. 132 Original Sheet No. 132

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

24. MISCELLANEOUS (Continued)

 

24.7 Creditworthiness - Determinations and Requirements (Continued)

 

(e) Creditworthiness - Financial Assurances (Continued)

 

(4) Forms of Financial Assurances (Continued)

 

(D) At Customer's request, Bobcat may accept other

forms of Financial Assurances to secure

Customer's obligations under the Storage Service

Agreements, provided that Bobcat may reject or

accept such other forms of Financial Assurances

in a manner that is not unduly discriminatory.

 

(f) Customer's obligation to maintain an Acceptable Credit

Rating or to provide Financial Assurances shall continue for

so long as the Parties are bound by the Storage Service

Agreements and all transactions entered into thereunder.

This obligation shall terminate when Customer has performed

or satisfied all of its obligations under the Storage

Service Agreements. Upon the termination of a Storage

Service Agreement, Bobcat shall return to Customer, if

applicable:

 

(1) the Letter of Credit and funds held by Bobcat as

security pursuant to Section 24.7(e)(4)(A) then in its

possession but only to the extent it has not then

applied such funds pursuant to this FERC Gas Tariff to

the debts, expenses, costs, assessments and

liabilities payable by Customer to Bobcat pursuant to

the provisions of the Storage Service Agreement(s);

 

(2) the Guaranty held by Bobcat pursuant to Section

24.7(e)(4)(B);

 

(3) any security interest in amounts prepaid by Customer

pursuant to Section 24.7(e)(4)(C) not required to pay

charges for service rendered under the Storage Service

Agreements; or

 

(4) any other forms of Financial Assurances accepted by

Bobcat pursuant to Section 24.7(e)(4)(D).

 

(g) Termination of a Customer's Storage Service Agreement based

on non-creditworthiness shall be in accordance with Section

24.5 of the General Terms and Conditions.