Enbridge Offshore Pipelines (Utos) LLC

FIFTH REVISED VOLUME NO. 1

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Effective Date: 08/01/2009, Docket: RP09-815-000, Status: Effective

First Revised Sheet No. 150 First Revised Sheet No. 150

Superseding: Original Sheet No. 150

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

-n

r X 1-(1+i) X u = Net Present Value

______

i

 

Where: i = The interest rate per Month;

N = The number of Months in the term of the

proposed agreement;

R = The proposed reservation charge per unit

per Month or volumetric rate, if

applicable; and

U = The maximum daily quantity of capacity

requested, in Dth.

 

(ii) In the event both a contingent Qualified Bid and

a non-contingent Qualified Bid generate the same

Net Present Value, UTOS shall reject the

contingent Qualified Bid.

 

(iii) The Qualified Bid or applicable Prearranged

Transaction with the highest Net Present Value

shall be the winning bid, except that any

Qualified Bid with a higher Net Present Value

than a Prearranged Transaction for the same

capacity shall be subject to the right of first

refusal of the Prearranged Shipper in that

Prearranged Transaction under subsection 17.7(c)

of this Section 17.

 

(iv) If, following identification of the highest-

value Qualified Bid or Prearranged Transaction,

the capacity that remains available for release

under the Release Proposal is greater than the

capacity requested in the Qualified Bid or

Prearranged Transaction with the next highest

Net Present Value, then capacity shall also be

awarded to such next highest bid. This procedure

shall continue until the award of capacity to a

Qualified Bid or Prearranged Transaction with

the next highest Net Present Value would cause

the remaining available capacity under the

Release Proposal to be exceeded.

 

(c) Right of First Refusal of Prearranged Shipper. If the

procedures described in subsection 17.7(a) or 17.7(b)

result in selection of a Qualified Bid with a higher

value than a Prearranged Transaction for the same

capacity, then UTOS shall provide the Prearranged

Shipper in the Prearranged Transaction with the terms

and conditions of such highest-value Qualified Bid.

Such information shall be communicated via UTOS'

Interactive Internet Website by 3 p.m. Central Time on

the Business Day prior to the nomination deadline

applicable to the effective date of the release. If

the Prearranged Shipper elects to match the highest-

value