High Island Offshore System, L.L.C.
Third Revised Volume No. 1
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Effective Date: 04/07/1999, Docket: GT99- 17-000, Status: Effective
Original Sheet No. 120 Original Sheet No. 120 : Effective
GENERAL TERMS AND CONDITIONS
conditional award of capacity to a Qualified Bid
with the next highest Net Present Value would cause
the remaining available capacity to be exceeded.
16.8(c) If there are two or more Qualified Bids with equal
Net Present Values, then the capacity shall be
awarded conditionally to the Qualified Bidder whose
Qualified Bid was received first during the posting
period, and if two or more such Qualified Bids of
equal value were received on the same day, the
capacity shall be conditionally allocated between
or among them on a pro rata basis.
16.9 Right of First Refusal of Existing Shipper.
16.9(a) Within 15 days following the close of the posting
period specified in subsection 16.4 above, HIOS
shall forward to the Existing Shipper, by mail or
facsimile, the particulars of the Qualified Bid(s)
representing the highest bid, without revealing the
identity of the Qualified Bidder(s).
16.9(b) Within seven (7) days following receipt of the
particulars forwarded by HIOS pursuant to
subsection 16.9(a), the Existing Shipper may match
the highest bid(s) for the capacity by submitting a
binding written offer to HIOS, by mail or
facsimile, to accept the reservation charge and
transaction term provisions of the highest bid(s),
for the amount of capacity covered by the bid(s)
that the Existing Shipper wishes to retain,
provided, however, that in order to retain the
capacity, the Existing Shipper need not match a
proposed transaction term in excess of 20 years in
duration. If the Existing Shipper matches the
highest bid(s), then the affected capacity
shall be retained by that shipper, and HIOS