High Island Offshore System, L.L.C.

Third Revised Volume No. 1

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Effective Date: 11/01/2010, Docket: RP10-1229-000, Status: Effective

Eighth Revised Sheet No. 128 Eighth Revised Sheet No. 128

Superseding: Seventh Revised Sheet No. 128

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

17.4(k) Any additional terms and conditions of releases that are

objective and non-discriminatory (e.g. any tie-breaking

methodology, agency agreement requirements, limiting

reassignment, changing Point(s) of Delivery, or precluding

reassignment of a release without notice to and consent of the

releasor, or indemnification agreement requirements). In all

cases, however, Releasing Shipper's specified bid evaluation

method must be set forth with sufficient specificity that HIOS'

evaluation of the bids to determine the "best bid" is a purely

ministerial matter that does not require any discretionary

exercise of judgment by HIOS.

 

17.4(l) HIOS will post offers and bids, including prearranged deals,

upon receipt. A Releasing Shipper may request a later posting

time for posting of such offer, and HIOS will support such

request insofar as it comports with the standard Capacity

Release timeline in Section 17.5.

 

17.5 Posting of Release Proposals. Completed Release Proposals that conform

to the requirements of subsection 17.4 of this Section 17 shall be posted

on the HIOS' Interactive Internet Website in accordance with the

following procedures:

 

17.5(a) Posting With No Prearranged Transaction or With Long-Term

Prearranged Transaction.

 

NAESB Standard 5.3.2 (Version 1.9) states:

 

(i) For biddable releases (1 year or less):

(1) offers should be tendered by 12:00 P.M. on a Business Day;

(2) open season ends no later than 1:00 P.M. on a Business

Day(evaluation period begins at 1:00 P.M. during which

contingency is eliminated, determination of best bid is

made, and ties are broken);

(3) evaluation period ends and award posting if no match

required at 2:00 P.M.;

(4) match or award is communicated by 2:00 P.M.;

(5) match response by 2:30 P.M.;

(6) where match required, award posting by 3:00 P.M.;

(7) contract issued within one hour of award posting (with a new

contract number, when applicable); nomination possible

beginning at the next available nomination cycle for the

effective date of the contract. (Central Clock Time)