Monroe Gas Storage Company, LLC

Original Volume No. 1

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Effective Date: 04/29/2009, Docket: RP09-447-000, Status: Effective

Original Sheet No. 113 Original Sheet No. 113

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

2. CONTRACTING FOR STORAGE SERVICE (Continued)

 

2.3 Creditworthiness (Continued)

 

(a) Credit Information (Continued)

 

(5) Notice of Non-creditworthiness (Continued)

 

(C) Following Operator's receipt of a Potential

Customer/Customer's request for re-evaluation, within

five (5) Business Days Operator shall provide a

written response to Potential Customer/Customer's

request for re-evaluation. Such written response shall

include either a determination of creditworthiness

status, clearly stating the reason(s) for Operator's

decision, or an explanation supporting a future date

by which a re-evaluation determination will be made.

In no event shall such re-evaluation determination

exceed twenty (20) Business Days from the date of the

receipt of Potential Customer/Customer's request,

unless Potential Customer/Customer and Operator

mutually agree to some later date.

 

(b) Minimum Acceptable Credit Rating

 

(1) Potential Customer/Customer will be deemed creditworthy if

its unenhanced long-term senior unsecured debt is rated, or

if its issuer credit rating is, at least "BBB-" by Standard

& Poor's ("S&P") or "Baa3" by Moody's ("Moody's) ("Minimum

Acceptable Credit Rating"), provided that, in the event that

such ratings by S&P and Moody's vary by more than one

"notch," the middle rating between the two actual ratings,

rounded upwards if there are an even number of ratings

notches between the two actual ratings, shall be used for

purposes of determining whether Customer has achieved the

Minimum Acceptable Credit Rating. The applicable credit

rating shall be a "foreign currency" rating if Customer is

domiciled outside of the United States. "Local currency"

ratings are unacceptable unless Potential

Customer/Customer's local currency is US Dollars.