Pacific Interstate Offshore Company

Second Revised Volume No. 1

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Effective Date: 01/01/1994, Docket: RS92- 73-001, Status: Effective

Original Sheet No. 44 Original Sheet No. 44 : Effective

GENERAL TERMS AND CONDITIONS (cont'd)

9. BILLING AND PAYMENT (cont'd)

9.2 Access to Billing Data

Transporter and Shipper shall have the right at all

reasonable times to examine the books, records and

charts of each other to the extent necessary to

verify the accuracy of any billing, statement,

charge or computation made by the other pursuant to

the provisions hereof.

9.3 Payment

Shipper shall pay Transporter on or before the 20th

day of each calendar month the amount due under

Transporter's rate schedule for the preceding

calendar month. If presentation of a bill by

Transporter is delayed after the 10th day of the

calendar month, then the time of payment shall be

extended accordingly unless Shipper is responsible

for such delay.

9.4 Penalty for Late Payment

In the event of late payment of any bill, the unpaid

amount thereof shall be subject to a penalty charge,

from the date due until paid, at an annual rate,

compounded annually, equal to 125% of the prime rate

being charged by Bank of America (NT&SA) at Los

Angeles, California, in effect on the first banking

day after the invoice payment is due and thereafter

revised from time to time.