Empire Pipeline, Inc.
Original Volume No. 1
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Effective Date: 12/10/2008, Docket: CP06-5-010, Status: Effective
Original Sheet No. 118 Original Sheet No. 118
GENERAL TERMS AND CONDITIONS
2. QUALIFICATION FOR SERVICE (Cont'd.)
status, unless Shipper complies with Transporter's security
requirements. A Shipper that loses its creditworthiness
status may continue service by providing an advance payment
of an amount equal to one month's charges for services, and
satisfying the requirements of Section 2.2(e) within thirty
(30) days of the date of the notice.
(d) Transporter also reserves the right, on an on-going basis,
to limit Shipper's service to a level that is commensurate
with Shipper's credit limit.
(e) Security Requirements
(i) A non-creditworthy Shipper may receive service if Shipper
prepays for such service, pursuant to a pre-payment
agreement, or provides Transporter, with adequate
security
A) in the form of:
1) a grant to Transporter of a security interest
in the form of cash collateral; or
2) an irrevocable stand-by letter of credit,
satisfactory in form and substance to
Transporter, from a bank or other financial
institution acceptable to Transporter; and