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. 174 Original Sheet No. 174
GENERAL TERMS AND CONDITIONS
12. CAPACITY RELEASE (Cont'd.)
(c) Bids are binding until written or electronic notice of
withdrawal is received by Transporter. Bids cannot be
withdrawn after the bid period ends. Following the
withdrawal of a bid, a Potential Shipper may not submit a
bid lower than the bid withdrawn during the remainder of
the posting period. For this purpose, bids will be
determined to be "higher" or "lower" than the withdrawn bid
by application of the standard applicable to the
determination of best bid, as set forth in Section 12.5.
(d) Notwithstanding Sections 12(a)(viii) and 12.4(a) hereof,
Existing Shipper may establish a security requirement for
Prearranged or Potential Shippers that is less than that
prescribed by Section 2.2(e) of these General Terms and
Conditions, provided that the security requirement is
adequate to cover a value determined under Section
2.2(e)(i)(B) without regard to revenues creditable to the
Existing Shipper under Section 12.9 hereof.