Stingray Pipeline Company, L. L. C.

Third Revised Volume No. 1

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Effective Date: 08/01/2009, Docket: RP08-436-004, Status: Effective

Fifth Revised Sheet No. 135 Fifth Revised Sheet No. 135

Superseding: Fourth Revised Sheet No. 135

GENERAL TERMS AND CONDITIONS

11.5 REFUND/USE OF CASH-OUT REVENUES IN EXCESS OF/LESS THAN COSTS

(a) This Section of the General Terms and Conditions sets

forth the procedures under which Stingray will refund,

use or invoice, for each annual billing period, any

difference between the revenues received by Stingray

and the costs incurred by Stingray under the cash-out

provisions of Stingray's firm and interruptible

transportation Rate Schedules (including without

limitation costs associated with Gas purchases/sales

valued at the then-current market prices to account

for imbalances under OBAs that require "in kind"

reimbursement at later dates). For purposes of this

Section 11, an annual billing period shall be the

twelve (12) Month period commencing each December 1

and ending the following November 30 with the first

such annual billing period commencing December 1, 1993

and ending November 30, 1994.

(b) Subsequent to the end of each annual billing period,

Stingray shall compare the revenues received and the

costs incurred during the applicable annual period.

If the revenues received exceed the costs incurred,

then Stingray shall either (1) refund, within sixty

(60) Days of the end of the annual billing period, the

net overrecoveries to firm and interruptible

transportation customers on a pro rata basis in

accordance with the transportation revenues (exclusive

of penalty revenues) Stingray received for the annual

billing period or (2) use the net overrecoveries to

reduce any amount owed to Stingray (or to add to any

amount owed by Stingray) in the Company Use Gas

account, with the AMIP for November of the annual

billing period used as the Gas price for determining

the quantity (in Dths) to be deducted from the amount

of Gas owed to Stingray (or to be added to any amount

owed by Stingray, as applicable). In no event will a

Shipper's refund exceed the revenue level utilized to

determine its pro rata share. If the revenues

received are less than the costs incurred, then

Stingray shall use the net underrecoveries to add to

any amount owed to Stingray in the Company Use Gas

account, with the AMIP for November of the annual

billing period used as the Gas price for determining

the quantity (in Dths) to be added to the amount of

Gas owed to Stingray (or decrease the amount owed by

Stingray, as applicable).