Rendezvous Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 02/08/2007, Docket: RP07- 6-000, Status: Effective

Original Sheet No. 35 Original Sheet No. 35 : Pending

 

(4) No significant collection lawsuits or

judgments are outstanding which would

seriously reflect upon the Shipper's

ability to remain solvent.

 

(iii)Such other documentation as the

Transporter shall reasonably request in

connection with the service contemplated;

 

(iv) A list of Shipper's affiliates, including

parent and subsidiaries, if applicable. In

the event Shipper cannot provide the

information above, Shipper shall, if

applicable, provide that information for its

parent company.

 

(c) If Shipper fails to satisfy these creditworthiness

criteria, Shipper may still obtain service

hereunder if it elects to provide security for the

payment of amounts due, as follows:

 

(i) One or more irrevocable, transferable,

standby letters of credit from a major U.S.

commercial bank or a foreign bank with a U.S.

branch office. Such bank shall have a credit

rating of at least "A+" from Standard &

Poor's or "A1" from Moody's and $10 Billion

in assets. The letter of credit shall be in

favor of and in a form acceptable to

Transporter; or

 

(ii) A guaranty in favor of and in a form

acceptable to Transporter from an entity

acceptable to Transporter; or

 

(iii)A cash prepayment in an amount equal to

the cost of up to three (3) Months of the

service requested.

 

(d) Transporter shall not be required to perform or to

continue service under any Rate Schedule on behalf

of any Shipper who is or has become insolvent or

who, at Transporter's request, fails within a

reasonable period to demonstrate creditworthiness.

For purposes herein, the insolvency of a Shipper

shall be conclusively demonstrated by the filing

by Shipper or any parent entity thereof

(hereinafter collectively referred to as "the

Shipper") of a voluntary petition in bankruptcy or

the entry of a decree or order by a court having

jurisdiction in the premises adjudging the Shipper

bankrupt or insolvent, or approving, as properly

filed, a petition seeking reorganization,

arrangement, adjustment or composition of or in

respect of the Shipper under the Federal

Bankruptcy Act or any other applicable federal or

state law, or appointing a receiver, liquidator,

assignee, trustee, sequestrator (or other similar

official) of the Shipper or of any substantial

part of its property, or the ordering of the

winding-up or liquidation of its affairs.

 

(e) Transporter may specify in the executed Service

Agreement a maximum level of service to be

provided to Shipper based on the creditworthiness

criteria specified in this Section 11 ("credit

limit"). Transporter is not obligated to provide

service to Shipper if such service would cause

Shipper to exceed its credit limit.