T.W. Phillips Pipeline Corp.

Original Volume No. 1

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Effective Date: 01/01/2010, Docket: RP10-141-000, Status: Effective

Original Sheet No. 68 Original Sheet No. 68

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

22.4.7. Bids shall be binding until written or electronic notice of withdrawal is

received by Transporter. Bids cannot be withdrawn after the bid period

ends.

 

22.4.8. In the event that a winning bid has an unacceptable contingency, and

Transporter is not notified through the Website that such contingency has

been removed within the time period specified in the Shipper Notice, such

contingent bid will be rejected by Transporter.

 

22.4.9. The Releasing Shipper may define in the Shipper Notice the criteria for

determining the best bid. If the Releasing Shipper does not specify the

criteria, Transporter shall use the highest economic value to determine

the best bid. If there are multiple bids meeting the minimum conditions,

Transporter shall award the bids, best bid first, until all offered capa-

city is awarded. Transporter will notify, through the Website by 2:00

p.m. Central Time following the end of the posting period, or by 3:00 p.m.

Central Time if a matching period is applicable, the PRS or Replacement

Shipper that capacity has been awarded. Transporter shall allow re-

releases on the same terms and basis as the primary release (except as

prohibited by the Commission’s regulations).

 

22.4.10.Transporter will post the winning bid and Replacement Shipper’s identify

on the Website for at least five (5) business days.

 

22.5. Rights and Obligations of Releasing and Replacement Shippers

 

22.5.1. Releasing Shipper shall remain liable for all its contractual obligations

including the Reservation Charges, Negotiated Rates, Discounted Rates,

and all other applicable charges and surcharges, attributable to the

released capacity unless otherwise agreed to in writing and in advance by

Transporter. In the event of a permanent release, Transporter may waive

liability of Releasing Shipper for all its contractual obligations.

 

22.5.2. When capacity is awarded to Replacement Shipper, Releasing Shipper must

adjust or reconfirm its nominations to reflect the capacity released.

Transporter may automatically change Releasing Shipper’s nominations to

zero for the FT Agreement under which capacity was released unless such

nominations are adjusted or reconfirmed by the Releasing Shipper.