Caledonia Gas And Storage

First Revised Volume No. 1

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Effective Date: 09/30/2010, Docket: RP10-1032-000, Status: Effective

Original Sheet No. 61 Original Sheet No. 61

 

in full when due. Subject to Caledonia’s right, in its sole

discretion, to apply the Cash Collateral against any outstanding

costs, fees, or other obligations that Customer owes to Caledonia,

Caledonia will return the Cash Collateral to Customer within 30 days

following the completion or termination of the relevant transaction.

4.5 Lack of Creditworthiness.

(a) If Customer fails to maintain an Acceptable Credit Rating or

Financial Assurances in accordance with Section 2.2 and Section 4.4 and

such failure is not cured within 5 days following written notice, such

failure may be treated as an Event of Default under Section 23 and may

result in the termination of Customer’s Service Agreements.

(b) If at any time Caledonia reasonably determines that Customer is not

creditworthy under Section 4 of these General Terms and Conditions,

Caledonia shall notify such Customer in writing via Internet E-mail,

facsimile or some other way agreed upon by both parties within ten (10)

days following its decision and the reasons for such determination.

(c) If a Customer does not meet the criteria described in this Section

4, then the Customer may request that Caledonia evaluate its

creditworthiness based upon the level of service requested relative to

the Customer’s current and future ability to meet its obligations or

the Customer’s Credit Support Provider’s current and future ability to

secure the Customer’s obligations.

(d) After Caledonia’s receipt of a Customer’s request for

re-evaluation, including all required information pursuant to NAESB

WGQ Standard 0.3.8 (“Customer’s Request”), within five (5) Business

Days Caledonia shall provide a written response to the Customer’s

Request. Such written response shall include either a determination of

creditworthiness status, clearly stating the reason(s) for Caledonia’s

decision, or an explanation supporting a future date by which a

re-evaluation determination will be made. In no event shall such

re-evaluation determination exceed twenty (20) Business Days from the

date of the receipt of the Customer’s Request unless specified in

Caledonia’s Tariff or if the Parties mutually agree to some later date.

4.6 Warehouseman’s Lien. Caledonia shall be entitled to, and Caledonia

hereby claims, a lien on all Gas Delivered to Caledonia by or on behalf

of Customer, and all proceeds related thereto, as provided for under

Miss. Code Ann. § 75-7-209, with the rights of enforcement as provided

herein, under Miss. Code Ann.§ 75-7-210 and to the maximum extent as

may be otherwise permitted by applicable law. Miss. Code Ann. § 75-7-1

et seq. is