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