Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 06/15/2003, Docket: RP03-479-000, Status: Effective

First Revised Sheet No. 263B First Revised Sheet No. 263B : Superseded

Superseding: Original Sheet No. 263B

GENERAL TERMS AND CONDITIONS

(Continued)

shall be deemed to be effectuated by

Panhandle when Panhandle sends the

imbalance trade notification.

(vii) After receipt of an imbalance trade

confirmation, Panhandle shall send the

imbalance trade notification to the

initiating Shipper and the confirming

Shipper no later than noon (Central

Time) on the next Business Day.

(3) Operational Impact Area

For purposes of this Section 12.11(d), two or more

Transportation Agreements shall be deemed to be

within the same Operational Impact Area only

if the Transportation Agreements provide for

the Transportation of Natural Gas solely within the

Field Zone; or if the Transportation Agreements

provide for either the receipt or delivery of

Natural Gas within the Market Zone.