Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 10/18/1999, Docket: RP99-482-000, Status: Effective

Fourth Revised Sheet No. 277 Fourth Revised Sheet No. 277 : Superseded

Superseding: Sub Third Revised Sheet No. 277

GENERAL TERMS AND CONDITIONS

(Continued)

as methods and rights associated with returning the

previously recalled capacity to the Replacement

Shipper. The Releasing Shipper may specify further

objective and nondiscriminatory conditions in its

Release Notice, such as alternative economic

criteria for evaluating bids which may include

highest rate, net revenues or present value, whether

volumetrically stated bids will be accepted, whether

a volumetric commitment is required, alternative

methods for breaking ties, whether contingent bids

will be accepted and, if so, the method by which

contingent bids will be evaluated and when the

contingency must be removed, and whether bids for a

portion of the capacity offered will be accepted or

whether a prepayment deposit, not to exceed the

prepayment deposit set forth in Section 6.9, will be

required to be paid to the Releasing Shipper;

provided, however, the Releasing Shipper may not

specify conditions which are in conflict with the

Service Agreement, the applicable Rate Schedule, or

these General Terms and Conditions.

Panhandle shall support volumetric releases with

volumetric commitments by fully accounting for

volumetric and reservation components, consistent with

the rules and regulations enunciated by the Commission.

(c) The Releasing Shipper may arrange for the assignment of

its Service Agreement to a Designated Replacement

Shipper prior to submitting its Release Notice to

Panhandle. Such Designated Replacement Shipper must be

on the approved bidders list and shall acknowledge the

Release Notice through the Messengerþ system as a

prerequisiteto the posting of the Release Notice.

However, the assignment will not become effective except

as provided in this Section 15.

15.3 Posting

(a) Shipper will post the information provided in each

Release Notice on the Messengerþ system. The posting will

include the MDCQ or MSQ available for assignment, the

Points of Receipt and Delivery and the released quantity

for each point, the term of the assignment, whether the

assignment is firm or recallable and the recall

conditions, if applicable, the Minimum Rate expressed in

dollars and cents or percent of Maximum Rate that the

Releasing Shipper will accept, and any other conditions

the Releasing Shipper specifies for the assignment in

accordance with Section 15.2(b).