Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

Effective Date: 04/01/1997, Docket: RP97- 4-002, Status: Effective

First Revised Sheet No. 285 First Revised Sheet No. 285 : Superseded

Superseding: Original Sheet No. 285

GENERAL TERMS AND CONDITIONS

(Continued)

17. STATEMENTS AND PAYMENTS

17.1 Panhandle shall send to Shipper, on or before the 9th

Business Day after the end of the month, a billing of

charges for service rendered in the preceding Month. Such

charges may be based on estimated Quantities of Gas if

actual Quantities of Gas are unavailable in time to

prepare the billing. In that event, Panhandle shall

provide, in the succeeding Month's billing, an adjustment

based on any difference between actual Quantities of Gas

and estimated Quantities of Gas. If Shipper has

contracted for multiple services with Panhandle, then

Shipper may receive a master bill which shall contain

multiple charges for the multiple services and/or

contracts for which Shipper has contracted. Panhandle may

waive the applicability of any fixed Monthly charges

during periods prior to the completion of Panhandle's,

Shipper's or third party's facilities required to perform

the service involved.

17.2 (a) Payment

Shipper shall pay Panhandle by Electronic Funds

Transfer to a designated bank account established by

Panhandle for billed amounts equal to or greater than

$100,000. For billed amounts less than $100,000

Shipper shall pay Panhandle by check to Panhandle's

designated Post Office Box or at Shipper's election

by Electronic Funds Transfer to a designated bank

account established by Panhandle. Payments shall be

made by Shipper to Panhandle within 10 Days from the

date on which the bill is sent (Due Date) for all

charges billed in accordance with the provisions of

the applicable Rate Schedules. Payments made by

Electronic Funds Transfer shall be considered to have

been made on the date when such payment of good funds

is received by Panhandle.