Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 05/25/1996, Docket: RP96-214-000, Status: Effective

First Revised Sheet No. 301 First Revised Sheet No. 301 : Superseded

Superseding: Original Sheet No. 301

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

 

or Shipper for such amounts. Panhandle shall

render bills hereunder on or after the tenth day

of each month. Buyer/Shipper shall pay Panhandle

by electronic funds transfer to a designated bank

account established by Panhandle for amounts

equal to or greater than $100,000. For amounts

less than $100,000 Buyer/Shipper shall pay

Panhandle by check to Panhandle's designated

office or at Buyer/Shipper's election by

electronic funds transfer to a designated bank

account established by Panhandle. Buyer/Shipper

shall pay Panhandle, at its designated office, on

or before the tenth day after such billing the

full amount so invoiced. Should Buyer/Shipper

fail to pay any amount which shall become due

hereunder interest thereon shall accrue at the

rate computed using the factors specified in

Section 154.501(d) of the Commission's

Regulations, until such time as the full amount

due has been paid or collected.

 

(2)Each Buyer or Shipper shall have the option, in

lieu of a lump sum payment of such amount, of

paying sixty (60) monthly consecutive payments

equal to 1/60th of such amount. Carrying charges

on such amounts shall commence on the effective

date of Section 32 of Transporter's Former Tariff

and shall be calculated and included on each

monthly invoice for those Buyers and Shippers

electing the sixty (60) month payment option.

The amount of Buyer's or Shipper's Settlement

Direct Bill Surcharge Amount which Buyer or

Shipper may elect to pay in lieu of paying a

lump-sum payment, as provided for herein shall be

stated on effective Tariff Sheet No. 23 hereof as

the same may be changed from time to time. Any

Buyer or Shipper may, at any time, pay all or a

portion of its unpaid share of the Settlement

Direct Bill Surcharge Amount for which it is

responsible pursuant to this Section 18.5, and in

such event its obligation for carrying charges

shall be applicable only to amounts unpaid.