Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

Effective Date: 10/06/1994, Docket: RP94-393-000, Status: Effective

Original Sheet No. 321X Original Sheet No. 321X : Superseded

GENERAL TERMS AND CONDITIONS

(Continued)

(3) As used for purposes of this Section 18.15, the

terms Buyer/Shipper shall mean the entities

identified on Effective Tariff Sheet Nos. 25

through 25R. Buyers/Shippers are customers

that were served under Panhandle's sales Rate

Schedules G-1, G-2, G-3, SG-1, SG-2, SG-3, LS-1

LS-2, SS-1 and CS-1 under the Former Tariff,

customers with Transportation Agreements under

Rate Schedules PT-Firm and PT-Interruptible of

the Former Tariff, and customers served under

various rate schedules pursuant to Original

Volume No. 2 of Panhandle's Tariff.

(d) Recovery of Settlement Direct Bill Amounts

Panhandle shall recover from those Buyers and

Shippers identified on effective Tariff Sheet Nos.

25 through 25R Settlement Direct Bill Amounts in the

manner prescribed in Section 18.15(e). Such

reimbursement to Panhandle shall be divided equally

between the sales customers as a class and the

transportation customers as a class.

(e) Billing and Payment

The entire amount of each affected Buyer's and

Shipper's Settlement Direct Bill Amounts shall be

due and payable ten (10) days after Panhandle

submits an invoice to Buyer or Shipper for such

amount. Panhandle shall render such invoice on or

after the tenth day of the month following the

effectiveness of this Section 18.15. 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.