Midcoast Interstate Transmission, Inc.

Second Revised Volume No. 1

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Effective Date: 10/01/1997, Docket: GT97- 71-000, Status: Effective

Second Revised Sheet No. 22 Second Revised Sheet No. 22 : Effective

Superseding: FIRST REVISED SHEET NO. 22

RATE SCHEDULE FT (continued)

 

(g) Credit Evaluation:

 

(i) a copy of Shipper's most recent twelve month

financial statement (audited if available) and,

if applicable, 10-K form;

 

(ii) a list of Shipper's affiliates, including parent

and subsidiaries, if applicable.

 

3.2 In the event Shippers cannot provide the information in

Section 3.1(g) (i) and/or (ii) above, Shipper shall, if

applicable, provide that information for its parent

company. Transporter shall not be required to perform or

to continue service under this Rate Schedule on behalf of

any Shipper who is or has become insolvent or who, at

Transporter's request, fails within a reasonable period to

demonstrate creditworthiness, provided, however, such

Shipper may receive firm service under this Rate Schedule

if such Shipper prepays for such service or furnishes good

and sufficient security, as determined by Transporter in

its reasonable discretion, in an amount equal to the cost

of performing the service requested by Shipper for a three

month period. Transporter shall be entitled to terminate

service to any Shipper that fails to demonstrate credit-

worthiness or has become insolvent. For purposes herein,

the insolvency of a Shipper shall be evidenced by the

filing by Shipper or any parent entity thereof (hereinafter

collectively referred to as "The Shipper") of a voluntary

petition in bankruptcy or the entry of a decree or order by

a court having jurisdiction in the premises adjudging The

Shipper bankrupt or insolvent. Insolvency, for purposes

herein, shall also include approval by any such court of

a petition seeking reorganization, arrangement, adjustment

or composition of or in respect of The Shipper under the

Federal Bankruptcy Act or any other applicable federal or

state law, or appointing a receiver, liquidator, assignee,

trustee, sequestrator (or other similar official) of The

Shipper or of any substantial part of its property, or the

ordering of the winding-up or liquidation of its affairs