Carnegie Interstate Pipeline Company

Original Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-173-001, Status: Effective

First Revised Sheet No. 145 First Revised Sheet No. 145 : Effective

Superseding: Original Sheet No. 145

GENERAL TERMS AND CONDITIONS

(continued)

 

33. EXIT FEES

 

33.1 Any Customer that desires to reduce or terminate

any firm capacity entitlement it holds on CIPCO's

system under Rate Schedule FTS or FGS may do so only

upon payment to CIPCO of a negotiated exit fee.

 

33.2 For any exit fee payable under this Section 33,

CIPCO shall issue a bill for the amount of the exit

fee. The entire amount of the bill shall be payable

ten (10) days after receipt of the bill. Interest

shall accrue on all amounts not paid when such

amounts become payable, at the rate computed using

the factors specified in Section 157.67 of the FERC's

Regulations, until such time as the full amount due

had been paid.

 

Any Customer liable for the payment of an exit

fee under this Section 33 may elect to pay the exit

fee amortized over up to a one year period, by making

up to twelve (12) consecutive monthly payments, each

of which shall be equal to a corresponding fraction

of the amount of the exit fee. Interest shall accrue

on all unpaid amounts on each monthly invoice at the

rate computed using the factors specified in Section

157.67 of the FERC's Regulations.

 

Any Customer that elects to amortize the exit

fee must notify CIPCO within forty-eight (48) hours

of receipt of the bill that such customer desires to

amortize the exit fee and must specify the desired

amortization period. Such amortized amounts shall be

paid by wire transfer on the twentieth day of each

month. In the event of an election to amortize the

exit fee, any Customer may, at any time prior to the

end of the amortization period, pay the entire amount

of its unpaid share of the exit fee to CIPCO with no

further obligation to pay interest applicable after

such time.