Cove Point LNG Limited Partnership

Second Revised Volume No. 1

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Effective Date: 12/20/2002, Docket: RP03- 65-001, Status: Effective

Second Revised Sheet No. 128 Second Revised Sheet No. 128 : Effective

Superseding: First Revised Sheet No. 128

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

 

10. RELEASE AND ASSIGNMENT OF SERVICE RIGHTS (Continued)

 

(b) (3) Timing and Duration of Posting. The Capacity Release Timeline is applicable to

all parties involved in the Capacity Release process; however, it is only

applicable if (1) all information provided by the parties to the transaction is

valid, (2) there are no special terms or conditions of the release, and (3) for

purposes of determining the Best Bid, the methodology specified by the Releasor

is either highest rate, net revenue, or present value.

 

(i) For biddable releases (less than 1 year):

- offers should be tendered by 12:00 P.M. on a Business Day;

- open season ends no later than 1:00 P.M. on a Business Day (evaluation

period begins at 1:00 P.M. during which contingency is eliminated,

determination of best bid is made, and ties are broken);

- evaluation period ends and award posting if no match required at 2:00

P.M.;

- match or award is communicated by 2:00 P.M.;

- match response by 2:30 P.M.;

- where match required, award posting by 3:00 P.M.;

- contract issued within one hour of award posting (with a new contract

number, when applicable); nomination possible beginning at the next

available nomination cycle for the effective date of the contract.

(Central Clock Time)

(ii) For biddable releases (1 year or more):

- offers should be tendered by 12:00 P.M. four Business Days before

award;

- open season ends no later than 1:00 P.M. on the Business Day before

timely nominations are due (open season is three Business Days);

- evaluation period begins at 1:00 P.M. during which contingency is

eliminated, determination of best bid is made, and ties are broken;

- evaluation period ends and award posting if no match required at 2:00

P.M.;

- match or award is communicated by 2:00 P.M.;

- match response by 2:30 P.M.;

- where match required, award posting by 3:00 P.M.;

- contract issued within one hour of award posting (with a new contract

number, when applicable); nomination possible beginning at the next

available nomination cycle for the effective date of the contract.

(Central Clock Time)