Texas Eastern Transmission Corporation

Sixth Revised Volume No. 1

Effective Date: 05/01/2001, Docket: RP01-291-000, Status: Effective

Fifth Revised Sheet No. 464 Fifth Revised Sheet No. 464 : Effective

Superseding: Sub Fourth Revised Sheet No. 464

GENERAL TERMS AND CONDITIONS

(Continued)

transaction is valid and the acquiring shipper has been determined to be

credit worthy before the capacity release bid is tendered and (ii) there

are no special terms or conditions of the release. These Bid Periods are

as follows:

(1) Standard releases of less than five (5) months

For proposed capacity releases of a duration of less than five (5) months

for which Customer's Notice was tendered by 1:00 pm CT on any day, the Bid

Period shall end at 2:00 pm CT on the same day or at 2:00 pm CT on any

subsequent day as specified in Customer's Notice, whichever is elected by

Customer. The evaluation period begins at 2:00 pm CT on the day the Bid

Period ends, during which contingency is eliminated, determination of best

bid is made and ties are broken. Evaluation period ends and match or

award is communicated by 3:15 pm CT the same day. If the Prearranged

Customer's bid is not the "best bid", Pipeline shall allow such

Prearranged Customer a Matching Period of forty-five (45) minutes from

3:15 pm CT to 4:00 pm CT on the day the Bid Period ends, or such later

time as permitted by Customer's Notice, to determine whether to match the

"best bid" and to notify Pipeline of its decision. Pipeline will post

award and finalize all contractual arrangements by 5:00 pm CT on the day

the Matching Period ends, or if no Matching Period, on the day the Bid

Period ends or such later time as permitted by Customer's Notice.

Nominations for gas flow for the next gas day may be submitted upon the

finalization of all contractual arrangements, and such nominations will be

processed in accordance with the nomination and scheduling requirements of

Section 4 of the General Terms and Conditions; however, in no circumstance

will gas flow prior to the effective date of the release as specified in

Customer's Notice.

(2) Standard releases of five (5) months or more

For proposed capacity releases of a duration of five (5) months or more

for which Customer's Notice was tendered by 1:00 pm CT on any business

day, the Bid Period shall end at 2:00 pm CT on the third business day

following such posting or at 2:00 pm CT on any subsequent business day as

specified in Customer's Notice, whichever is elected by Customer. The

evaluation period begins at 2:00 pm CT on the day the Bid Period ends,

during which contingency is eliminated, determination of best bid is made

and ties are broken. Evaluation period ends and match or award is

communicated by 3:15 pm CT the same day. If the Prearranged Customer's

bid is not the "best bid", Pipeline shall allow such Prearranged Customer