Mississippi River Transmission Corp.

Third Revised Volume No. 1

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Effective Date: 11/01/1993, Docket: RS92- 43-004, Status: Effective

Original Sheet No. 179 Original Sheet No. 179 : Superseded

GENERAL TERMS AND CONDITIONS

(Continued)

15. TERMINATION OF SERVICE/RIGHT OF FIRST REFUSAL (Continued)

(c) After the firm capacity holder notifies MRT as

provided for in Section 15.3(a) herein, if the firm capacity

holder does not agree to the provisions of Section 15.3(b), then

MRT shall post notice of the potential availability of the firm

capacity on its EBB. Such EBB notice shall describe the quantity

and path of the firm capacity, and the duration of the posting

period, which period shall not be less than thirty (30) calendar

days, during which time MRT will accept bids for the capacity. In

addition, the EBB notice shall indicate whether MRT is willing to

receive bids for the available capacity at a level below MRT's

maximum applicable firm transportation rate but greater than a

certain rate floor, and any minimum term or volume conditions.

15.4 Bidders for part or all of the capacity available shall

transmit their bids to MRT in writing. MRT will consider only bona fide

bids for the firm capacity. A bid will be considered bona fide if, in

addition to a price and term, which term may not exceed ten (10) years,

the bid also includes:

(a) a statement that, if its bid is ultimately accepted,

the bidder will agree to meet the terms and conditions of this

tariff, including the credit criteria contained herein; and

(b) a prepayment of the lesser of $10,000 or the total of

two (2) months reservation charges for the amount of capacity bid

upon, which shall be credited to the bona fide bidder's service if

it contracts for the capacity, or which will be refunded with

interest calculated in accordance with the Commission's

regulations if the bona fide bidder is not awarded the capacity.

15.5 MRT may, at its sole election, actively market the firm

capacity.

15.6 MRT shall evaluate all bona fide bids submitted for all or

part of the available firm capacity applying the same economic standard

as MRT utilizes to evaluate bids under the Capacity Release Program to

determine the best bid. MRT will not be obligated to provide firm

service or accept any bid at less than its maximum tariff rate.