Petal Gas Storage Company
Original Volume No. 1
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Effective Date: 12/18/1993, Docket: CP93- 69-002, Status: Effective
Original Sheet No. 106 Original Sheet No. 106 : Effective
GENERAL TERMS AND CONDITIONS
(ii) Maximum Daily Withdrawal Quantity
(MDWQ) (stated in MMBtu/day) and at which Point(s) of
(iii) Maximum Daily Injection Quantity (MDIQ)
(stated in MMBtu/day) and at which Point(s) of Receipt.
(e) Term of service, including the date service is
requested to commence and the date service is requested to
(f) Evidence of creditworthiness. Acceptance of a
storage service request is contingent upon a satisfactory
credit appraisal by Petal. Such credit appraisal must meet
the following criteria:
(i) Customer shall provide (a) current
financial statements, annual reports, 10-K reports or other
filings with regulatory agencies, (b) a list of all corporate
affiliates, parent companies and subsidiaries, and (c) any
reports from credit reporting agencies which are available.
Petal shall apply consistent evaluation practices to determine
the acceptability of the Customer's overall financial
condition, working capital, and profitability trends.
(ii) A bank reference and at least two trade
references must be provided by Customer. The results of
reference checks and any credit reports must show that
Customer's obligations are being paid on a prompt basis.
(iii) Customer must not be operating under
any chapter of the bankruptcy laws and must not be subject to
liquidation or debt reduction procedures under the state laws,
such as an assignment for the benefit of creditors, or any
informal creditors' committee agreement. An exception can be
made for a Customer who is a debtor in possession operating
under Chapter XI of the Federal Bankruptcy Act but only with
adequate assurances that billings will be paid promptly as
cost of administration under the federal court's jurisdiction.
(iv) Customer must not be subject to the
uncertainty of pending liquidation or regulatory proceedings
in state or federal courts which could cause a substantial
deterioration in its financial condition, which could cause a