U-T Offshore System, L.L.C.
Third Revised Volume No. 1
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Effective Date: 06/01/1997, Docket: RP97-146-001, Status: Effective
First Revised Sheet No. 61 First Revised Sheet No. 61 : Superseded
Superseding: Substitute Original Sheet No. 61
GENERAL TERMS AND CONDITIONS
(i) Release Proposals for a term of less than five months must be posted
on U-TOS' Electronic Delivery Mechanism no later than 1:00 p.m.
Central Time on the business day prior to the nomination deadline
applicable to the effective date of the release and shall remain
posted for a minimum one hour Bidding Period that closes at 2:00
p.m. Central Time on a business day but not later than the business
day prior to the nomination deadline.
(ii) Release Proposals for a term of five months or more must be posted
no later than 1:00 p.m. Central Time four business days prior to the
nomination deadline applicable to the effective date of the release
and shall remain posted for a minimum three business day Bidding
Period that closes at 2:00 p.m. Central Time on a business day but
not later than the business day prior to the nomination deadline.
(iii) Within one hour (by 3 p.m. Central Time) after the close of the
Bidding Period specified in (i) and (ii), above, best bids shall be
determined, ties shall be broken, contingencies eliminated and U-TOS
shall notify any Prearranged Bidder of any competing bid that has a
value determined in accord with Section 17.7 which is higher than
the bid of the Prearranged Bidder. Following such notification, the
Prearranged Bidder shall have until 4 p.m. Central Time to match the
bid with higher value. U-TOS shall post the award of capacity by 5
p.m. Central Time, on its Electronic Delivery Mechanism. U-TOS
shall tender a contract (with a contract number) to the winning
bidder by 10:00 a.m. Central Time on the day of the nomination
deadline applicable to the effective date of the release.
Nominations by the winning bidder may be submitted for the next gas
flow day or at the time otherwise specified for intraday
nominations, in accordance with Section 7 herein.
(b) Releases Not Subject To Bidding.
Proposed capacity releases of a duration less than thirty (30) consecutive
days for which Releasing Shipper has obtained a Prearranged Shipper or for
proposed capacity releases of any duration for which Releasing Shipper has
obtained a Prearranged Shipper and the Prearranged Shipper is paying the
maximum rate and all other terms and conditions of the release are met,
Releasing Shipper shall notify U-TOS by providing the information pursuant
to subsection 17.4 of this Section 17, which information will be posted on
U-TOS' Electronic Delivery Mechanism by 9 a.m. Central Time on the day
prior to the effective date of the release. U-TOS will finalize all
contractual arrangements by 10:00 a.m. Central Time on the day prior to
the effective date of the release. The Prearranged Shipper must initiate
confirmation of the Prearranged Transaction via U-TOS' Electronic Delivery
Mechanism. Nominations 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 7 of
the General Terms and Conditions, however, in no circumstance will gas
flow prior to the effective date of the release as specified in Releasing
Shipper's Notice. A Prearranged Shipper may not consummate a release with
any Releasing Shipper without such release being subject to the bidding
requirement if such Releasing Shipper has, within the prior thirty (30)
consecutive days, released capacity to such Prearranged Shipper, which
prior release was not subject to the bidding requirements for any reason
other than the fact that the Prearranged Shipper was paying maximum rates
for such prior release. All other provisions of this Section 17 shall
apply, including Releasing Shipper's obligations under subsection 17.12 of
this Section 17.