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
Original Sheet No. 61A Original Sheet No. 61A : Superseded
GENERAL TERMS AND CONDITIONS
(c) Extension and Withdrawal of Release Proposal.
The Releasing Shipper shall not be able to specify an extension of the
original Bid Period or Prearranged Transaction Match Period without first
posting a new release. A Releasing Shipper, including a Releasing Shipper
with a Prearranged Transaction that is subject to competitive bidding, may
withdraw its Release Proposal, at any time prior to the close of the bid
period if such withdrawal is due to unanticipated circumstances and no
minimum bid has been made. Release Proposals are binding until written
notice or notice via U-TOS' Electronic Delivery Mechanism is received by
U-TOS. Once the Release Proposal is withdrawn, the Release Proposal shall
remain posted on U-TOS' Electronic Delivery Mechanism for a period of
thirty (30) days for monitoring and control purposes.