Elba Express Company, L.L.C.
Original Volume No. 1
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Effective Date: 03/01/2010, Docket: RP10-342-000, Status: Effective
Original Sheet No. 20 Original Sheet No. 20
(b) If, pursuant to Section 7.1(a)(i), COMPANY notifies SHIPPER
that deliveries of parked quantities must be suspended or be
reduced, only those quantities parked in violation of the
notification shall become the property of COMPANY at no cost
to COMPANY, free and clear of any adverse claims.
(c) In the event the operational conditions on COMPANY's system
permit, COMPANY, at its option, may forego its rights under
Section 7.1(a)(iii) above provided that SHIPPER agrees to
implement a new PAL transaction at a new rate(s) for a period
specified by COMPANY. COMPANY's agreement to enter into a
new transaction for a new period as provided above shall not
forego COMPANY's rights under this section at the termination
date of the new PAL transaction.
(d) In the event that a PAL account for Park Service reflects a
negative balance at the termination date of the executed PAL
Agreement, those overdrawn quantities shall be sold to
SHIPPER at 150% of the highest weekly index price per Dth, as
provided in Section 7.2(a) below, during the term of the
transaction.
7.2 Loan Service:
(a) In the event any of the following occurs, loaned quantities
shall be sold to SHIPPER at 150% of the highest weekly index
price per dth established under Natural Gas Intelligence's
Average Weekly Price Index, Southern Natural - Louisiana,
during the term of the agreed upon transaction:
(i) COMPANY's prevailing operations require COMPANY to
notify SHIPPER that receipt of SHIPPER's loaned
quantities must be suspended or be reduced, and SHIPPER
continues to nominate loaned quantities; and/or
(ii) COMPANY's prevailing operations require COMPANY to
notify SHIPPER that all or part of SHIPPER's loaned
quantities must be returned to COMPANY, and SHIPPER
fails to comply within the specified time frame; and/or
(iii) the PAL account reflects a negative balance at the
termination date of the executed PAL Agreement and
COMPANY and SHIPPER have not otherwise agreed to extend
the termination date; and/or
(iv) SHIPPER does not comply with the terms of the loaned
transaction.