Cheyenne Plains Gas Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 07/26/2010, Docket: RP10-876-000, Status: Effective

First Revised Sheet No. 231 First Revised Sheet No. 231

Superseding: Original Sheet No. 231





4.9 Right-of-First-Refusal ("ROFR") (Continued)


(k) When an agreement is subject to a regulatory right of first

refusal, contains a contractual right of first refusal, a

rollover clause, or an evergreen clause, extension rights

apply to each expiring increment of capacity (i.e., on a step-

down basis) during the term of the agreement.


(l) Right of Initial Shippers to Contractual ROFR. For purposes

of this section, any Shipper whose TSA was included in the

Docket No. CP03-302-000 certificate proceeding and the CP04-

345-000 expansion proceeding is an Initial Shipper.


(i) Notwithstanding Section 4.9(a)(iii) of the General Terms

and Conditions, Initial Shippers shall have a Right-of-

First-Refusal pursuant to this Section 4.9 of the

General Terms and Conditions exercisable at the end of

the term of the Initial Shippers' TSAs.


4.10 Creditworthiness

(a) Creditworthiness Requirement. A Shipper wishing to obtain

service must first comply with the creditworthiness

requirements of this Tariff.


(b) Criteria for Creditworthiness Determination

(i) Acceptance of a Shipper's request for service and the

continuation of service are contingent upon the

Shipper satisfying, on an on-going basis, a credit

appraisal by Transporter.

(ii) Transporter shall apply consistent evaluation

practices to all similarly situated Shippers to

determine the Shipper's financial ability to satisfy

the payment obligations due to Transporter over the

term of the requested service agreement.

(iii) A Shipper will be deemed creditworthy if: (i) it's

senior unsecured debt securities are rated at least

BBB- by Standard & Poor's Corporation ("S&P") or Baa3

by Moody's Investor Service ("Moody's"), (ii)

Shipper's short term and long term outlook opinion is

Stable or Positive from S&P or Moody's, and (iii) the

sum of 12 Months of anticipated charges under a firm

or interruptible TSA is less than 10% of Shipper's

tangible net worth. In the event Shipper is rated by

multiple agencies, the lowest rating shall be used.

If the Shipper has multiple TSAs with Transporter,

then the total of all such TSAs shall be considered in

determining creditworthiness.