Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 05/05/2003, Docket: RP03- 64-000, Status: Suspended

Second Revised Sheet No. 1200 Second Revised Sheet No. 1200 : Suspended

Superseding: First Revised Sheet No. 1200



Section 5




To (1) contract for or bid on transportation or storage services, (2)

engage in capacity release transactions, or (3) purchase gas pursuant to

Section 34 herein, all entities and their agents must satisfy the

requirements of this Section 5. Any entity desiring to seek pre-

approval of the credit requirements pursuant to this Section 5 shall

provide the information set forth in Section 5.1 below. Credit pre-

approvals are valid for a period of six (6) months, subject to the

requirements of this Section. An existing Customer or agent on an

annual basis for good cause, as a result of changed circumstances and/or

at the time such Customer requests a new or additional service shall

also provide the information set forth in Section 5.1 below. This

information will assist Gulf South in a determination as to whether a

Customer, agent, or new entity, henceforth referred to as Customer in

this Section 5, will be able to meet or continue to meet the credit

requirement established herein.


5.1 Gulf South shall have the right to request or review any or all of the

following types of information to perform its credit evaluation of



(a) The Customer's most current 10Ks, 10Qs, 8Ks, or any other

federal or state financial filings.


(b) Any ratings for the Customer, its parent or corporate

affiliates as established by a recognized credit-reporting

agency, i.e., Moody's, Standard & Poor's, or Fitch.


(c) Most recent audited financial statements and interim

financial statements prepared subsequent to the audit. If

audited financial statements are unavailable, Customer

shall provide the most recent unaudited financial

statements (balance sheet, income statement and statement

of cash flow) which have been prepared in compliance with

Generally Accepted Accounting Principles together with an

attestation by its Chief Financial Officer, or equivalent

official, that the information reflected in the unaudited

statements is a true, current and fair representation of

the Customer's financial condition.


(d) Two (2) financial institution references and at least two

(2) trade references.