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

First Revised Sheet No. 1202 First Revised Sheet No. 1202 : Suspended

Superseding: Original Sheet No. 1202


Section 5




2) approving a petition seeking reorganization,

arrangement, adjustment or composition of or in

respect of the Customer under the Federal

Bankruptcy Act or any other applicable federal

or state law;


3) appointing a receiver, liquidator, assignee,

trustee sequestrator (or other similar

official) of the Customer or of any substantial

part of its property;


4) ordering of the winding-up or liquidation of

its affairs.


Gulf South will consider whether a Customer is a

debtor in possession operating under Chapter 11 of

the Federal Bankruptcy Act but only where adequate

assurances can be given that the Customer's

obligations will be accepted in the bankruptcy

proceeding and Gulf South will be paid promptly as an

administrative cost under the federal Bankruptcy

court's jurisdiction.


(ii) Customer's ongoing business relationship with Gulf

South, if any, consideration being given to

delinquent balances being consistently outstanding

for services rendered or for gas imbalances due Gulf

South, and payment of its prior invoices from Gulf

South according to Section 18 of Gulf South's tariff.


(iii) Whether Customer is subject to the uncertainty of

pending liquidation or regulatory proceedings in

state or federal courts or agencies which could cause

a substantial deterioration in its financial

condition, a condition of insolvency, or the ability

to exist as an on-going entity.