Pacific Interstate Offshore Company

Second Revised Volume No. 1

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Effective Date: 01/01/1994, Docket: RS92- 73-001, Status: Effective

Original Sheet No. 21 Original Sheet No. 21 : Effective








6.3 (1) (cont'd)


(ii) Shipper shall provide a bank reference and

at least two trade references. The

results of reference checks and any credit

reports submitted in 6.3, (1), (i) must

show that Shipper's obligations are being

paid on a reasonably prompt basis.


(iii) Shipper shall confirm that Shipper is not

operating under any chapter of the

bankruptcy laws and is not subject to

liquidation or debt reduction procedures

under state laws, such as an assignment

for the benefit of creditors, or any

informal creditors' committee agreement.

An exception can be made for a Shipper who

is a debtor-in-possession operating under

Chapter XI of the Federal Bankruptcy Act

but only with adequate assurance that the

transportation billing will be paid

promptly as a cost of administration under

the federal court's jurisdiction.


(iv) Shipper shall confirm in writing that

Shipper is not subject to any pending

liquidation or regulatory proceedings in

state or federal courts which could cause

a substantial deterioration in its

financial condition, which could cause a

condition of insolvency, or the inability

to exist as an on-going business entity.