Clear Creek Storage Company, LLC |
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Original Sheet No. 48 : Effective |
FERC Gas Tariff |
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Clear Creek Storage Company, LLC |
GENERAL TERMS AND CONDITIONS
(Continued)
6.6 If no bids are received and the existing Customer
is willing to pay the maximum rate, the existing Customer
will be entitled to continue to receive service for whatever
term it chooses. However, due to the operational
constraints of the Clear Creek storage facility, that term
may not be less than one year. At the end of the term, the
existing Customer will again have the right of first refusal
to retain the capacity. Any Customer that acquires
available capacity according to this section will not be
required to repeat the bidding procedures outlined in
Section 4.6 of this tariff.
7. Creditworthiness
7.1 Clear Creek shall not be required to perform
Storage Service for a Customer who is, or has become,
insolvent; or who, at Clear Creeks request, fails within a
reasonable period to demonstrate creditworthiness. Clear
Creek shall apply consistent, non-discriminatory evaluation
practices to determine the acceptability of the Customers
overall financial condition, working capital and
profitability trends.
7.2 Customers creditworthiness may be shown by the
following criteria:
(1) Customer shall provide (i) current audited
financial statements, annual reports, 10-K reports or other
filings with regulatory agencies; (ii) a list of all
corporate affiliates, parent companies and subsidiaries; and
(iii) any available reports from credit reporting agencies.
(2) Customer must provide a bank reference and at
least two trade references. The results of reference checks
and any credit reports must show that Customers obligations
are being paid on a prompt basis.
(3) Customer must confirm in writing that it is
not operating under any chapter of bankruptcy laws and must
not be subject to liquidation or debt reduction procedures,
such as an assignment for the benefit of creditors, or any
informal creditors committee assignment. An exception may
be made for a Customer who is a debtor in possession
operating under Chapter XI of the Federal Bankruptcy Act,
but only with adequate assurances that billings will be paid
promptly as a cost of administration under the federal
courts jurisdiction.
Issued by: M.B. McGinley, Vice President |
Issue date: 03/30/00 |
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Effective date: 06/01/00 |