RATE SCHEDULE PAL-1
PARKING AND LENDING SERVICE
(Continued)
4. OPERATIONAL REQUIREMENTS OF NBP
4.1 (Continued)
(a) In the event that the specified time for removal or return
of Gas quantities is the next Day, the timeframe for
required removal or return shall begin from the time that
Shipper receives notice from NBP. Notices provided after
business hours for the next Day will be provided to Shipper
via Electronic Communication. In the event that Shipper
makes a timely and valid nomination in response to
notification by NBP to remove parked quantities and/or
return loaned quantities, Shipper shall be deemed to have
complied with NBP's notification; and
(b) Unless otherwise agreed by Shipper and NBP: (i) any parked
quantity not nominated for removal within a timeframe
specified by NBP's notice shall become the property of NBP
at no cost to NBP free and clear of any adverse claims; (ii)
any loaned quantity not returned within the timeframe
specified by NBP's notice shall be sold to Shipper at one
hundred and fifty percent (150%) of the average weekly price
of gas as calculated in Paragraph 4.3 below.
4.2 In the event parked quantities remain in NBP's Pipeline System
and/or loaned quantities have not been returned to NBP's Pipeline
System at the expiration of any Agreement executed by Shipper and
NBP, NBP and Shipper may mutually agree to an extended timeframe
and/or modified terms, including the rate, of such Agreement. In
the event that Shipper and NBP are unable to come to such
Agreement, NBP shall notify Shipper, and Shipper shall nominate
for removal of the parked quantities and/or return of the loaned
quantities within the timeframe specified in NBP's notice, which
in no instance shall be less than one (1) Day. Any parked
quantity not nominated for removal within the timeframe specified
by NBP's notice shall become the property of NBP at no cost to
NBP, free and clear of any adverse claims. Any loaned quantities
not nominated to be returned within the time frame specified by
NBP's notice shall be sold to Shipper at one hundred and fifty
percent (150%) of the average weekly price of gas as calculated in
Paragraph 4.3 below.
(Continued)
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Issued by: John A Roscher, Director of Rates & Regulatory Affairs
Issued on: June 6, 2002 Effective on: August 12, 2002
Filed to comply with order of the Federal Energy Regulatory Commission, Docket
No. CP01-22-000, et al., issued May 18, 2001, 95 FERC ¶ 61,259 |