Release timeline is applicable to

all parties involved in the Capacity Release process; however, it is only

applicable if (i) all information provided by the parties to the transaction

is valid and the Replacement Shipper has been determined to be creditworthy

before the capacity release bid is tendered and (ii) there are no special

terms or conditions of the release.


 

The Capacity Release timeline is as follows:

(a) For standard releases of less than one (1) year:

- Offers shall be tendered by 12:00 p.m. CCT on a Business Day;

- The bid period shall end at 1:00 p.m. CCT on the same Business Day or at

1:00 p.m. CCT on any subsequent Business Day as specified in Releasing

Shipper’s offer, whichever is elected by Releasing

Shipper;


 

- Evaluation period begins at 1:00 p.m. CCT on the Day the bid period

ends, during which contingency is eliminated, determination of best bid is

made, and ties are broken;


 

- Evaluation period ends and award is posted if no match is required at 2:00

p.m. CCT the same Day;


 

- If the Prearranged Shipper’s bid is not the "best bid," Freebird shall

allow such Prearranged Shipper a matching period of thirty (30) minutes from

2:00 P.M. CCT until 2:30 P.M. CCT on the Day the bid period ends, or such

later time as specified in the Releasing Shipper’s offer, to determine whether

to match the "best bid" and to notify Freebird of its

decision.


 

- If a match is required, the award will be posted by 3:00 p.m. CCT.

Freebird will issue a contract within one hour of the award posting (with a

new contract number, when applicable). Nominations for Gas flow are possible

beginning at the next available nomination cycle for the effective date of the

contract. Such nominations will be processed in accordance with the

nomination and scheduling requirements of Section 8 of the General Terms and

Conditions; however, in no circumstance will Gas flow prior to the effective

date of the release as specified in Releasing Shipper’s

offer.


 

(b) For standard releases of one (1) year or longer:

- Offers shall be tendered by 12:00 p.m. CCT four Business Days before the

award;


 

- The bid period shall end at 1:00 p.m. CCT on the Day before timely

nominations are due (open season is three Business Days) or at 1:00 p.m. CCT

on any subsequent Business Day as specified in Releasing Shipper’s offer,

whichever is elected by Releasing Shipper;


 

- Evaluation period begins at 1:00 p.m. CCT on the Day the bid period ends,

during which contingency is eliminated, determination of best bid is made, and

ties are broken;