GENERAL TERMS AND CONDITIONS

(continued)


 


 

(a) Shipper shall provide current financial statements

(balance sheet, income statement and statement of cash

or cash flow), annual reports, 10-K reports or other

filings with regulatory agencies which discuss Shipper's

financial status; a list of all corporate affiliates,

parent companies and subsidiaries; and any reports from

credit reporting and bond rating agencies which are

available. Pipeline shall determine the acceptability

of the Shipper's overall financial condition. If

audited financial statements are not available, then

Shipper's Chief Financial Officer should provide

attestation that the information shown in the unaudited

statement is true, correct and a fair representation of

the Shipper's financial condition.


 

(b) Shipper shall provide a bank reference and at least two

trade references. The results of reference checks and

any credit reports submitted in (a) above must show that

Shipper's obligations are being paid on a prompt basis.


 


 

(c) Shipper shall confirm in writing 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 11 of the Federal Bankruptcy Act but only with

adequate assurance that the service billing will be paid

promptly as a cost of administration under the federal

court's jurisdiction.