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TWP Pipeline LLC
FERC GAS TARIFF
SECOND REVISED VOLUME NO. 1

SECTION 7.23
RIGHT OF FIRST REFUSAL
VERSION 3.0.0

GENERAL TERMS AND CONDITIONS


        7.23.5. Upon conclusion of the ROFR Bidding Period, Transporter shall 
                evaluate the bids in accordance with the procedures set forth 
                in Section 7.22 for the evaluation of bids under Transporter's 
                capacity release mechanism, provided that any bid rate higher 
                than the maximum applicable Recourse Rate shall be deemed to 
                be equal to the maximum applicable Recourse Rate.  Transporter 
                shall not be required to accept any bid at less than 
                Transporter's maximum applicable Recourse Rate.    
    
        7.23.6. If Transporter receives no bids, or if Transporter receives 
                no bids at its maximum applicable Recourse Rate and Transporter 
                determines not to accept any bids below the maximum applicable 
                Recourse Rate, Transporter shall notify Shipper of the bid 
                having the highest value to Transporter ("Highest Bid"), or 
                that no bids were received.  If Transporter receives a bid at 
                its maximum applicable Recourse Rate, or if it accepts any bid 
                below the maximum applicable Recourse Rate, Transporter shall, 
                within five (5) days of the close of the ROFR Bidding Period, 
                inform Shipper of the offer to purchase capacity solicited 
                pursuant to this section that Transporter intends to accept.  
                Shipper shall have twenty-five (25) days after receiving notice 
                to notify Transporter as to whether it will match the Highest 
                Bid in terms of price, quantity and duration.  If the Shipper 
                elects to match the Highest Bid, it must execute a new 
                transportation agreement that contains the terms of the 
                Highest Bid; provided, however, that Shipper shall not be 
                required to pay any rate higher than the maximum applicable 
                Recourse Rate.  If the Shipper fails to match the offer presented 
                by Transporter, Transporter shall enter into an FT Agreement 
                with the Person submitting the competing offer.
    
        7.23.7. If Transporter receives no bids at the maximum applicable Recourse 
                Rate and Transporter refuses to accept a lower bid, Transporter 
                may abandon service to Shipper, unless Shipper agrees to pay the 
                maximum applicable Recourse Rate for a period of one (1) year, 
                or if Transporter and Shipper negotiate the terms and conditions 
                of an FT Agreement extension.

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