Common use of Assurance of Payment Clause in Contracts

Assurance of Payment. 10.1 Upon request by AT&T-22STATE, CLEC will provide AT&T-22STATE with the AT&T-22STATE Credit Profile form and provide information to AT&T-22STATE regarding CLEC’s credit and financial condition. 10.2 Assurance of payment may be requested by AT&T-22STATE: 10.2.1 If based on AT&T-22STATE’s analysis of the AT&T-22STATE Credit Profile and other relevant information regarding CLEC’s credit and financial condition, there is an impairment of the credit, financial health, or credit worthiness of CLEC. Such impairment will be determined from information available from Third Party financial sources; or 10.2.2 CLEC fails to timely pay a bill rendered to CLEC by AT&T-22STATE (except such portion of a bill that is subject to a good faith, bona fide dispute and as to which CLEC has complied with all requirements set forth in Section 12.4 below); and/or 10.2.3 CLEC’s gross monthly billing has increased, AT&T-22STATE reserves the right to request additional security (or to require a security deposit if none was previously requested); or 10.2.4 When CLEC admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had an involuntary case commenced against it) under the U.S. Bankruptcy Code or any other law relating to insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding.

Assurance of Payment. 10.1 Upon request by AT&T-22STATE, CLEC will provide AT&T-22STATE with the AT&T-22STATE Credit Profile form and provide information to AT&T-22STATE regarding CLEC’s credit and financial condition. 10.2 Assurance of payment may be requested by AT&T-22STATE: 10.2.1 If based on AT&T-22STATE’s analysis of the AT&T-22STATE Credit Profile and other relevant information regarding CLEC’s credit and financial condition, there is an impairment of the credit, financial health, or credit worthiness of CLEC. Such impairment will be determined from information available from Third Party financial sources; or 10.2.2 CLEC fails to timely pay a bill xxxx rendered to CLEC by AT&T-22STATE (except such portion of a bill xxxx that is subject to a good faith, bona fide dispute and as to which CLEC has complied with all requirements set forth in Section 12.4 below); and/or 10.2.3 CLEC’s gross monthly billing has increased, AT&T-22STATE reserves the right to request additional security (or to require a security deposit if none was previously requested); or 10.2.4 When CLEC admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had an involuntary case commenced against it) under the U.S. Bankruptcy Code or any other law relating to insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding.

Assurance of Payment. 10.1 Upon request by AT&T-22STATEAT&T-21STATE, CLEC will provide AT&T-22STATE AT&T-21STATE with the AT&T-22STATE AT&T-21STATE Credit Profile form and provide information to AT&T-22STATE AT&T-21STATE regarding CLEC’s credit and financial condition. 10.2 Assurance of payment may be requested by AT&T-22STATEAT&T-21STATE: 10.2.1 If based on AT&T-22STATEAT&T-21STATE’s analysis of the AT&T-22STATE AT&T-21STATE Credit Profile and other relevant information regarding CLEC’s credit and financial condition, there is an impairment of the credit, financial health, or credit worthiness of CLEC. Such impairment will be determined from information available from Third Party financial sources; or 10.2.2 CLEC fails to timely pay a bill rendered to CLEC by AT&T-22STATE AT&T-21STATE (except such portion of a bill that is subject to a good faith, bona fide dispute and as to which CLEC has complied with all requirements set forth in Section 12.4 below); and/or 10.2.3 CLEC’s gross monthly billing has increased, AT&T-22STATE AT&T-21STATE reserves the right to request additional security (or to require a security deposit if none was previously requested)) and/or file a Uniform Commercial Code (UCC-1) security interest in CLEC’s “accounts receivables and proceeds”; oror CN:07282014-2154 000028 10.2.4 When CLEC admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had an involuntary case commenced against it) under the U.S. Bankruptcy Code or any other law relating to insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding.

Assurance of Payment. 10.1 Upon request by AT&T-22STATE, CLEC will provide AT&T-22STATE with the AT&T-22STATE Credit Profile form and provide information to AT&T-22STATE regarding CLEC’s credit and financial condition. 10.2 Assurance of payment may be requested by AT&T-22STATE: 10.2.1 If based on AT&T-22STATE’s analysis of the AT&T-22STATE Credit Profile and other relevant information regarding CLEC’s credit and financial condition, there is an impairment of the credit, financial health, or credit worthiness of CLEC. Such impairment will be determined from information available from Third Party financial sources; or 10.2.2 If CLEC fails to timely pay a bill rendered to CLEC by AT&T-22STATE (except such portion of a bill that is subject to a good faith, bona fide dispute and as to which CLEC has complied with all requirements set forth in Section 12.4 below); and/or 10.2.3 If CLEC’s gross monthly billing has increasedincreased by fifteen percent (15%) or more, AT&T-22STATE reserves the right to request additional security (or to require a security deposit if none was previously requested)) and/or file a Uniform Commercial Code (UCC-1) security interest in CLEC’s “accounts receivables and proceeds”; or 10.2.4 When CLEC admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had an involuntary case commenced against it) under the U.S. Bankruptcy Code or any other law relating to insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding.