Common use of Condition Precedent Clause in Contracts

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges to ARTC, then clauses 3 to 11 do not take effect until this condition precedent is satisfied. (b) The condition precedent is for the benefit of ARTC and may only be waived by ARTC. (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder has not delivered a Parent Guarantee or Security for an amount of at least three months’ months TOP Charges to ARTC, then clauses 3 to 11 do not take effect until this the above condition precedent is satisfied. (b) The condition precedent is for the benefit of ARTC and may only be waived by ARTC. (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges to ARTC, then clauses 3 to 11 do not take effect until this condition precedent is satisfied. (b) The condition precedent is for the benefit of ARTC and may only be waived by ARTC.. Formatted: Bullets and Numbering (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.. 10285514_1 Access Holder Agreement 3

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges to ARTC, then clauses 3 to 11 do not take effect until this the abovethis condition precedent is satisfied. (b) The condition precedent is for the benefit of ARTC and may only be waived by ARTC. (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below does not meet the Acceptable Credit Rating and Prudential Requirements under the Access Holder Undertaking and it has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges (including any GST payable on such amount) to ARTC, then clauses 3 to 11 do not take effect until this condition precedent is satisfied. (b) The condition precedent in paragraph (a) is for the benefit of ARTC and may only be waived by ARTC. (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.

Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder does not meet the Prudential Requirements under the Access Undertaking and it has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges (including any GST payable on such amount) to ARTC, then clauses 3 to 11 do not take effect until this condition precedent is satisfied. (b) The condition precedent in paragraph (a) is for the benefit of ARTC and may only be waived by ARTC. (c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.