Common use of Confidentiality of Credit Information Clause in Contracts

Confidentiality of Credit Information. Clause 22 of Part A2 of this Agreement applies to any information provided by the Customer under clauses 9, 10 and 11 and, in addition, Transpower is not to disclose such information except to such of its employees, directors, officers and professional advisers who need to know for the purposes of assessing, or receiving advice on, any matter in relation to appendix 1 of this Schedule (Credit Policy) (including all Transpower internal decision making requirements). For the avoidance of doubt, clause 22.4 of Part A2 of this Agreement applies to disclosures by Transpower of such information in accordance with this clause 12. 1. Credit Rating Calculation Key Ratios Descriptions 1. Pre-Tax Interest Coverage Pre-tax income from continuing operations + interest expense Gross interest Pre-tax income from continuing operations = earnings before interest & tax + net interest Interest expense = interest incurred minus capitalised interest, plus amortisation of capitalised interest Gross interest = gross interest incurred before subtracting (1) capitalised interest, (2) interest income

Confidentiality of Credit Information. Clause 22 of Part A2 of this Agreement applies to any information provided by the Customer under clauses 9, 10 and 11 and, in addition, Transpower is not to disclose such information except to such of its employees, directors, officers and professional advisers who need to know for the purposes of assessing, or receiving advice on, any matter in relation to appendix 1 of this Schedule (Credit Policy) (including all Transpower internal decision making requirements). For the avoidance of doubt, clause 22.4 of Part A2 of this Agreement applies to disclosures by Transpower of such information in accordance with this clause 12. 1. Credit Rating Calculation Key Ratios Descriptions 1. Pre-Tax Interest Coverage Pre-tax income from continuing operations + interest expense Gross interest Pre-tax income from continuing operations = earnings before interest & tax + net interest Interest expense = interest incurred minus capitalised interest, plus amortisation of capitalised interest Gross interest = gross interest incurred before subtracting (1) capitalised interest, (2) interest income 2. Total Debt to Total Capital Total debt Total capital Total debt = long term debt plus current maturities, commercial paper, and other short term borrowings Total capital = debt + equity