Credit and Security. Clause 5(a), sentence 2 is replaced by the following: Megaport may transfer information on outstanding claims to credit reporting agencies according to §28a Federal Data Protection Act (Bundesdatenschutzgesetz, BDSG).
Credit and Security a) From time to time during the term of this Agreement, Customer authorises Megaport to assess Customer’s creditworthiness and to communicate with credit reporting agencies about Customer’s credit status. Megaport may give these agencies information that Customer has provided to Megaport.
b) Megaport may also set a credit limit or restrict Customer’s use of the Services to limit Megaport’s financial exposure. If Customer exceeds its credit limit, Megaport may restrict Customer’s ability to order new Services and/ or require payment from Customer.
Credit and Security. 9.1. From time to time during the Term of this Agreement, Customer authorizes Pilot to assess Customer’s creditworthiness and to communicate with credit reporting agencies and/or business partners about Customer’s credit status. Pilot may give these agencies information that Customer has provided to Pilot.
9.2. Pilot may also set a credit limit or restrict Customer’s use of the Services to limit Pilot’s financial exposure. If Customer exceeds its credit limit, Pilot may restrict Customer’s ability to order new Services and/ or require payment of a deposit from Customer.
9.3. Pilot may terminate Service(s) on thirty (30) days’ notice to Customer without liability if Pilot reasonably determines that Customer poses an unacceptable credit risk.
9.4. Pilot may require Customer to pay an additional deposit before acceptance of a Service Order if Pilot determines that Customer poses a credit risk.
Credit and Security. 5.1.1 No security is required if the total notional dollar value of this Agreement is less than $500,000, or if Buyer determines that REC Supplier or REC Supplier’s guarantor has a credit rating or creditworthiness sufficient to provide the credit required to support this Agreement. If REC Supplier or REC Supplier’s Guarantor is not rated by a nationally recognized credit rating organization, Buyer will perform a creditworthiness assessment to determine if the REC Supplier or REC Supplier’s Guarantor will be required to post credit security.
5.1.2 If the total notional dollar value of this Agreement is in excess of $500,000 and the REC Supplier is relying on REC Supplier’s Guarantor to meet the Minimum Credit Rating requirements, the REC Supplier must provide the Buyer a form of Guaranty in an amount of 5% of the total notional dollar value of the Agreement from the REC Supplier’s Guarantor. The Guaranty must be in the form of Appendix C, or another substantially similar form approved by Buyer.
5.1.3 If Buyer has determined that REC Supplier or REC Supplier’s Guarantor does not meet the Minimum Credit Rating requirements and does not have a creditworthiness sufficient to provide the credit required to support the credit required for this Agreement, then REC Supplier shall post and maintain REC Supplier Security in an amount of 5% of the total notional dollar value of the Agreement. REC Supplier shall post such security in the form of a Letter of Credit in a form acceptable to the Buyer or in cash. The Letter of Credit must be
5.1.4 If Buyer relies upon REC Supplier’s credit rating to allow REC Supplier to avoid posting security, REC Supplier shall notify Buyer of any and all credit downgrades. If REC Supplier’s credit rating subsequently fails to satisfy the Minimum Credit Rating requirements, Buyer shall have the right to require performance assurances or to require posting of credit. REC Supplier shall have the obligation, in such case, to meet Buyer’s performance assurances or alternatively post and maintain REC Supplier Security in an amount of 5% of the total notional dollar value of this Agreement.
5.1.5 Within 3 Business Days after a draw by Buyer on REC Supplier Security, REC Supplier shall cause the REC Supplier Security to be reinstated to the applicable amount, provided, that the obligation to reinstate (a) the REC Supplier Security shall terminate on the date that the security is provided, and (b) Buyer shall terminate any Letter of Credit or r...
Credit and Security. (a) From time to time during the term of this Agreement, Customer authorises Megaport to assess Customer’s creditworthiness and to communicate with credit reporting agencies about Customer’s credit status. Megaport may give these agencies information that Customer has provided to Megaport.
(b) Megaport may require Customer to lodge some form of security as a condition of providing Services to Customer, which Megaport may use to recover amounts Customer owes Megaport or to compensate Megaport for any Loss Megaport suffers as a result of Customer’s breach of this Agreement. Megaport may also set a credit limit or restrict Customer’s use of the Services to limit Megaport’s financial exposure. If Customer exceeds its credit limit, Megaport may restrict Customer’s ability to order new Services and/or require payment from Customer.
Credit and Security. Shipments and delivery shall at times be subject to the approval by Seller of the Buyer’s credit and the Seller reserves the right, even after partial shipment or partial payment on account, to require from the Buyer satisfactory security for the due performance of the Buyer’s continuing obligations. Upon request of the Seller, the Buyer shall provide such security to the Seller as may be requested.
Credit and Security. Pilot, in its sole discretion, will determine Customer’s eligibility to lease Hardware from Pilot. Customer authorizes Pilot to assess Customer’s creditworthiness and to communicate with credit reporting agencies and/or business partners about Customer’s credit status. Pilot may give these agencies information that Customer has provided to Pilot. Pilot may also set a credit limit or restrict Customer’s use of the Services to limit Pilot’s financial exposure. If Customer exceeds its credit limit, Pilot may restrict Customer’s ability to order new Services and/ or require payment of a deposit from Customer.
Credit and Security. Clause 5(a), sentence 2 is replaced by the following: Megaport may transfer information on outstanding claims in line with technical progress; or (ii) the interfacing of networks. In these circumstances, Megaport will provide at least six weeks’ prior notic and Customer may terminate the affected Service within six weeks of receipt of such notice, with effect on the effective date of the change. For the avoidance of doubt, Xxxxxx 14 remains unaffected. Clause 8(d) is replaced by the following: If Customer does not pay an invoice in full by the due date, Megaport may charge Customer a default f the unpaid amount on a daily basis from the due date until payment is made at the rate of nine per cent (9%) above the base rate of the European Central Bank. For the avoidance of doubt, any other rights that Megaport may have with respect to such default under this agreement or by law remain unaffected. Clause 8(f) is amended by the following: Megaport will provide Customer with at least notice of any increase to the charges as permitted above. Customer may terminate any affected Service within six weeks of receipt of such notice, with effect on the effective date of the increase.
Credit and Security. After our review of your financial condition and overall credit worthiness, we may, at our discretion, extend credit to you. If we extend credit to you, you may be required to promptly provide a bank guarantee, letter of credit, corporate guarantee cash deposit, or other form of security. These requirements will be, in amounts, form, and with entities acceptable to us. Upon written notice, we may revise or withdraw any credit extended to you at any time. If we withdraw or reduce any credit, you must immediately pay all sums due (or that become due in excess of the revised credit limit) or pay all sums due in advance or on delivery of your next order, at our option.
Credit and Security. No Party shall be required to post or provide performance assurance under this Service Agreement. If Customer or Renewable Supplier determines that it requires performance assurance for the transactions contemplated under this Service Agreement, such Party shall be solely responsible for negotiating a separate agreement for performance assurance between Customer and Renewable Supplier. In no event shall Company be required to provide performance assurance to any other Party with respect to the transactions covered under this Service Agreement.
