Credit Assurance. Processor shall apply consistent evaluation practices to all similarly situated producers to determine Producer’s financial ability to perform its payment obligations under this Agreement. (a) If Processor has reasonable grounds for insecurity regarding the performance of any obligation by Producer under this Agreement (whether or not then due), Processor may demand Adequate Assurance of Performance from Producer, which Adequate Assurance of Performance shall be provided to Processor within five (5) Days after written request. If Producer fails to provide such Adequate Assurance of Performance within such time, then Processor may suspend its performance under this Agreement until such Adequate Assurance of Performance is provided. However, any action by Processor shall not relieve Producer of its payment obligations. The exercise by Processor of any right under this Section 13.6 shall be without prejudice to any claims for damages or any other right under this Agreement. As used herein, “Adequate Assurance of Performance” means any of the following, in Processor’s reasonable discretion:
Appears in 4 contracts
Samples: Right of First Offer Agreement (ANTERO RESOURCES Corp), Right of First Offer Agreement (Antero Midstream Partners LP), Right of First Offer Agreement (Antero Midstream Partners LP)
