Credit Conditions. If, at any time, the financial condition of Buyer, or Xxxxx's prior performance under the terms of this or any other agreement with Seller shall cause Seller to question Buyer's ability to perform, Seller may demand adequate assurance of Buyer's financial condition due to performance. Such demand for assurance may require full payment of all amounts then due and owing by Buyer, or may require partial or full advance payment of the purchase price of goods which have been scheduled for delivery, but shall not be limited to the foregoing. If Buyer falls within 10 days of Seller’s demand to provide the Seller with such assurance, Seller may be entitled to cancel any order then outstanding, shall be entitled to receive reimbursement for its cancellation charges, and may proceed to collect, without limitation, any sums due and owing, its cancellation charges and all damages resulting from Xxxxx's default. In the event of bankruptcy or insolvency of Buyer, or in the event any proceeding brought against Buyer, voluntary or involuntary, under the bankruptcy or insolvency laws, Seller shall be entitled to cancel any orders then outstanding at any time during the period allowed for filing claims against the estate and shall receive reimbursement for its reasonable and proper cancellation charges. Unless otherwise agreed in writing, all export sales are to be covered by an irrevocable confirmed letter of credit established in an acceptable American bank.
Credit Conditions. Credits and/or other compensation under this SLA and other SLAs shall only be payable where:
Credit Conditions. ASF's Credit Services Group will monitor clients' ability to timely meet their financial obligations to ASF. ASF reserves the right to place credit conditions on any client, if ASF determines in its sole discretion, that the client is or has become a credit risk to ASF. The possible credit conditions include but are not limited to: (a) require the client to pay invoices by wire transfer; (b) require the client to immediately post a deposit in an amount determined by ASF to secure client's obligations under the CSA; (c) require the client to prepay its estimated obligations for a payroll period one (1) business day prior to the start of the payroll period; (d) require the client to immediately provide a non-revocable stand-by Letter of Credit in favor of ASF in an amount determined by ASF necessary to secure client's obligations arising under the CSA; and/or (e) require the client to provide other financial security acceptable to ASF.
Credit Conditions. Notwithstanding Section 2.1 of this Agreement, the Lenders each shall not have any duty or obligation to loan, make or otherwise extend the Credit to Compost, Miami and/or Bedminster, and Compost, Miami and Bedminster shall not have any right (under this Agreement, the Credit Documents or any applicable Definitive Supplemental Documents, or otherwise) to compel the Lenders to loan, make or otherwise extend the Credit to Compost and/or Miami and/or Bedminster, unless and until all conditions, that are otherwise set forth in 1) this Agreement, 2) the Credit Documents and 3) any other applicable Definitive Supplemental Documents, are satisfied by Compost and Miami and Bedminster, to the reasonable satisfaction of the Lenders, and their respective counsel, on or before the Term Loan Closing on the Closing Date at the Closing Location.
Credit Conditions. The then current value of Crude Oil and Products held in storage by Crown on Statoil's behalf, pursuant to this Agreement, shall be debited against any credit facility which Statoil shall make available to Crown for this and/or any other business purpose. At Statoil's request, and upon reasonable notice, Crown shall provide to Statoil information sufficient to enable Statoil to ascertain Crown's current financial condition, and for Statoil to assure itself of the security of Crude Oil and Products owned by Statoil which is in Crown's custody. Statoil reserves the right, immediately and without prior notice, to terminate or suspend any credit facility, and any other credit arrangements, which Statoil shall make available to Crown for this and/or any other business purpose, whenever, in its sole judgment, Statoil considers Crown's financial condition to present an undue risk to the security of Statoil's assets in Crown's custody, or should Statoil conclude that it has not or cannot obtain sufficient information to ascertain the security of such assets. In the event that such termination or suspension is initiated, then Statoil shall immediately notify Crown, and Crown shall then have the option of opening an irrevocable, stand-by Letter of Credit, in the format and wording stated in Addendum Two, with a financial institution acceptable to Statoil, and for a duration specified by Statoil, to cover a value as determined by Statoil, up to the full value of Statoil's assets as may be held by Crown during the course of this Agreement.
Credit Conditions. Blue Spike may, at its sole discretion, establish conditions and reasonable credit facilities for the sale of Products to customers. All interest arising from the use of such credit facilities by customers, if any, will accrue to Blue Spike, without compensation to BBII.
Credit Conditions. (i) The then current value of Crude Oil and Products held in storage by Crown on Statoil's behalf, pursuant to this Agreement, shall be debited against any credit facility that Statoil shall make available to Crown for this and/or any other business purpose. Crown shall provide Statoil with balance sheet information on a monthly basis including assets, liabilities and debt levels for the months these figures are not available in public financial statements. Statoil shall treat nonpublic information on a confidential basis. At Statoil's request, and upon reasonable notice, Crown shall provide to Statoil any other information sufficient to enable Statoil to ascertain Crown's current financial condition, and for Statoil to assure itself of the security of Crude Oil and Products owned by Statoil which is in Crown's custody. In addition, Crown shall notify Statoil within twenty-four (24) hours of any event which could reasonably be expected to have a material adverse effect on Crown's financial condition, operations, business or prospects taken as a whole, including but not limited to, adverse changes in Crown's debt to equity ratio, default under the Credit Agreement or Indenture, default in the payment when due of any principal of or interest on any indebtedness aggregating USD 1 million or more, a final judicial or administrative judgment against Crown which is in excess of USD 1 million in the aggregate, a downgrading of Crown's credit and debt rating by a national credit agency and a reduction in credit availability in excess of USD 5 million.
Credit Conditions
