Common use of CREDIT COVER Clause in Contracts

CREDIT COVER. 7.1 The Client which has subscribed LNG Truck Services for at least one hundred thousand Euro (100,000.00 €) per Contract Year has to provide a Financial Bank Guarantee in order to secure its due performance of this LTL in accordance with this GC 7 unless if, at the latest five (5) Business Days before the Service Start Date: • the Client has an acceptable credit rating – which corresponds to a rating for the Client’s long term unsecured and non credit enhanced debt obligations of not less than BBB+ by Standard & Poor’s Rating Services or Fitch Ratings or not less than Baa1 by Xxxxx’x Investor Services –; or • the Client can provide an unconditional and irrevocable parent company guarantee of its parent company, which has a credit rating not lower than BBB+ by Standard & Poor’s Rating Services or Fitch Rating, or not lower than Baa1 by Xxxxx’x Investor Services provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date. The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the XXXX. Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements. The Client must proactively demonstrate on an annual basis, at the latest each 1st of January, that the Client or its Parent Company still complies with the Credit Cover provisions and “Know Your Customer” requirements In case the Client fails to demonstrate compliance, the Terminal Operator has the right to suspend the LNG Truck Services until it receives confirmation that the requirements have been complied with. Such suspension shall not constitute a failure by the Terminal Operator to provide LNG Truck Services to Client under this LTL. 7.2 In case a Financial Bank Guarantee is required according to GC 7.1, the Client has to provide at the latest five (5) Business Days before the Services Start Date an unconditional and irrevocable Financial Bank Guarantee issued by a bank approved by the Financial Services & Market Authority (“FSMA” or by an equivalent body in one of the Members States of the European Union) and which has a credit rating corresponding to a rating of not less than A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than A3 by Xxxxx’x Investor Services, for an amount at least equal to the anticipated amount of Client’s Monthly Capacity Charge for the following two (2) Months. The Monthly Capacity Charge for the following Month will be estimated as one (1) divided by the Service Term (expressed in Months with a maximum of 12 Months) multiplied by the LNG Truck Loading Service Rights during the relevant Contract Year multiplied by the applicable Regulated Tariff. This amount shall however be rounded upwards to the first thousand Euro (1,000 €). 7.3 The Client must demonstrate annually and at the latest on the anniversary date of the LNG Truck Services subscribed, that the financial institution, or the equivalent body that meets the requirements stipulated in GC 7.2, which has issued the Financial Bank Guarantee, has extended the Financial Bank Guarantee’s term and has amended the amount thereof to correspond to the amount as specified in GC 7.2. 7.4 If the Client no longer meets the requirements stipulated in GC 7.1 and 7.2, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. If during the Contract Term the Client must provide a Financial Bank Guarantee in accordance with the Article 7.1, the Terminal Operator shall notify the Client hereof by registered mail.

CREDIT COVER. 7.1 The Client which has subscribed LNG Truck Services for at least one hundred thousand Euro (100,000.00 €) per Contract Year has to provide a Financial Bank Guarantee in order to secure its due performance of this LTL in accordance with this GC 7 unless if, at the latest five (5) Business Days before the Service Start Date: • if the Client has an acceptable credit rating – which corresponds to a rating for the Client’s long term unsecured and non credit enhanced debt obligations of not less than BBB+ A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than Baa1 A3 by Xxxxx’x Investor Services –; or • the Client can provide an unconditional and irrevocable parent company guarantee of its parent company, which has a credit rating not lower than BBB+ by Standard & Poor’s Rating Services or Fitch Rating, or not lower than Baa1 by Xxxxx’x Investor Services – provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date. The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the XXXX. Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements. The Client must proactively demonstrate on an annual basis, at the latest each 1st of January, that the Client or its Parent Company still complies with the Credit Cover provisions and “Know Your Customer” requirements In case the Client fails to demonstrate compliance, the Terminal Operator has the right to suspend the LNG Truck Services until it receives confirmation that the requirements have been complied with. Such suspension shall not constitute a failure by the Terminal Operator to provide LNG Truck Services to Client under this LTL. 7.2 In case a Financial Bank Guarantee is required according to GC 7.1, the Client has to provide at the latest five (5) Business Days before the Services Start Date the Client an unconditional and irrevocable Financial Bank Guarantee issued by a bank approved by the Financial Services & Market Authority (“FSMA” or by an equivalent body in one of the Members States of the European Union) and which has a credit rating corresponding to a rating of not less than A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than A3 by Xxxxx’x Investor Services, for an amount at least equal to the anticipated amount of Client’s Monthly Capacity Charge for the following two (2) Months. The Monthly Capacity Charge for the following Month will be estimated as one (1) divided by the Service Term (expressed in Months with a maximum of 12 Months) multiplied by the LNG Truck Loading Service Rights during the relevant Contract Year multiplied by the applicable Regulated Tariff. This amount shall however be rounded upwards to the first thousand Euro (1,000 €).. Deleted: January 1st 2014 Deleted: September 19th 2013 7.3 The Client must demonstrate annually and at the latest on the anniversary date of the LNG Truck Services subscribed, that the financial institution, or the equivalent body that meets the requirements stipulated in GC 7.2, which has issued the Financial Bank Guarantee, has extended the Financial Bank Guarantee’s term and has amended the amount thereof to correspond to the amount as specified in GC 7.2. 7.4 If the Client no longer meets the requirements stipulated in GC 7.1 and 7.2, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. If during the Contract Term the Client must provide a Financial Bank Guarantee in accordance with the Article 7.1, the Terminal Operator shall notify the Client hereof by registered mail.

CREDIT COVER. 7.1 The Client which has subscribed LNG Truck Services for at least one hundred thousand Euro (100,000.00 €) per Contract Year has to provide a Financial Bank Guarantee in order to secure its due performance of this LTL in accordance with this GC 7 unless if, at the latest five (5) Business Days before the Service Start DateDate : • the Client has an acceptable credit rating – which corresponds to a rating for the Client’s long term unsecured and non credit enhanced debt obligations of not less than BBB+ BBB+A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than Baa1 Baa1A3 by Xxxxx’x Investor Services –– provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date; or • the Client can provide an unconditional and irrevocable parent company guarantee of its parent company, which has a credit rating not lower than BBB+ by Standard & Poor’s Rating Services or Fitch Rating, or not lower than Baa1 by Xxxxx’x Investor Services provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date. The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the XXXX. Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements. The Client must proactively demonstrate on an annual basis, at the latest each 1st of January, that the Client or its Parent Company still complies with the Credit Cover provisions and “Know Your Customer” requirements In case the Client fails to demonstrate compliance, the Terminal Operator has the right to suspend the LNG Truck Services Confirmation until it receives confirmation that the requirements have been complied with. Such suspension shall not constitute a failure by the Terminal Operator to provide LNG Truck Services to Client under this LTL. 7.2 In case a Financial Bank Guarantee is required according to GC 7.1, the Client has to provide at the latest five (5) Business Days before the Services Start Date an unconditional and irrevocable Financial Bank Guarantee issued by a bank approved by the Financial Services & Market Authority (“FSMA” or by an equivalent body in one of the Members States of the European Union) and which has a credit rating corresponding to a rating of not less than A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than A3 by Xxxxx’x Investor Services, for an amount at least equal to the anticipated amount of Client’s Monthly Capacity Charge for the following two (2) Months. The Monthly Capacity Charge for the following Month will be estimated as one (1) divided by the Service Term (expressed in Months with a maximum of 12 Months) multiplied by the LNG Truck Loading Service Rights Right during the relevant Contract Year multiplied by the applicable Regulated Tariff. This amount shall however be rounded upwards to the first thousand Euro (1,000 €). 7.3 The Client must demonstrate annually and at the latest on the anniversary date of the LNG Truck Services subscribed, that the financial institution, or the equivalent body that meets the requirements stipulated in GC 7.2, which has issued the Financial Bank Guarantee, has extended the Financial Bank Guarantee’s term and has amended the amount thereof to correspond to the amount as specified in GC 7.2. 7.4 If the Client no longer meets the requirements stipulated in GC 7.1 and 7.2, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. If during the Contract Term the Client must provide a Financial Bank Guarantee in accordance with the Article 7.1, the Terminal Operator shall notify the Client hereof by registered mail.

CREDIT COVER. 7.1 The Client which has subscribed LNG Truck Services for at least one hundred thousand Euro (100,000.00 €) per Contract Year has to provide a Financial Bank Guarantee in order to secure its due performance of this LTL in accordance with this GC 7 unless if, at the latest five (5) Business Days before the Service Start Date: • if the Client has an acceptable credit rating – which corresponds to a rating for the Client’s long term unsecured and non credit enhanced debt obligations of not less than BBB+ A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than Baa1 A3 by Xxxxx’x Investor Services –; or • the Client can provide an unconditional and irrevocable parent company guarantee of its parent company, which has a credit rating not lower than BBB+ by Standard & Poor’s Rating Services or Fitch Rating, or not lower than Baa1 by Xxxxx’x Investor Services – provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date. The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the XXXX. Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements. The Client must proactively demonstrate on an annual basis, at the latest each 1st of January, that the Client or its Parent Company still complies with the Credit Cover provisions and “Know Your Customer” requirements In case the Client fails to demonstrate compliance, the Terminal Operator has the right to suspend the LNG Truck Services until it receives confirmation that the requirements have been complied with. Such suspension shall not constitute a failure by the Terminal Operator to provide LNG Truck Services to Client under this LTL. 7.2 In case a Financial Bank Guarantee is required according to GC 7.1, the Client has to provide at the latest five (5) Business Days before the Services Start Date an unconditional and irrevocable Financial Bank Guarantee issued by a bank approved by the Financial Services & Market Authority (“FSMA” or by an equivalent body in one of the Members States of the European Union) and which has a credit rating corresponding to a rating of not less than A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than A3 by Xxxxx’x Investor Services, for an amount at least equal to the anticipated amount of Client’s Monthly Capacity Charge for the following two (2) Months. The Monthly Capacity Charge for the following Month will be estimated as one (1) divided by the Service Term (expressed in Months with a maximum of 12 Months) multiplied by the LNG Truck Loading Service Rights during the relevant Contract Year multiplied by the applicable Regulated Tariff. This amount shall however be rounded upwards to the first thousand Euro (1,000 €). 7.3 The Client must demonstrate annually and at the latest on the anniversary date of the LNG Truck Services subscribed, that the financial institution, or the equivalent body that meets the requirements stipulated in GC 7.2, which has issued the Financial Bank Guarantee, has extended the Financial Bank Guarantee’s term and has amended the amount thereof to correspond to the amount as specified in GC 7.2. 7.4 If the Client no longer meets the requirements stipulated in GC 7.1 and 7.2, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. If during the Contract Term the Client must provide a Financial Bank Guarantee in accordance with the Article 7.1, the Terminal Operator shall notify the Client hereof by registered mail.

CREDIT COVER. 7.1 The Client which has subscribed LNG Truck Services for at least one hundred thousand Euro (100,000.00 €) per Contract Year has to provide a Financial Bank Guarantee in order to secure its due performance of this LTL in accordance with this GC 7 unless if, at the latest five (5) Business Days before the Service Start Date: • the Client has an acceptable credit rating – which corresponds to a rating for the Client’s long term unsecured and non credit enhanced debt obligations of not less than BBB+ by Standard & Poor’s Rating Services or Fitch Ratings or not less than Baa1 by Xxxxx’x Investor Services –; or • the Client can provide an unconditional and irrevocable parent company guarantee of its parent company, which has a credit rating not lower than BBB+ by Standard & Poor’s Rating Services or Fitch Rating, or not lower than Baa1 by Xxxxx’x Investor Services provided however that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date. The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the XXXX. Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements. The Client must proactively demonstrate on an annual basis, at the latest each 1st of January, that the Client or its Parent Company still complies with the Credit Cover provisions and “Know Your Customer” requirements In case the Client fails to demonstrate compliance, the Terminal Operator has the right to suspend the LNG Truck Services until it receives confirmation that the requirements have been complied with. Such suspension shall not constitute a failure by the Terminal Operator to provide LNG Truck Services to Client under this LTL. 7.2 In case a Financial Bank Guarantee is required according to GC 7.1, the Client has to provide at the latest five (5) Business Days before the Services Start Date an unconditional and irrevocable Financial Bank Guarantee issued by a bank approved by the Financial Services & Market Authority (“FSMA” or by an equivalent body in one of the Members States of the European Union) and which has a credit rating corresponding to a rating of not less than A- by Standard & Poor’s Rating Services or Fitch Ratings or not less than A3 by Xxxxx’x Investor Services, for an amount at least equal to the anticipated amount of Client’s Monthly Capacity Charge for the following two (2) Months. The Monthly Capacity Charge for the following Month will be estimated as one (1) divided by the Service Term (expressed in Months with a maximum of 12 Months) multiplied by the LNG Truck Loading Service Rights during the relevant Contract Year multiplied by the applicable Regulated Tariff. This amount shall however be rounded upwards to the first thousand Euro (1,000 €). 7.3 The Client must demonstrate annually and at the latest on the anniversary date of the LNG Truck Services subscribed, that the financial institution, or the equivalent body that meets the requirements stipulated in GC 7.2, which has issued the Financial Bank Guarantee, has extended the Financial Bank Guarantee’s term and has amended the amount thereof to correspond to the amount as specified in GC 7.2. 7.4 If the Client no longer meets the requirements stipulated in GC 7.1 and 7.2, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. If during the Contract Term the Client must provide a Financial Bank Guarantee in accordance with the Article 7.1, the Terminal Operator shall notify the Client hereof by registered mail.