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.

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.

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.