Creditworthiness. Seller, in order to satisfy itself of the ability of the Buyer to meet its obligations under the contract, may conduct periodic reasonable credit reviews in accordance with standard commercial practices. Xxxxx agrees to assist in these reviews by providing financial information and at the request of the Seller, will maintain such credit support or surety including, but not limited to, an unconditional and irrevocable letter of credit to provide adequate security for protection against the risk of nonpayment.
Creditworthiness. All Transmission Customers and applicants seeking to become Transmission Customers shall be subject to the creditworthiness requirements contained in Attachment K to the ISO Services Tariff, including the minimum participation criteria set forth in Section 26.1 of Attachment K. “Customer,” as used in Attachment K to the ISO Services Tariff, shall also mean “Transmission Customer” and an applicant seeking to become a Transmission Customer.
Creditworthiness. (a) At any time during the Term, the Service Providers may request in writing, and if so requested the Shipper must provide:
Creditworthiness. In the event Seller: a) is unable to represent or warrant as required by Section 3 that it has not been a debtor in any bankruptcy proceeding within the past two (2) years;
Creditworthiness. In order for Company to participate in the origination of fund transfer entries (“Entry” or “Entries”), pursuant to this Agreement, Company must be creditworthy in accordance with the Bank’s policies. Company agrees that Bank may request and obtain credit information about Company in order to determine their creditworthiness. This credit information includes but is not limited to financial information to be obtained directly from Company and credit bureau reports. The Bank reserves the right to immediately terminate this Agreement if the creditworthiness of Company should deteriorate to an unacceptable level as determined by the Bank in its sole discretion.
Creditworthiness. 6.1 We may determine your creditworthiness by doing a credit assessment of you, using any information we are permitted by law to use to do so.
Creditworthiness. Neither the Company nor the Shipper shall be required to commence service or continue with service, subject to the following timing provisions, to continue under this Storage or Transportation Service Agreement if either the Shipper or the Company (a) is or has become insolvent; (b) has applied for bankruptcy under Chapter 11 of the Bankruptcy Code, or which is subject to similar proceedings under state or federal law; or no longer meets the credit worthiness standards specified in Section 14.5 of the Agreement or (c) when requested by the non-affected party to demonstrate creditworthiness, fails to do so in requesting party’s reasonable judgment, in light of previous payment or performance experience and the prudent credit analysis of information available; provided, however, if the Shipper is the affected party and is receiving service they shall continue to receive service for a period of fifteen (15) days after written notice by Company of any such circumstance, and shall continue thereafter to receive service if, within such fifteen (15) day notice period, such Shipper (a) deposits with Company and maintains, on account, an amount which would be due for three (3) months service at the full Maximum Daily Withdrawal Quantity, or the full Maximum Daily Transportation Quantity, including an amount of the current gas imbalance plus, an amount equal to the three (3) highest cashout payments, if any, incurred during the previous twelve months, or (b) furnishes good and sufficient security, which may include an acceptable standby letter of credit, or monthly prepayment agreement or other security as reasonably determined by Company, of a continuing nature and in an amount equal to such amounts which would be due for service. If such payment on account or payment security is not received within such fifteen (15) day notice period, Company may, without waiving any rights or remedies it may have, suspend further service for a period of ten (10) days. If such payment on account or a payment security is not received within such ten (10) day suspension period, then Company shall no longer be obligated to continue to provide service to such Shipper. Further, if such payment on account or a payment security is not received within sixty (60) days after the end of such suspension period, Company may terminate its obligations to provide service under all agreements between Shipper and Company, which termination shall not affect any of Company’s claims or remedies it may...
Creditworthiness. 16.1 We may conduct a credit assessment on you by obtaining a credit check of your credit history and to using any other information we are permitted by law to use to establish your creditworthiness.
Creditworthiness. 18.1 We may seek to undertake a credit check on you, using any information we are permitted by law to use to establish your creditworthiness.
Creditworthiness. By the earlier of (i) thirty (30) Calendar Days prior to the due date for Customer’s first payment under the payment schedule specified in Appendix A or (ii) the first date specified in Appendix A for the ordering of equipment by Transmission Owner for installing the CUU, each Customer shall provide Transmission Owner with a form of irrevocable security reasonably acceptable to Transmission Owner as an adequate assurance of creditworthiness for Customer’s proportionate share of responsibility for the CUU. A Customer’s irrevocable security will not be refunded in the event Customer is terminated from the Agreement, except as provided in this Article. Pursuant to Article 2.2.5, MISO may restudy any time that a Customer is terminated from the Agreement. If a Customer fails to provide acceptable irrevocable security pursuant to Article 6.1, Customer will be terminated from this Agreement, its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue, and Transmission Provider may declare a breach under Customer’s related GIA, if any, and seek termination thereof. If a Customer is terminated from the Agreement, Transmission Owner will retain the irrevocable security of all remaining Customers, and Transmission Provider will determine whether to add additional interconnection customer(s) as parties to this Agreement pursuant to Article 2.2.5. Additionally, whether or not an additional Customer is added to this Agreement, Transmission Provider shall adjust the proportionate share of the costs to be borne by the remaining Customers when a Customer has been terminated from this Agreement. If the addition of a Customer to the Agreement results in a reduction of cost estimates, the cost estimates of all remaining Customers will be reduced proportionately. It is expressly understood that an Customers’ proportionate share of the responsibility for the costs of the CUU may increase or decrease. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate set forth in Appendix A, any such Customer whose proportionate share of the cost estimate increases by more than twenty-five (25) percent may withdraw from the Agreement within thirty (30) Calendar Days of the date that Transmission Provider notifies Customer of the redetermination of its proportionate share of the cost responsibility. If a Customer withdraws pursuant to this option, th...
