Common use of Creditworthiness Determination Clause in Contracts

Creditworthiness Determination. Duke Energy Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy Ohio of its or its Guarantor’s creditworthiness. Duke Energy Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy Ohio may specify other types of financial statements that will be accepted. If Duke Energy Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy AEP Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy AEP Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy AEP Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy AEP Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy AEP Ohio of its or its Guarantor’s creditworthiness. Duke Energy AEP Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AEP Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AEP Ohio shall perform its credit re-evaluation and associated security calculation in a non-non- discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AEP Ohio may specify other types of financial statements that will be accepted. If Duke Energy AEP Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy Ohio will determine the creditworthiness of an SSO the XXXX Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy Ohio will have full discretion, without liability or recourse to such SSO the XXXX Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO the XXXX Supplier or Guarantor. Duke Energy Ohio may re-evaluate the creditworthiness of an SSO the XXXX Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO the XXXX Supplier’s or Guarantor’s credit standing. In addition, the SSO XXXX Supplier may petition Duke Energy Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO XXXX Supplier reasonably believes would improve the determination made by Duke Energy Ohio of its or its Guarantor’s creditworthiness. Duke Energy Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO The XXXX Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy Ohio may specify other types of financial statements that will be accepted. If Duke Energy Ohio determines in its sole discretion that it is unable to adequately assess an SSO the XXXX Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO the XXXX Supplier or its Guarantor is insufficient, such SSO the XXXX Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy AEP Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicablethe XXXX Supplier, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, or its Guarantor, if applicable, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy AEP Ohio will have full discretion, without liability or recourse to such SSO the XXXX Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO the XXXX Supplier or Guarantor. Duke Energy AEP Ohio may re-evaluate the creditworthiness of an SSO the XXXX Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO the XXXX Supplier’s or Guarantor’s credit standing. In addition, the SSO XXXX Supplier may petition Duke Energy AEP Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO XXXX Supplier reasonably believes would improve the determination made by Duke Energy AEP Ohio of its or its Guarantor’s creditworthiness. Duke Energy AEP Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AEP Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AEP Ohio shall perform its credit re-evaluation and associated security calculation in a non-non- discriminatory manner. Each SSO The XXXX Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AEP Ohio may specify other types of financial statements that will be accepted. If Duke Energy AEP Ohio determines in its sole discretion that it is unable to adequately assess an SSO the XXXX Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO the XXXX Supplier or its Guarantor is insufficient, such SSO the XXXX Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy AEP Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicablethe XXXX Supplier, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, or its Guarantor, if applicable, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy AEP Ohio will have full discretion, without liability or recourse to such SSO the XXXX Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO the XXXX Supplier or Guarantor. Duke Energy AEP Ohio may re-evaluate the creditworthiness of an SSO the XXXX Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO the XXXX Supplier’s or Guarantor’s credit standing. In addition, the SSO XXXX Supplier may petition Duke Energy AEP Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO XXXX Supplier reasonably believes would improve the determination made by Duke Energy AEP Ohio of its or its Guarantor’s creditworthiness. Duke Energy AEP Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AEP Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AEP Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO The XXXX Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AEP Ohio may specify other types of financial statements that will be accepted. If Duke Energy AEP Ohio determines in its sole discretion that it is unable to adequately assess an SSO the XXXX Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO the XXXX Supplier or its Guarantor is insufficient, such SSO the XXXX Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy AEP Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy AEP Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy AEP Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy AEP Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy AEP Ohio of its or its Guarantor’s creditworthiness. Duke Energy AEP Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AEP Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AEP Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AEP Ohio may specify other types of financial statements that will be accepted. If Duke Energy AEP Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy Ohio may re-re- evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy Ohio of its or its Guarantor’s creditworthiness. Duke Energy Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy Ohio may specify other types of financial statements that will be accepted. If Duke Energy Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy AES Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating)credit rating and assessment of financial statements and creditworthiness. Duke Energy AES Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy AES Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes they become aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy AES Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy AES Ohio of its or its Guarantor’s creditworthiness. Duke Energy AES Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AES Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AES Ohio shall perform its credit re-re- evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AES Ohio may specify other types of financial statements that will be accepted. If Duke Energy AES Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) 6.4 and Margin Collateral in accordance with Section 5.76.7.

Creditworthiness Determination. Duke Energy AEP Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicablethe XXXX Supplier, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, or its Guarantor, if applicable, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy AEP Ohio will have full discretion, without liability or recourse to such SSO the XXXX Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO the PIPP Supplier or Guarantor. Duke Energy AEP Ohio may re-evaluate the creditworthiness of an SSO the XXXX Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO the XXXX Supplier’s or Guarantor’s credit standing. In addition, the SSO PIPP Supplier may petition Duke Energy AEP Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO XXXX Supplier reasonably believes would improve the determination made by Duke Energy AEP Ohio of its or its Guarantor’s creditworthiness. Duke Energy AEP Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AEP Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AEP Ohio shall perform its credit re-evaluation and associated security calculation in a non-non- discriminatory manner. Each SSO The PIPP Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AEP Ohio may specify other types of financial statements that will be accepted. If Duke Energy AEP Ohio determines in its sole discretion that it is unable to adequately assess an SSO the XXXX Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO the XXXX Supplier or its Guarantor is insufficient, such SSO the XXXX Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy Ohio to re-re- evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy Ohio of its or its Guarantor’s creditworthiness. Duke Energy Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy Ohio may specify other types of financial statements that will be accepted. If Duke Energy Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

Creditworthiness Determination. Duke Energy ‌ AES Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating)credit rating and assessment of financial statements and creditworthiness. Duke Energy AES Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy AES Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes they become aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy AES Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy AES Ohio of its or its Guarantor’s creditworthiness. Duke Energy AES Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy AES Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy AES Ohio shall perform its credit re-re- evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy AES Ohio may specify other types of financial statements that will be accepted. If Duke Energy AES Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) 6.4 and Margin Collateral in accordance with Section 5.76.7.