Common use of Creditworthiness Requirements Clause in Contracts

Creditworthiness Requirements. 7.1.1 In order to secure Network User’s due performance of this Agreement, Network User shall: (i) either submit a Collateral in accordance with Article 7.2; or, (ii) have an acceptable credit rating – which corresponds to a rating for the Network User’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 to provide an unconditional and irrevocable parent company guarantee by its parent company who has such acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or Moody’s : Baa1). The Network User must demonstrate at the latest on the Start Date and then annually at the latest each 1st of January that the Network User or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.1. (ii), the Network User shall provide a Collateral in accordance with Article 7.2 of these General Conditions if Network User has made a payment with a delay after the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) Months. 7.1.3 The Balancing Operator shall before entering into a contract, request the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established by the Balancing Operator. After the Agreement has duly entered into force, Balancing Operator may assess at any time the compliance of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Area.

Creditworthiness Requirements. 7.1.1 In order  The Terminal Operator is entitled to secure Network User’s due performance of this Agreement, Network User shall: (i) either submit require the Shipper having entered into an LSA to: Provide a Collateral Financial Bank Guarantee in accordance with Article 7.2GC 8.2; or, , Provided that there are no invoiced amounts overdue, at the latest five (ii5) Business Days before the Services Start Date and until the Service End Date of any Service Confirmation, have an acceptable credit rating – which corresponds to a rating for the Network UserShipper’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 to provide an unconditional and irrevocable parent company guarantee by to cover for the obligations of Shipper under this Agreement via its parent company who has such an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or and Moody’s : Baa1). The Network User Shipper must demonstrate annually and at the latest on the Start Date and then annually anniversary date of the subscribed LNG Services, with a term of at the latest each 1st of January least thirty (30) Days left to run, that the Network User itself or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.1.  Terminal Operator shall be entitled at any time during the Service Term to request Shipper to demonstrate within fifteen (ii)15) Business Days after the notification by Terminal Operator that the Financial Bank Guarantee or the acceptable credit rating, is in fact compliant with this GC 8.  If the Shipper no longer meets the requirements stipulated in GC 8.1, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. The Shipper has fifteen (15) Business Days in order to demonstrate to the Terminal Operator that it complies with the provisions of GC 8.1.1. If upon expiry of this period, the Network User shall provide a Collateral Shipper does not comply with the provisions of GC 8.1.1, the Terminal Operator will be entitled to suspend the LNG Services in accordance with Article 7.2 GC 16.  Any modification of these General Conditions if Network User has made a payment with a delay after Shipper’s subscribed LNG Service(s), lower or higher, during the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) Months. 7.1.3 The Balancing Operator shall before entering into a contract, request the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established Service Term covered by the Balancing Operator. After Financial Bank Guarantee or the Agreement has duly entered into forceparent company guarantee as the case may be, Balancing Operator may assess at any time shall automatically entail the compliance adjustment of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs amount of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Areaaccordingly.

Creditworthiness Requirements. 7.1.1 In order 8.1.1 The Terminal Operator is entitled to secure Network User’s due performance of this Agreement, Network User shall: (i) either submit require the Shipper having entered into an LSA to: Provide a Collateral Financial Bank Guarantee in accordance with Article 7.2GC 8.2; or, , Provided that there are no invoiced amounts overdue, at the latest five (ii5) Business Days before the Services Start Date and until the Service End Date of any Service Confirmation, have an acceptable credit rating – which corresponds to a rating for the Network UserShipper’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 to provide an unconditional and irrevocable parent company guarantee by to cover for the obligations of Shipper under this Agreement via its parent company who has such an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or Moody’s and Xxxxx’x : Baa1). The Network User Shipper must demonstrate annually and at the latest on the Start Date and then annually anniversary date of the subscribed LNG Services, with a term of at the latest each 1st of January least thirty (30) Days left to run, that the Network User itself or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.18.1.2 Terminal Operator shall be entitled at any time during the Service Term to request Shipper to demonstrate within fifteen (15) Business Days after the notification by Terminal Operator that the Financial Bank Guarantee or the acceptable credit rating, is in fact compliant with this GC 8. 8.1.3 If the Shipper no longer meets the requirements stipulated in GC 8.1, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. The Shipper has fifteen (ii)15) Business Days in order to demonstrate to the Terminal Operator that it complies with the provisions of GC 8.1.1. If upon expiry of this period, the Network User shall provide a Collateral Shipper does not comply with the provisions of GC 8.1.1, the Terminal Operator will be entitled to suspend the LNG Services in accordance with Article 7.2 of these General Conditions if Network User has made a payment with a delay after the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) MonthsGC 16. 7.1.3 The Balancing Operator shall before entering into a contract8.1.4 Any modification of Xxxxxxx’s subscribed LNG Service(s), request lower or higher, during the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established Service Term covered by the Balancing Operator. After Financial Bank Guarantee or the Agreement has duly entered into forceparent company guarantee as the case may be, Balancing Operator may assess at any time shall automatically entail the compliance adjustment of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs amount of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Areaaccordingly.

Creditworthiness Requirements. 7.1.1 In order ‌ 8.1.1 The Terminal Operator is entitled to secure Network User’s due performance of this Agreement, Network User shallrequire the Transshipper having entered into an LTSA to: (i) either submit Provide a Collateral Financial Bank Guarantee in accordance with Article 7.2GC 8.2; or, (ii) Provided that there are no invoiced amounts overdue, at the latest five (5) Business Days before the Services Start Date and until the Service End Date of any Service Confirmation, have an acceptable credit rating – which corresponds to a rating for the Network UserTransshipper’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 to provide an unconditional and irrevocable parent company guarantee by to cover for the obligations of Transshipper under this Agreement via its parent company who has such an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or and Moody’s : Baa1). The Network User Transshipper must demonstrate annually and at the latest on the Start Date and then annually anniversary date of the subscribed LNG Transshipment Services, with a term of at the latest each 1st of January least thirty (30) Days left to run, that the Network User itself or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.18.1.2 Terminal Operator shall be entitled at any time during the Service Term to request Transshipper to demonstrate within fifteen (15) Business Days after the notification by Terminal Operator that the Financial Bank Guarantee or the acceptable credit rating, is in fact compliant with this GC 8. 8.1.3 If the Transshipper no longer meets the requirements stipulated in GC 8.1, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. The Transshipper has fifteen (ii)15) Business Days in order to demonstrate to the Terminal Operator that it complies with the provisions of GC 8.1.1. If upon expiry of this period, the Network User shall provide a Collateral Transshipper does not comply with the provisions of GC 8.1.1, the Terminal Operator will be entitled to suspend the LNG Transshipment Services in accordance with Article 7.2 of these General Conditions if Network User has made a payment with a delay after the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) MonthsGC 16. 7.1.3 The Balancing Operator shall before entering into a contract8.1.4 Any modification of Transshipper’s Subscribed LNG Transshipment Service(s), request lower or higher, during the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established Service Term covered by the Balancing Operator. After Financial Bank Guarantee or the Agreement has duly entered into forceparent company guarantee as the case may be, Balancing Operator may assess at any time shall automatically entail the compliance adjustment of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs amount of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Areaaccordingly.

Creditworthiness Requirements. 7.1.1 In order to secure Network User’s due performance of this Agreement, Network User shall: (i) either submit a Collateral in accordance with Article 7.2; or, (ii) have an acceptable credit rating – which corresponds to a rating for the Network User’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 to provide an unconditional and irrevocable parent company guarantee by its parent company who has such acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or Moody’s Xxxxx’x : Baa1). The Network User must demonstrate at the latest on the Start Date and then annually at the latest each 1st of January that the Network User or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.1. (ii), the Network User shall provide a Collateral in accordance with Article 7.2 of these General Conditions if Network User has made a payment with a delay after the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) Months. 7.1.3 The Balancing Operator shall before entering into a contract, request the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established by the Balancing Operator. After the Agreement has duly entered into force, Balancing Operator may assess at any time the compliance of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Area.

Creditworthiness Requirements. 7.1.1 In order 8.1.1 The Terminal Operator is entitled to secure Network User’s due performance of this Agreement, Network User shall: (i) either submit require the Shipper having entered into an LSA to: Provide a Collateral Financial Bank Guarantee in accordance with Article 7.2GC 8.2; or, , Provided that there are no invoiced amounts overdue, at the latest five (ii5) Business Days before the Services Start Date and until the Service End Date of any Service Confirmation, have an acceptable credit rating – which corresponds to a rating for the Network UserShipper’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 to provide an unconditional and irrevocable parent company guarantee by to cover for the obligations of Shipper under this Agreement via its parent company who has such an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ or and Moody’s : Baa1). The Network User Shipper must demonstrate annually and at the latest on the Start Date and then annually anniversary date of the subscribed LNG Services, with a term of at the latest each 1st of January least thirty (30) Days left to run, that the Network User itself or its parent company still meets the requirements of an acceptable credit rating. 7.1.2 Notwithstanding Article 7.1.18.1.2 Terminal Operator shall be entitled at any time during the Service Term to request Shipper to demonstrate within fifteen (15) Business Days after the notification by Terminal Operator that the Financial Bank Guarantee or the acceptable credit rating, is in fact compliant with this GC 8. 8.1.3 If the Shipper no longer meets the requirements stipulated in GC 8.1, it must, at the risk of breach of contract, immediately notify the Terminal Operator hereof by registered mail. The Shipper has fifteen (ii)15) Business Days in order to demonstrate to the Terminal Operator that it complies with the provisions of GC 8.1.1. If upon expiry of this period, the Network User shall provide a Collateral Shipper does not comply with the provisions of GC 8.1.1, the Terminal Operator will be entitled to suspend the LNG Services in accordance with Article 7.2 of these General Conditions if Network User has made a payment with a delay after the Due Date of more than: (i) twenty (20) Business Days once in the past twelve (12) Months; or, (ii) ten (10) Business Days twice in the past twelve (12) Months; The obligation to provide such Collateral shall expire if no new delay as referred to under this provision has been recorded for an uninterrupted period of twelve (12) MonthsGC 16. 7.1.3 The Balancing Operator shall before entering into a contract8.1.4 Any modification of Xxxxxxx’s subscribed LNG Service(s), request lower or higher, during the Network User to demonstrate that it is complying with the Creditworthiness provisions as well as to comply with the "Know Your Customer" requirements established Service Term covered by the Balancing Operator. After Financial Bank Guarantee or the Agreement has duly entered into forceparent company guarantee as the case may be, Balancing Operator may assess at any time shall automatically entail the compliance adjustment of the Network User with the "Know Your Customer" requirements and may request the Network User to demonstrate its compliance with the Creditworthiness provisions under Article 7.1 and “Know Your Customer” requirements. In case the Network User fails to demonstrate compliance within twenty (20) Business Days, the Balancing Operator shall inform the TSOs amount of the BeLux Area (and the Network User acknowledges that TSOs of the BeLux Area have the right to immediately suspend all or part of Services of the Network User in accordance with the contractual provisions provided for this purpose). At the same time the Balancing Operator shall notify the Network User that he has informed the TSOs of the BeLux Areaaccordingly.