Common use of Creditworthiness Requirements Clause in Contracts

Creditworthiness Requirements. 8.1.1 The Terminal Operator is entitled to require the Shipper having entered into an LSA to: Provide a Financial Bank Guarantee in accordance with GC 8.2; or, 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 Shipper’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 to cover for the obligations of Shipper under this Agreement via its parent company who has an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ and Moody’s : Baa1). The Shipper must demonstrate annually and at the latest on the anniversary date of the subscribed LNG Services, with a term of at least thirty (30) Days left to run, that itself or its parent company still meets the requirements of an acceptable credit rating.

Creditworthiness Requirements. 8.1.1 The Terminal Operator is entitled to require the Shipper having entered into an LSA to: Provide a Financial Bank Guarantee in accordance with GC 8.2; or, 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 Shipper’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 to cover for the obligations of Shipper under this Agreement via its parent company who has an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ and Moody’s Xxxxx’x : Baa1). The Shipper must demonstrate annually and at the latest on the anniversary date of the subscribed LNG Services, with a term of at least thirty (30) Days left to run, that itself or its parent company still meets the requirements of an acceptable credit rating.

Creditworthiness Requirements. 8.1.1 The Terminal Operator is entitled to require the Shipper having entered into an LSA to: Provide a Financial Bank Guarantee in accordance with GC 8.2; or, 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 Shipper’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 Moody’s Investor Services – or to provide an unconditional and irrevocable parent company guarantee to cover for the obligations of Shipper under this Agreement via its parent company who has an acceptable credit rating (Standard & Poor’s/Fitch : BBB+ and Moody’s : Baa1). The Shipper must demonstrate annually and at the latest on the anniversary date of the subscribed LNG Services, with a term of at least thirty (30) Days left to run, that itself or its parent company still meets the requirements of an acceptable credit rating.