Common use of Creditworthiness Clause in Contracts

Creditworthiness. 9.1 INTECK IT’s obligations to supply a Service, and to continue supplying a Service, are subject to INTECK IT being satisfied as to the creditworthiness of the Customer. 9.2 INTECK IT may, from time to time, review the Customer’s creditworthiness. In doing so, INTECK IT may seek from the Customer or an independent person such as a credit reporting agency or credit provider information or advice to assist in the creditworthiness review. 9.3 Customer agrees promptly to cooperate with a review by: (a) providing to INTECK IT any information (including a completed INTECK IT credit application form) INTECK IT reasonably requires to conduct any such review; and (b) giving to INTECK IT permission (which permission is by the signing of the Order Form granted) to communicate with credit reference associations about the Customer’s creditworthiness. The information sought in this clause can include any information reasonably required by INTECK IT about the Customer’s creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive under law. 9.4 The Customer warrants that all material information that it provides to INTECK IT in any creditworthiness review will provide a true and fair view of the Customer’s financial position at the time it is provided, and that all other information is accurate and complete. 9.5 The Customer is entitled to see and to correct any credit information that INTECK IT holds about the Customer. 9.6 Following a creditworthiness review of the Customer which may occur at any time before or during the supply of the Service, INTECK IT may give to the Customer a written notice specifying a credit limit and/or the security that the Customer is required to give to INTECK IT, which shall be in a form and amount that is no more than reasonably required. 9.7 If the Customer fails to provide the security required by INTECK IT within a reasonable time or exceeds the nominated Credit Limit, INTECK IT may suspend the supply of the Service.

Appears in 2 contracts

Samples: General Terms and Conditions, General Terms and Conditions

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Creditworthiness. 9.1 INTECK ITiiNet’s obligations to supply a Service, and to continue supplying a Service, are is subject to INTECK IT iiNet being satisfied as to the creditworthiness of the Customer. 9.2 INTECK IT iiNet may, from time to time, review the Customer’s creditworthiness. In doing so, INTECK IT iiNet may seek from the Customer or an independent person such as a credit reporting agency or credit provider information or advice to assist in the creditworthiness review. 9.3 Customer agrees promptly to cooperate with a review by: (a) providing to INTECK IT iiNet any information (including a completed INTECK IT iiNet credit application form) INTECK IT iiNet reasonably requires to conduct any such review; and (b) giving to INTECK IT iiNet permission (which permission is by the signing of the Order Form granted) to communicate with credit reference associations about the Customer’s creditworthiness. The information sought in this clause can include any information reasonably required by INTECK IT iiNet about the Customer’s creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive under law. 9.4 The Customer warrants that all material information that it provides to INTECK IT iiNet in any creditworthiness review will provide a true and fair view of the Customer’s financial position at the time it is provided, and that all other information is accurate and complete. 9.5 The Customer is entitled to see and to correct any credit information that INTECK IT iiNet holds about the Customer. 9.6 Following a creditworthiness review of the Customer which may occur at any time before or during the supply of the Service, INTECK IT iiNet may give to the Customer a written notice specifying a credit limit and/or the security that the Customer is required to give to INTECK ITiiNet, which shall be in a form and amount that is no more than reasonably required. 9.7 If the Customer fails to provide the security required by INTECK IT iiNet within a reasonable time or exceeds the nominated Credit Limit, INTECK IT iiNet may suspend the supply of the Service.

Appears in 2 contracts

Samples: General Terms and Conditions, General Terms and Conditions

Creditworthiness. 9.1 INTECK ITDorks Delivered’s obligations to supply a Service, and to continue supplying a Service, are subject to INTECK IT Dorks Delivered being satisfied as to the creditworthiness of the Customer. 9.2 INTECK IT Dorks Delivered may, from time to time, review the Customer’s creditworthiness. In doing so, INTECK IT Xxxxx Delivered may seek from the Customer or an independent person such as a credit reporting agency or credit provider information or advice to assist in the creditworthiness review. 9.3 Customer agrees promptly to cooperate with a review by: (a) providing to INTECK IT Dorks Delivered any information (including a completed INTECK IT Dorks Delivered credit application form) INTECK IT Dorks Delivered reasonably requires to conduct any such review; and (b) giving to INTECK IT Dorks Delivered permission (which permission is by the signing of the Order Form granted) to communicate with credit reference associations about the Customer’s creditworthiness. The information sought in this clause can include any information reasonably required by INTECK IT about the Customer’s creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive under law. 9.4 The Customer warrants that all material information that it provides to INTECK IT Dorks Delivered in any creditworthiness review will provide a true and fair view of the Customer’s financial position at the time it is provided, and that all other information is accurate and complete. 9.5 The Customer is entitled to see and to correct any credit information that INTECK IT Dorks Delivered holds about the Customer. 9.6 Following a creditworthiness review of the Customer which may occur at any time before or during the supply of the Service, INTECK IT Dorks Delivered may give to the Customer a written notice specifying a credit limit and/or the security that the Customer is required to give to INTECK ITDorks Delivered, which shall be in a form and amount that is no more than reasonably required. 9.7 If the Customer fails to provide the security required by INTECK IT Dorks Delivered within a reasonable time or exceeds the nominated Credit Limit, INTECK IT Dorks Delivered may suspend the supply of the Service.

Appears in 2 contracts

Samples: General Terms and Conditions, General Terms and Conditions

Creditworthiness. 9.1 INTECK IT’s obligations Customer will satisfy the following creditworthiness requirements set forth in Paragraph 12(A) and agrees that, upon written request by Pipeline, Customer shall provide evidence to supply a Service, and to continue supplying a Service, are subject to INTECK IT being Pipeline of same as soon as practicable but no later than seven (7) days. The credit ratings requirements in Paragraph 12(B) below may be satisfied as to the creditworthiness of the Customer. 9.2 INTECK IT may, from time to time, review the Customer’s creditworthiness. In doing so, INTECK IT may seek from by either the Customer or an independent person such as CONSOL Energy Inc. (Guarantor) whichever is higher, subject to a floor of BBB-/Baa3. CONSOL Energy Inc. may assign its guaranty obligations to Customer, provided, either Customer satisfies the credit reporting agency or credit provider information or advice to assist rating requirements described in the creditworthiness reviewpreceding sentence and has a Credit Rating at or higher than CONSOL Energy Inc. or such assignment may be made with the consent of ETNG, which consent shall not be unreasonably withheld. CONSOL Energy Inc. may assign its guaranty obligations to CNX Gas Corporation, provided, CNX Gas Corporation satisfies the credit rating requirements described above and has a Credit Rating at or higher than CONSOL Energy Inc. or such assignment may be made with the consent of ETNG, which consent shall not be unreasonably withheld. 9.3 (A) Customer agrees promptly to cooperate with a review by: (a) providing to INTECK IT any information (including a completed INTECK IT credit application form) INTECK IT reasonably requires to conduct any such review; and (b) giving to INTECK IT permission (which permission is by the signing of the Order Form granted) to communicate with credit reference associations about the Customer’s creditworthiness. The information sought in this clause can include any information reasonably required by INTECK IT about the Customer’s creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive under law. 9.4 The Customer warrants that all material information that it provides to INTECK IT in any creditworthiness review will provide a true and fair view parental guaranty from CONSOL Energy Inc., or any successor or assign, (hereinafter referred to as “Guarantor”), which will (1) serve to guarantee all of Customer’s obligations for the initial fifteen (15) year term of the FT-L Service Agreement and/or for Customer’s financial position at the time it is providedobligations under this Precedent Agreement, and that all other information is accurate and complete. 9.5 The Customer is entitled to see and to correct any credit information that INTECK IT holds about the Customer. 9.6 Following a creditworthiness review of the Customer which may occur at any time before or during the supply of the Service, INTECK IT may give to the Customer a written notice specifying a credit limit and/or the security that the Customer is required to give to INTECK IT, (2) which shall be in the form, content, and substance as expressly set forth on Exhibit B. (B) Guarantor shall have an investment grade Credit Rating from (two of the following three Rating Agencies): (x) Xxxxx’x Investors Service, Inc. of Baa3 or higher, (y) Standard & Poor’s of BBB- or higher, or (z) Fitch of BBB- or higher. “Credit Rating” shall be defined as an entity’s long-term senior unsecured rating (and if no long-term senior unsecured rating exists, then an Issuer Rating may be used). If Customer’s Guarantor does not have such Credit Rating, Customer (in addition to continuing to provide a parent guaranty from Guarantor) shall be required to satisfy the requirements set forth in Paragraph 12(C). (C) At any time, if Guarantor fails to meet the requirements of Paragraph 12(B) (limited only to the duration as such requirements are not met), Customer or its Guarantor shall provide a standby irrevocable letter of credit (in a form and amount reasonably acceptable to Pipeline similar to that attached as Exhibit C) from a Qualified Institution. “Qualified Institution” shall mean a major U.S. commercial bank, or a foreign bank with a U.S. branch office, which is no more than reasonably required. 9.7 If not the Customer fails to provide the security required by INTECK IT within or Customer’s Guarantor (or a reasonable time subsidiary or exceeds the nominated Credit Limit, INTECK IT may suspend the supply affiliate of the ServiceCustomer or Customer’s Guarantor) and which has assets of at least $10 Billion Dollars and a Credit Rating of at least “A-” by S&P, or “A3” by Moody’s. Such standby irrevocable letter of credit shall be in an amount equal to the collateral requirements set forth in Paragraph D below and shall be limited, in the aggregate, to the lesser of $53,138,000, the Reservation Charges remaining for the term of the FT-L Service Agreement or the remaining Net Book Value plus $6,137,915. On any business day that Pipeline determines that Guarantor’s Credit Rating (by two of the three Rating Agencies: S&P, Moody’s or Fitch (or successor Rating Agencies), has been downgraded to a level requiring the posting of additional collateral as set forth below (“Collateral Requirement”), then Pipeline shall notify Customer in writing that additional collateral is required. After receiving notice from Pipeline, Customer shall cause the additional Collateral Requirement to be met for the benefit of Pipeline as soon as practicable but no later than the close of the fifth (5th) business day following receipt of the notice.

Appears in 1 contract

Samples: Precedent Agreement (CNX Gas CORP)

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Creditworthiness. 9.1 INTECK IT‌ 9.2 TPG’s obligations to supply a Service, and to continue supplying a Service, are subject to INTECK IT Procision Pty Ltd being satisfied as to the creditworthiness of the Customer. 9.2 INTECK IT . Procision Pty Ltd may, from time to time, review the Customer’s creditworthiness. In doing so, INTECK IT Procision Pty Ltd may seek from the 9.3 9.7 Customer or an independent person such as a credit reporting agency or credit provider information or advice to assist in the creditworthiness review. 9.3 . Customer agrees promptly to cooperate with a review by: (a) providing to INTECK IT Procision Pty Ltd any information (including a completed INTECK IT Procision Pty Ltd credit application form) INTECK IT Procision Pty Ltd reasonably requires to conduct any such review; and (b) giving to INTECK IT Procision Pty Ltd permission (which permission is by the signing of the Order Form granted) to communicate with credit reference associations about the Customer’s creditworthiness. The information sought in this clause can include any information reasonably required by INTECK IT Procision Pty Ltd about the Customer’s creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive under law. 9.4 . The Customer warrants that all material information that it provides to INTECK IT Procision Pty Ltd in any creditworthiness review will provide a true and fair view of the Customer’s financial position at the time it is provided, and that all other information is accurate and complete. 9.5 . The Customer is entitled to see and to correct any credit information that INTECK IT Procision Pty Ltd holds about the Customer. 9.6 . Following a creditworthiness review of the Customer which may occur at any time before or during the supply of the Service, INTECK IT Procision Pty Ltd may give to the Customer a written notice specifying a credit limit and/or the security that the Customer is required to give to INTECK ITProcision Pty Ltd, which shall be in a form and amount that is no more than reasonably required. 9.7 . If the Customer fails to provide the security required by INTECK IT Procision Pty Ltd within a reasonable time or exceeds the nominated Credit Limit, INTECK IT Procision Pty Ltd may suspend the supply of the Service.

Appears in 1 contract

Samples: Network General Terms and Conditions

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