Common use of Financial Security Clause in Contracts

Financial Security. For an Entity applying to become a Participant or any continuing Participant that the Management Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-payment.

Financial Security. For an Entity applying to become a Participant or any continuing Participant that the Management Participants Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Participants Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Participants Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Participants Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-non- payment.

Financial Security. For an Entity applying to become a Participant or any continuing Participant that the Management Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an unconditional and irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-payment.

Financial Security. For an Entity applying to become a Participant or ------------------- any continuing Participant that the Management Participants Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Participants Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Participants Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Participants Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-payment.

Financial Security. For an Entity applying to become a Participant or ------------------- any continuing Participant that the Management Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an unconditional and irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-payment.

Financial Security. For an Entity applying to become a Participant or ------------------- any continuing Participant that the Management Committee reasonably determines may fail to meet its financial obligations under the Agreement, the Management Committee may require reasonable credit review procedures which shall be made in accordance with standard commercial practices. In addition, the Management Committee may prescribe for such Entity or Participant a requirement that the Entity or Participant provide and maintain in effect an irrevocable letter of credit as security to meet its responsibilities and obligations under the Agreement, or an alternative form of security proposed by the Entity or Participant and acceptable to the Management Committee and consistent with commercial practices established by the Uniform Commercial Code that protects the Participants against the risk of non-payment.