Common use of Notice to Transmission Customers Clause in Contracts

Notice to Transmission Customers. The ISO shall notify all Transmission Customers in the event that a Transmission Customer is in default and shall also notify all Transmission Customers in the event that the Transmission Customer subsequently cures the default or the ISO terminates the Transmission Customer due to the default. In the event of a payment default or creditworthiness default, the ISO will disclose in its notice to Transmission Customers the approximate amount of the default as follows: Default Amount Type of Default Range Payment Creditworthiness $0 to $100,000 $100,001 to $500,000 $500,001 to $1,000,000 $1,000,001 to $5,000,000 $5,000,001 to $10,000,000 > $10,000,000 In addition, in the event of a payment default, unless otherwise precluded, the ISO will also disclose the amount and type of collateral, if any, held by the ISO to secure the defaulting Transmission Customer's obligations to the ISO.