Common use of Other Security Arrangements Clause in Contracts

Other Security Arrangements. The Company at its discretion may deem appropriate, from time to time, other forms of security other than a Performance Bond with an Approved Credit Rating. Alternative arrangements will be considered where: 4.3.1 the Service Provider’s parent company has a suitable credit rating; 4.3.2 the Service Provider’s parent company is of significant commercial standing; or 4.3.3 where the ownership structure is appropriate such as a semi state company. These alternative arrangements can take the form of: (i) a Letter of Credit; (ii) a guarantee in such form as is reasonably acceptable to the Company issued by an entity with an Approved Credit Rating (a “Qualifying Guarantee”); (iii) a cash deposit in an interest bearing account in the name of the Company at a bank that satisfies the criteria as outlined in the definition of Letter of Credit (an “Escrow Account”). Interest on the Escrow Account will accrue for the benefit of the Service Provider, after the deduction of any bank charges or tax; or (iv) another deposit arrangement deemed acceptable by the Company.

Other Security Arrangements. The Company at its discretion may deem appropriate, from time to time, other forms of security other than a Performance Bond with an Approved Credit Rating. Alternative arrangements will be considered at the Company’s discretion, including where: 4.3.1 the Service Provider’s parent company has a suitable credit rating; 4.3.2 the Service Provider’s parent company is of significant commercial standing; or 4.3.3 where the ownership structure is appropriate such as a semi semi-state company. These alternative arrangements can take the form of: (i) a Letter of Credit; (ii) a guarantee in such form as is reasonably acceptable to the Company issued by an entity with an Approved Credit Rating (a “Qualifying Guarantee”); (iii) a cash deposit in an interest interest-bearing account in the name of the Company at a bank that satisfies the criteria as outlined in the definition of Letter of Credit (an “Escrow Account”). Interest on the Escrow Account will accrue for the benefit of the Service Provider, Provider after the deduction of any bank charges or tax; or (iv) another deposit arrangement deemed acceptable by the Company.

Other Security Arrangements. The Company at its discretion may deem appropriate, from time to time, other forms of security other than a Performance Bond with an Approved Credit Rating. Alternative arrangements will be considered where: 4.3.1 the Service Provider’s parent company has a suitable credit rating; 4.3.2 the Service Provider’s parent company is of significant commercial standing; or 4.3.3 where the ownership structure is appropriate such as a semi semi-state company. These alternative arrangements can take the form of: (i) a Letter of Credit; (ii) a guarantee in such form as is reasonably acceptable to the Company issued by an entity with an Approved Credit Rating (a “Qualifying Guarantee”); (iii) a cash deposit in an interest interest-bearing account in the name of the Company at a bank that satisfies the criteria as outlined in the definition of Letter of Credit (an “Escrow Account”). Interest on the Escrow Account will accrue for the benefit of the Service Provider, Provider after the deduction of any bank charges or tax; or (iv) another deposit arrangement deemed acceptable by the Company.