Common use of Release of Credit Support Clause in Contracts

Release of Credit Support. Transpower is to release any credit support provided by the Customer under clause 2 (including repaying to the Customer the balance of any cash bond and any interest under clause 6(d)) within 10 Business Days from the date of: (a) the Customer having obtained an Acceptable Credit Rating and providing notice to Transpower that it has obtained an Acceptable Credit Rating; (b) the Customer providing alternative credit support that meets the requirements of this Schedule in substitution for credit support provided by the Customer under clause 2; or (c) this Agreement terminating and all amounts due under this Agreement on the part of the Customer being paid.

Release of Credit Support. Transpower is to release any credit support provided by the Customer under clause 2 8.2 or 8.5 (including repaying to the Customer the balance of any cash bond and any interest under clause 6(d)8.6(c) within 10 five Business Days from the date of: (a) the Customer having obtained an Acceptable Credit Rating and providing notice to Transpower that it has obtained obtaining an Acceptable Credit Rating; (b) the Customer providing alternative credit support that meets the requirements of this Schedule clause 8 in substitution for credit support provided by the Customer under clause 28.2 or 8.5; or (c) this Agreement terminating and all amounts due under this Agreement on the part of the Customer being paid.

Release of Credit Support. Transpower is to release any credit support provided by the Customer under clause 2 (including repaying to the Customer the balance of any cash bond and any interest under clause 6(d)) within 10 Business Days from the date of: (a) the Customer having obtained an Acceptable Credit Rating and providing notice to Transpower that it has obtained an Acceptable Credit Rating; (b) the Customer providing alternative credit support that meets the requirements of this Schedule in substitution for credit support provided by the Customer under clause 2; or (c) this Agreement terminating and all amounts due under this Agreement on the part of the Customer being paid.