Requirement to provide Security on certain events occurring
(a) the Operator ceases to have an Acceptable Credit Rating;
(b) the Operator does not pay any amount payable under this Agreement by the due date for payment and does not pay that amount (together with any interest) within a further period of five Business Days after Aurizon Network gives notice to the Operator requiring payment; or
(c) Aurizon Network considers, acting reasonably, that the Operator may:
(i) no longer be financially sound;
(ii) no longer be able to meet its debts as and when they fall due; or
(iii) not otherwise be capable of performing its obligations under this Agreement, then the Operator must, within 10 Business Days after being required to do so by Aurizon Network, deliver Security to Aurizon Network which satisfies the requirements of this clause 9 for an amount of not less than the Security Amount.
Requirement to provide Security on certain events occurring
Requirement to provide Security. (a) Before Transportation Services are provided to a User any User who does not meet Acceptable Credit Criteria must provide security for the User’s performance under this agreement. The security may be in the form of either:
(i) payment by the User to Country Energy Gas of a Bond which is reasonably estimated by Country Energy Gas to represent not less than 90 days of charges for the Contract Transportation Service and the Volume Transportation Service under this agreement (the Bond Amount); or
(ii) the provision of Credit Support.
(b) Country Energy Gas may require the Prospective User to provide information to enable Country Energy Gas to assess whether the Prospective User does meet Acceptable Credit Criteria. Such information will be sought consistent with the provisions of the Privacy Xxx 0000.
Requirement to provide Security for additional Train Service Type
(a) at any time during the Term:
(i) schedule 2 is varied to include an additional Train Service Type; or
(ii) the Train Service Description for an existing Train Service Type is varied;
(b) at the time of the variation referred to in clause 6.4
(a) the End UserAccess Holder is required to provide Security under this clause 6; and
(c) at the time of the variation referred to in clause 6.4
(a) the Security provided by the End UserAccess Holder to Aurizon Network under this clause 6 is for an amount which is less than the amount which will be the Security Amount on and from, as applicable:
(i) the Train Service Commitment Date for that additional Train Service Type; or
(ii) the date the variation to the Train Service Description for that existing Train Service Type takes effect, having regard to the additional Access Charges payable, in the future, for that Train Service Type, then the End UserAccess Holder must promptly (and in any event within 10 Business Days before the applicable date specified in clause 6.4(c)(i) or 6.4(c)(ii)) deliver to Aurizon Network:
(d) additional Security; or
(e) replacement Security, which satisfies the requirements of this clause 6 so that Security is provided and maintained for an aggregate amount of not less than the amount which will be the Security Amount on and from the applicable date specified in clause 6.4(c)(i) or 6.4(c)(ii) (having regard to the additional Access Charges payable, in the future, for that Train Service Type).
Requirement to provide Security for the Security Amount
Requirement to provide Security on certain events occurring
(a) If at any time during the Term when the Access Holder is not required to provide Security to Aurizon Network under this clause 6:
(i) the Access Holder does not pay any amount (together with any interest) payable under this Agreement and which is not the subject of a Dispute by the due date for payment or, where there is no due date for payment, within five Business Days after Aurizon Network gives written notice to the Access Holder requiring payment; or
(ii) Aurizon Network considers (acting reasonably) that the Access Holder may:
(A) no longer be financially sound;
(B) no longer be able to meet its debts as and when they fall due; or
(C) not otherwise be capable of performing its obligations under this Agreement, then the Access Holder must, within 10 Business Days after being required to do so by Aurizon Network, deliver Security to Aurizon Network which satisfies the requirements of this clause 6 for an amount of not less than the Security Amount.
(b) In considering whether to require the Access Holder to provide Security under clause 6.2(a)(ii), Aurizon Network may take into consideration:
(i) expected future payment obligations under this Agreement and the financial performance of the Access Holder; and
(ii) the Access Holder ceasing to have an Acceptable Credit Rating.
Requirement to provide Security on certain events occurring
(a) the End User ceases to have an Acceptable Credit Rating;
(b) the End User does not pay any amount payable under this Agreement by the due date for payment and does not pay that amount (together with any interest) within a further period of five Business Days after Aurizon Network gives notice to the End User requiring payment; or
(c) Aurizon Network considers, acting reasonably, that the End User may:
