Common use of Requirement to provide Security on certain events occurring Clause in Contracts

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) 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: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) If at any time during the Term when the Access Holder End User is not required to provide Security to Aurizon Network under this clause 6: (ia) the Access Holder 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) payable under this Agreement and which is not the subject within a further period 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 End User requiring payment; or (iib) Aurizon Network considers (considers, acting reasonably) , that the Access Holder End User may: (Ai) no longer be financially sound; (Bii) no longer be able to meet its debts as and when they fall due; or (Ciii) not otherwise be capable of performing its obligations under this Agreement, then the Access Holder End User 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. (bc) In considering whether to require The Parties acknowledge and agree that, for the Access Holder to provide Security under purposes of clause 6.2(a)(ii)6.2(b) and without limitation, it is reasonable for Aurizon Network may to 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 consideration if an End User, having held an Acceptable Credit RatingRating at the Commencement Date or during the Term, thereafter ceases to hold an Acceptable Credit Rating provided that such matter shall not negate the requirement of this clause 6.2(c) on Aurizon Network to act reasonably in all the circumstances in order to form the relevant consideration under clause 6.2(b).

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, or 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) 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, or 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.