Standards Governing Initial Determinations of Creditworthiness Sample Clauses

Standards Governing Initial Determinations of Creditworthiness. In addition to the creditworthiness requirements specified in the Third Party Supplier Agreement, if and only if Supplier is performing Consolidated Billing under this Agreement, the Company will determine whether Supplier is creditworthy. The Company shall make this determination in accordance with the guidelines set forth herein, subject to the Supplier’s right to submit to the Board for resolution any dispute concerning Company’s requirements if Supplier believes such requirements are inappropriately based or assessed. Company shall not be obligated to execute this Agreement until said dispute is resolved by a final, non-appealable Order of the Board. With respect to creditworthiness, Supplier must demonstrate that it has, and maintains, a minimum “BBB” or equivalent long term unsecured credit rating from Xxxxx’x Investors Service and Standard & Poor’s Rating Services. Supplier must also provide Company with its most recently independently-audited financial statements or, if Supplier is a publicly held firm, its most recent Form 10-K and Form 10-Q. On an ongoing basis, Supplier must continue to provide Company with updated versions of all of the above, as they become available. Specifically, updated financial statements or Form 10-Ks must be provided within ninety (90) days of fiscal year-ends, and updated Form 10-Qs must be provided within forty-five (45) days of the close of each quarter that does not coincide with the end of Supplier’s fiscal year. Company may make alternative credit arrangements with a Supplier that is unable to demonstrate creditworthiness based on its credit rating. Alternative credit arrangements may include any of the following:
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Standards Governing Initial Determinations of Creditworthiness. RECO will be guided by the standards that it employs in routine commercial transactions as it makes an initial determination of whether the Supplier is creditworthy or whether the Supplier, if not creditworthy, has presented satisfactory alternative arrangements. Standards in effect in January 2005 are summarized in Appendices B1 (for Suppliers serving CIEP customers), B2 (for Suppliers serving FP customers) and B3 (for Suppliers serving both CIEP and FP customers), and are subject to modification from time to time, by RECO. The Supplier shall have the right to submit to the Board or the FERC, as appropriate, for resolution, any dispute regarding the RECO’s requirements if the Supplier believes such a requirement is inappropriately based or assessed. RECO shall not be obligated to execute this Agreement until said dispute is resolved by a final, non­appealable Order of the Board or the FERC, as appropriate. In the event that Supplier has elected to perform Consolidated Billing, Supplier will be required to satisfy the creditworthiness requirements contained in the Billing Services Agreement in addition to the creditworthiness requirements set forth herein.
Sample 1

Related to Standards Governing Initial Determinations of Creditworthiness

  • Creditworthiness Determination Duke Energy Ohio will determine the creditworthiness of an SSO Supplier or its Guarantor, if applicable, whether organized under the laws of the United States or organized under the laws of a foreign jurisdiction, based on its most recent senior unsecured debt rating (or, if unavailable, its corporate or issuer rating). Duke Energy Ohio will have full discretion, without liability or recourse to such SSO Supplier or its Guarantor, if applicable, to evaluate the evidence of creditworthiness submitted by such SSO Supplier or Guarantor. Duke Energy Ohio may re-evaluate the creditworthiness of an SSO Supplier or Guarantor from time to time, including whenever it becomes aware of an adverse change in such SSO Supplier’s or Guarantor’s credit standing. In addition, the SSO Supplier may petition Duke Energy Ohio to re-evaluate its creditworthiness whenever an event occurs that the SSO Supplier reasonably believes would improve the determination made by Duke Energy Ohio of its or its Guarantor’s creditworthiness. Duke Energy Ohio’s credit re-evaluation must be completed as soon as practicable, but in no event longer than thirty (30) days after receiving a fully documented request. Duke Energy Ohio shall provide the rationale for its determination of the Credit Limit and any resulting security requirement and such determination shall be deemed final and conclusive. Duke Energy Ohio shall perform its credit re-evaluation and associated security calculation in a non-discriminatory manner. Each SSO Supplier or its Guarantor shall provide unrestricted access to its audited financial statements; however, if audited financial statements are not available, Duke Energy Ohio may specify other types of financial statements that will be accepted. If Duke Energy Ohio determines in its sole discretion that it is unable to adequately assess an SSO Supplier’s or Guarantor’s creditworthiness or the credit rating of an SSO Supplier or its Guarantor is insufficient, such SSO Supplier shall be required to post ICR Collateral in accordance with Section 5.4(d) and Margin Collateral in accordance with Section 5.7.

  • Creditworthiness Seller, in order to satisfy itself of the ability of the Buyer to meet its obligations under the contract, may conduct periodic reasonable credit reviews in accordance with standard commercial practices. Xxxxx agrees to assist in these reviews by providing financial information and at the request of the Seller, will maintain such credit support or surety including, but not limited to, an unconditional and irrevocable letter of credit to provide adequate security for protection against the risk of nonpayment.

  • Management and Operations of the Borrower Section 4.01. The Borrower shall carry on its operations and conduct its affairs in accordance with sound administrative, financial, engineering and public utility practices under the supervision of qualified and experienced management assisted by competent staff in adequate numbers.

  • STANDARDS OF MANAGEMENT AND OPERATIONS In performing its obligations hereunder, during the term of this ESA, the Competitive Supplier shall exercise reasonable care to assure that its facilities are prudently and efficiently managed; that it employs an adequate number of competently trained and experienced personnel to carry out its responsibilities; that it delivers or arranges to deliver a safe and reliable supply of such amounts of electricity to the Point of Delivery as are required under this ESA; that it complies with all relevant industry standards and practices for the supply of electricity to Participating Consumers; and that, at all times with respect to Participating Consumers, it exercises good practice for a Competitive Supplier and employs Commercially Reasonable skills, systems and methods available to it.

  • Management and Financial Controls At all times, the School shall maintain appropriate governance and management procedures and financial controls which shall include, but not be limited to: (a) budgets, (b) accounting policies and procedures, (c) payroll procedures,

  • FINANCIAL IMPLICATIONS There are no budget implications. The applicant will be responsible for all costs, expenses, liabilities and obligations imposed under or incurred in order to satisfy the terms of this proposed development agreement. The administration of the proposed development agreement can be carried out within the approved 2019- 2020 budget and with existing resources.

  • Conditions of Eft Services (a.) Ownership of Card(s). Any Card we supply to you is our property and must be returned to us, or to any person whom we authorize to act as our agent, or to any person who is authorized to honor the Card, immediately according to instructions. The Card may be reclaimed at any time at our sole discretion without demand or notice. You cannot transfer your Card to another person.

  • Management and Operations 15.1 The Operator shall prepare an annual work programme and budget for each Calendar Year during the term of this Agreement. Each such work programme and budget shall set out in reasonable details, the work to be carried out, facilities to be purchased or created, training and employment programme, establishment, salaries and wages, social welfare schemes to be undertaken, and an estimate of the Expenditure to be incurred. The Operator shall present such work programme and budget to the Government and the Working Interest Owners before the start of each Calendar Year and thereafter provide a quarterly update on the implementation of such work programme and budget.

  • Selection of projects and financial parameters 4.1 Open calls and availability of funds (including number of calls, duration of calls, and estimated size):

  • FINANCIAL MANAGEMENT AND OVERSIGHT Measure 2a Is the school meeting financial reporting and compliance requirements?

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