Supplier Credit. Supplier has provided a guaranty from ___________________________ in the amount of __________________________________ ("Guaranty"). If Customer has reasonable grounds to believe that Supplier will not be able to perform under this Agreement (i) due to Customer's good faith concern about the degradation of the Supplier’s or its Guarantor's financial condition (“Downgrade Event”) or (ii) due to Supplier’s lack of performance in meeting its payment obligations to the TDSP or maintaining the credit standards required of a REP, Customer may require Alternative Performance Assurance from Supplier to ensure that Supplier will be able to perform under this Agreement. If Alternative Performance Assurance is required from Supplier due to a Downgrade Event and/or due to Supplier's lack of performance as set forth above, and Supplier has not previously been required to post Alternative Performance Assurance, then if Supplier can show that it or its Guarantor has a senior, unsecured credit rating of Standard & Poor’s (BBB-) or Xxxxx’x (Baa3) or better, or that it has a total net worth of $25,000,000 or more as shown through independent, third party audited financial statements, then no Alternative Performance Assurance will be required from Supplier for so long as it meets such criteria. If Supplier is ever required to post Alternative Performance Assurance, Supplier shall provide and maintain in favor of Customer until there are no remaining obligations of Supplier to Customer under this Agreement or three (3) months after expiration or termination of this Agreement, whichever occurs first, Alternative Performance Assurance in the amount required by Customer not to exceed: (Current Retail Market Value) minus Contract Value, so long as the Current Retail Market Value is greater than the Contract Value (the "Maximum Required Amount"). Once Alternative Performance Assurance is required hereunder, Customer may require that the amount of Alternative Performance Assurance be increased to an amount not to exceed the Maximum Required Amount and Supplier may require Customer to return any Alternative Performance Assurance posted with Customer to the extent the posted Alternative Performance Assurance exceeds the Maximum Required Amount, in each case no more frequently than any date that the amount of the increase or decrease of the required Alternative Performance Assurance would equal or exceed $1,000,000 calculated as of such date of determination. Notwithstanding the forego...
Supplier Credit. Credit for MBE/WBE participation shall be granted for MWBE firms performing a commercially useful business function according to custom and practice in the industry. “Commercially useful functions” normally include:
i. Providing technical assistance to a purchaser prior to a purchase, during installation, and after the supplies or equipment are placed in service;
ii. Manufacturing or being the first tier below the manufacturer of supplies or equipment; or
iii. Providing functions other than merely accepting and referring requests for supplies or equipment to another party for direct shipment to a contractor. MBE/WBE goal crediting:
i. For MWBE suppliers who are manufacturers, fabricators, or official manufacturer’s representatives who are warehousing such goods, up to 100% of the MBE/WBE objective may be credited.
ii. For non-manufacturer suppliers, up to 25% of the MBE/WBE objective may be credited.
iii. No credit will be granted for MBEs and/or WBEs acting merely as a passive conduit of funds from one firm to another.
Supplier Credit. Credit for MBE/WBE participation shall be granted for MWBE firms performing a commercially useful business function according to custom and practice in the industry. “Commercially useful functions” normally include:
