Types of Credit Support. Where credit support must be provided under this Schedule, the types of credit support which may be provided are: (a) a bank guarantee that is in form and substance acceptable to Transpower acting reasonably, where a bank guarantee in the form of appendix 2 of this Schedule (Guarantee) will be acceptable to Transpower; (b) a letter of credit that is in form and substance acceptable to Transpower acting reasonably, where a letter of credit in the form of appendix 3 of this Schedule (Letter of Credit) will be acceptable to Transpower; (c) a third party guarantee that is in form and substance acceptable to Transpower acting reasonably, where a third party guarantee in the form of appendix 4 of this Schedule (Deed of Guarantee and Indemnity) will be acceptable to Transpower; (d) a surety bond that is in form and substance acceptable to Transpower, where a bond in the form of appendix 5 of this Schedule will be acceptable to Transpower; (e) a charge or security interest (as that term is defined in section 17 of the Personal Property Securities Act 1999) over assets acceptable to Transpower acting reasonably; (f) a cash bond; (g) any similar form of credit support acceptable to Transpower acting reasonably; or (h) any combination of the above. The Customer will determine which of the above type or types of credit support is to be provided.
Appears in 4 contracts
Samples: Benchmark Agreement, Benchmark Agreement, Benchmark Agreement
