Common use of CREDIT AND PERFORMANCE SECURITY Clause in Contracts

CREDIT AND PERFORMANCE SECURITY. Each SSO Supplier agrees that it will meet the creditworthiness standards of this Article 5 at all times during the Term and will inform Duke Energy Ohio immediately of any changes in its credit rating or financial condition. Without limiting the foregoing, each SSO Supplier shall, upon the written request of Duke Energy Ohio, affirmatively demonstrate to Duke Energy Ohio in a manner satisfactory to Duke Energy Ohio its compliance with the creditworthiness standards set forth hereunder. Duke Energy Ohio may establish less restrictive creditworthiness standards under this Article 5 in a non-discriminatory manner. During the Term, each SSO Supplier or its Guarantor, if applicable, that has been granted an Independent Credit Threshold or a Credit Limit agrees to provide as soon as practicable (i) after the end of each fiscal year, complete annual audited financial statements (including footnotes), and (ii) after the end of each fiscal quarter, complete quarterly unaudited financial statements (including footnotes). If such financial statements are readily and timely available from the SSO Supplier’s website or other public website such as xxx.xxx.xxx, then this requirement shall be deemed to be satisfied.

CREDIT AND PERFORMANCE SECURITY. Each SSO The XXXX Supplier agrees that it will meet the creditworthiness standards of this Article 5 at all times during the Term and will inform Duke Energy AEP Ohio immediately of any changes in its credit rating or financial condition. Without limiting the foregoing, each SSO the XXXX Supplier shall, upon the written request of Duke Energy AEP Ohio, affirmatively demonstrate to Duke Energy AEP Ohio in a manner satisfactory to Duke Energy AEP Ohio its compliance with the creditworthiness standards set forth hereunder. Duke Energy AEP Ohio may establish less restrictive creditworthiness standards under this Article 5 in a non-non- discriminatory manner. During the Term, each SSO the XXXX Supplier or its Guarantor, if applicable, that has been granted an Independent Credit Threshold or a Credit Limit agrees to provide as soon as practicable (i) after the end of each fiscal year, complete annual audited financial statements (including footnotes), and (ii) after the end of each fiscal quarter, complete quarterly unaudited financial statements (including footnotes). If such financial statements are readily and timely available from the SSO XXXX Supplier’s website or other public website such as xxx.xxx.xxx, then this requirement shall be deemed to be satisfied.

CREDIT AND PERFORMANCE SECURITY. Each SSO The XXXX Supplier agrees that it will meet the creditworthiness standards of this Article 5 at all times during the Term and will inform Duke Energy Ohio immediately of any changes in its credit rating or financial condition. Without limiting the foregoing, each SSO the XXXX Supplier shall, upon the written request of Duke Energy Ohio, affirmatively demonstrate to Duke Energy Ohio in a manner satisfactory to Duke Energy Ohio its compliance with the creditworthiness standards set forth hereunder. Duke Energy Ohio may establish less restrictive creditworthiness standards under this Article 5 in a non-discriminatory manner. During the Term, each SSO the XXXX Supplier or its Guarantor, if applicable, that has been granted an Independent Credit Threshold or a Credit Limit agrees to provide as soon as practicable (i) after the end of each fiscal year, complete annual audited financial statements (including footnotes), and (ii) after the end of each fiscal quarter, complete quarterly unaudited financial statements (including footnotes). If such financial statements are readily and timely available from the SSO XXXX Supplier’s website or other public website such as xxx.xxx.xxx, then this requirement shall be deemed to be satisfied.

CREDIT AND PERFORMANCE SECURITY. Each SSO Supplier agrees that it will meet the creditworthiness standards of this Article 5 at all times during the Term and will inform Duke Energy AEP Ohio immediately of any changes in its credit rating or financial condition. Without limiting the foregoing, each SSO Supplier shall, upon the written request of Duke Energy AEP Ohio, affirmatively demonstrate to Duke Energy AEP Ohio in a manner satisfactory to Duke Energy AEP Ohio its compliance with the creditworthiness standards set forth hereunder. Duke Energy AEP Ohio may establish less restrictive creditworthiness standards under this Article 5 in a non-non- discriminatory manner. During the Term, each SSO Supplier or its Guarantor, if applicable, that has been granted an Independent Credit Threshold or a Credit Limit agrees to provide as soon as practicable (i) after the end of each fiscal year, complete annual audited financial statements (including footnotes), and (ii) after the end of each fiscal quarter, complete quarterly unaudited financial statements (including footnotes). If such financial statements are readily and timely available from the SSO Supplier’s website or other public website such as xxx.xxx.xxx, then this requirement shall be deemed to be satisfied.