Common use of Credit Approval and Deposits Clause in Contracts

Credit Approval and Deposits. TDC reserves the right to carry out a KYC and credit check of Customer at any time prior to acceptance of a Service Order Form and may request that Customer provide sufficient information relating to its credit, financial and other information as TDC may reasonably require to confirm Customer's and its representatives' bona fides in accordance with customary standards. Customer hereby authorizes TDC to obtain information about the Customer’s commercial activities and financial condition from third parties, including, without limitation, banks, credit reporting agencies and other businesses that provide like information. Upon TDC’s request, Customer will make a deposit or provide other security (the "Security Deposit") for the payment of charges as specified by TDC, in an amount equal to three (3) times the monthly recurring charge ("MRC") plus any non-recurring charge ("NRC") agreed upon under the Service Order Form as a condition to TDC’s acceptance of any Service Order Form (the “Initial Payment”). The amount of the required Security Deposit may be increased by TDC, at its election, upon the occurrence of: (a) an authorized increase by TDC of an MRC or NRC in accordance with the terms hereof or of the applicable Service Order Form, or (b) Customer's failure to pay an MRC or NRC within five (5) Business Days of the due date thereof for two (2) subsequent months. The Security Deposit will be held by TDC as security for payment of the Service fees and Supplemental Fees and may be drawn against to cover any outstanding MRC or NRC obligations not satisfied by the due date thereof. Customer shall be required to replenish the Security Deposit following any such draw down or pursuant to subsections (a) or (b) above not later than five (5) Business Days following TDC's written request for such additional funds. When Service to Customer is terminated or expired, the amount of the Security Deposit (less deductions for MRCs, NRCs and other obligations owed by Customer to TDC) will be credited to Customer’s account and any remaining credit balance will be refunded within thirty (30) days of such termination. Customer acknowledges and agrees that any failure by it to comply with any request made by TDC under this Section shall constitute a material breach of this Agreement.

Credit Approval and Deposits. TDC reserves The obligation to provide Services is contingent upon credit approval by McLeodUSA, and Customer's acceptance of the right McLeodUSA initial and continuing credit approval procedures and policies. Upon request Customer shall deliver to carry out McLeodUSA information concerning Customer's operations necessary to make the appropriate credit determination. McLeodUSA may require a KYC and credit check of Customer at any time Deposit prior to acceptance commencement of Services: (a) as a Service Order Form and may request that Customer provide sufficient information relating to condition for its credit, financial and other information as TDC may reasonably require to confirm Customer's and its representatives' bona fides in accordance with customary standards. Customer hereby authorizes TDC to obtain information about the Customer’s commercial activities and financial condition from third parties, including, without limitation, banks, credit reporting agencies and other businesses that provide like information. Upon TDC’s request, Customer will make a deposit signing this Agreement or provide other security providing Services; (the "Security Deposit"b) for the payment of charges as specified by TDC, in an amount equal to three (3) times the monthly recurring charge ("MRC") plus any non-recurring charge ("NRC") agreed upon under the Service Order Form as a condition to TDC’s acceptance its continuation of any Service Order Form Services, but only when Customer's consumption of Services materially exceeds Customer's anticipated use; (the “Initial Payment”). The amount c) when such Deposit is required in order to secure Customer's anticipated use; (d) when such Deposit is required in order to secure Customer's continued payment obligation, which Deposit shall be held by McLeodUSA as security for payment of the required Security Deposit may be increased by TDC, at its election, upon the occurrence of: (a) an authorized increase by TDC of an MRC or NRC in accordance with the terms hereof or of the applicable Service Order Form, charges; or (be) at anytime during the term of this Agreement, if in its reasonable discretion, Customer's failure to pay financial condition changes in an MRC or NRC adverse, material manner. Requests for Deposit must be honored within five (5) Business Days business days, or McLeodUSA may terminate this Agreement without liability. If this Agreement, or any of the Services provided herein has been terminated, the Deposit shall be applied to all charges and other amounts then due date thereof for two (2) subsequent monthsMcLeodUSA. The Security Deposit will be held by TDC as security for payment McLeodUSA agrees to refund the excess portion of the Service fees and Supplemental Fees and may be drawn against to cover any outstanding MRC or NRC obligations not satisfied by the due date thereof. Customer shall be required to replenish the Security Deposit following any such draw down or pursuant to subsections (a) or (b) above not later than five (5) Business Days following TDC's written request for such additional funds. When Service to Customer is terminated or expiredDeposit, the amount of the Security Deposit (less deductions for MRCsif any, NRCs and other obligations owed by Customer to TDC) will be credited to Customer’s account and any remaining credit balance will be refunded within thirty (30) days following final settlement of such terminationCustomer's account. The refunding or crediting of the Deposit in no way relieves Customer acknowledges from complying with all terms and agrees that provisions contained in this Agreement or from tendering payments when due. McLeodUSA reserves the right to deny any failure by it Customer order for Services which, in its reasonable discretion, exceeds Customer's ability to comply with any request made by TDC under this Section shall constitute a material breach of this Agreementpay.

Credit Approval and Deposits. TDC reserves This Agreement is contingent upon credit verification and approval of the right Customer by FIRE DOG. Customer shall provide FIRE DOG with true and correct credit information requested by FIRE DOG. Customer authorizes FIRE DOG to carry out a KYC make inquiries and to receive information about Customer’s credit check of Customer at any time prior history from others and to acceptance of a Service Order Form enter this information in Customer’s records and to disclose this information to appropriate third parties for reasonable business purposes. FIRE DOG, in its sole discretion, may request that Customer provide sufficient information relating to its creditdeny the Services based upon an unsatisfactory credit history, financial or may condition the Services, which may include requiring (i) pre-payment for Services and other charges, and/or (ii) a security deposit, valid credit card on file or bank account information as TDC may reasonably require (EFT) to confirm Customer's secure return of equipment and its representatives' bona fides in accordance with customary standards. Customer hereby authorizes TDC to obtain information about the Customer’s commercial activities and financial condition from third parties, including, without limitation, banks, credit reporting agencies payment for Services and other businesses that provide like informationcharges. Upon TDC’s requestAny cash deposit will not, Customer will make a deposit or provide other security (the "Security Deposit") for the payment of charges as specified unless explicitly required by TDClaw, in an amount equal to three (3) times the monthly recurring charge ("MRC") plus any non-recurring charge ("NRC") agreed upon under the Service Order Form as a condition to TDC’s acceptance of any Service Order Form (the “Initial Payment”). The amount of the required Security Deposit may be increased by TDC, at its election, upon the occurrence of: (a) an authorized increase by TDC of an MRC or NRC in accordance with the terms hereof or of the applicable Service Order Form, or (b) Customer's failure to pay an MRC or NRC within five (5) Business Days of the due date thereof for two (2) subsequent months. The Security Deposit will bear interest and shall be held by TDC FIRE DOG as security for payment of Customer's charges. Customer understands and agrees that EFT’s cannot be provided solely for security purposes. EFT’s provided for security purposes will also automatically deduct the Service full balance due on Customer’s Account on a monthly basis. By providing a cash security deposit, or a credit card or EFT number to FIRE DOG, Customer authorizes FIRE DOG to charge against the credit card or EFT or withdraw from any security deposit or account, for: (i) the repair cost or replacement value (as determined by FIRE DOG) of all FIRE DOG Equipment that is not returned to FIRE DOG undamaged within ten (10) business days after disconnection of Service; and (ii) amounts due to FIRE DOG for Services, fees and Supplemental Fees and may be drawn against to cover any outstanding MRC or NRC obligations not satisfied by the due date thereofother charges. Customer shall will be refunded the balance of any cash security deposit (without interest unless otherwise required to replenish the Security Deposit following any such draw down by law), and all or pursuant to subsections (a) or (b) above not later than five (5) Business Days following TDC's written request for such additional funds. When Service to Customer is terminated or expired, a portion of the amount of the Security Deposit (less deductions for MRCs, NRCs and other obligations owed by Customer to TDC) will be credited charged to Customer’s account credit card or EFT for FIRE DOG Equipment, if payment has been made for all amounts due on Customer’s Account and any remaining credit balance Customer returns the FIRE DOG Equipment undamaged. Unless otherwise required by applicable law, refunds of less than $1.00 will only be refunded within thirty (30) days of such termination. paid upon Customer acknowledges and agrees that any failure by it to comply with any request made by TDC under this Section shall constitute a material breach of this Agreementrequest.