Common use of Credit Standards Clause in Contracts

Credit Standards. All sales hereunder during the term of this ---------------- Agreement shall be subject to appropriate review and approval by Seller's Credit Department. Buyer agrees to provide information as reasonably required to Seller's Credit Department to effect a proper evaluation. Without limiting the above, Seller may suspend deliveries under this Agreement if Buyer (a) admits that it is unable to pay its debts as they become due, (b) applies for or agrees to the appointment of a receiver or trustee in liquidation of it or its properties, (c) makes a general assignment for the benefit of creditors, (d) files a voluntary petition in bankruptcy or a petition seeking reorganization or an arrangement with creditors under any bankruptcy law, (e) is a Party against whom a petition under any bankruptcy law is filed and such Party admits the material allegations in such petition filed against it, (f) is adjudicated as bankrupt under a bankruptcy law or (g) fails to meet the credit standards set forth in Tennessee's tariff.