Common use of Creditworthiness Clause in Contracts

Creditworthiness. By the earlier of (i) thirty (30) Calendar Days prior to the due date for Customer’s first payment under the payment schedule specified in Appendix A or (ii) the first date specified in Appendix A for the ordering of equipment by Transmission Owner for installing the CUU, each Customer shall provide Transmission Owner with a form of irrevocable security reasonably acceptable to Transmission Owner as an adequate assurance of creditworthiness for Customer’s proportionate share of responsibility for the CUU. A Customer’s irrevocable security will not be refunded in the event Customer is terminated from the Agreement, except as provided in this Article. Pursuant to Article 2.2.5, MISO may restudy any time that a Customer is terminated from the Agreement. If a Customer fails to provide acceptable irrevocable security pursuant to Article 6.1, Customer will be terminated from this Agreement, its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue, and Transmission Provider may declare a breach under Customer’s related GIA, if any, and seek termination thereof. If a Customer is terminated from the Agreement, Transmission Owner will retain the irrevocable security of all remaining Customers, and Transmission Provider will determine whether to add additional interconnection customer(s) as parties to this Agreement pursuant to Article 2.2.5. Additionally, whether or not an additional Customer is added to this Agreement, Transmission Provider shall adjust the proportionate share of the costs to be borne by the remaining Customers when a Customer has been terminated from this Agreement. If the addition of a Customer to the Agreement results in a reduction of cost estimates, the cost estimates of all remaining Customers will be reduced proportionately. It is expressly understood that an Customers’ proportionate share of the responsibility for the costs of the CUU may increase or decrease. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate set forth in Appendix A, any such Customer whose proportionate share of the cost estimate increases by more than twenty-five (25) percent may withdraw from the Agreement within thirty (30) Calendar Days of the date that Transmission Provider notifies Customer of the redetermination of its proportionate share of the cost responsibility. If a Customer withdraws pursuant to this option, the unused portion of its irrevocable security will be released or refunded, but Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If a Customer’s withdrawal under this option causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent from the estimate in Appendix A, that Customer may also withdraw pursuant to this paragraph. When a Customer withdraws from the Agreement as a result of an increase of more than twenty-five (25) percent in its cost estimate pursuant to the paragraph above, Transmission Provider will notify all Parties to the Agreement of the withdrawal and will provide a revised cost estimate of each Customer’s responsibility for the cost of the CUU within thirty (30) Calendar Days. Within thirty (30) Calendar Days of receiving such notification, each remaining Customer(s) must either withdraw or submit additional security necessary to cover its revised cost responsibility. Failure to provide such additional security will be a Breach of the Agreement and any Customer that does not provide additional security within thirty (30) Calendar Days of receiving the cost allocation notice will be deemed withdrawn from the Agreement and Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate provided in response to the prior withdrawal, XXXX will perform a restudy of the CUU unless the parties agree to proceed without a restudy.

Creditworthiness. By the earlier of (i) thirty (30) Calendar Days prior to the due date for Customer’s first payment under the payment schedule specified in Appendix A or (ii) the first date specified in Appendix A for the ordering of equipment by Transmission Owner for installing the CUUShared Network Upgrade, each Customer shall provide Transmission Owner with a form of irrevocable security reasonably acceptable to Transmission Owner as an adequate assurance of creditworthiness for Customer’s proportionate share of responsibility for the CUUShared Network Upgrade. A Customer’s irrevocable security will not be refunded in the event Customer is terminated from the this Agreement, except as provided in this Article. Pursuant to Article 2.2.5, MISO Transmission Provider may conduct a restudy any time that a Customer is terminated from the this Agreement. If a Customer fails to provide acceptable irrevocable security pursuant to Article 6.1, Customer will be terminated from this Agreement, its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue, and Transmission Provider may declare a breach under Customer’s related GIA, if any, GIA and seek termination thereof. If a Customer is terminated from the this Agreement, Transmission Owner will retain the irrevocable security of all remaining Customers, and Transmission Provider will determine whether to add additional interconnection customer(s) as parties to this Agreement pursuant to Article 2.2.5. Additionally, whether or not an additional Customer is added to this Agreement, Transmission Provider shall adjust the proportionate share of the costs to be borne by the remaining Customers when a Customer has been terminated from this Agreement. If the addition of a Customer to the this Agreement results in a reduction of cost estimates, the cost estimates of all remaining Customers will be reduced proportionately. It is expressly understood that an a Customers’ proportionate share of the responsibility for the costs of the CUU Shared Network Upgrade may increase or decrease. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate set forth in Appendix A, any such Customer whose proportionate share of the cost estimate increases by more than twenty-five (25) percent may withdraw from the Agreement within thirty (30) Calendar Days of the date that Transmission Provider notifies Customer of the redetermination of its proportionate share of the cost responsibility. If a Customer withdraws pursuant to this option, the unused portion of its irrevocable security will be released or refunded, but Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If a Customer’s withdrawal under this option causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent from the estimate in Appendix A, that Customer may also withdraw pursuant to this paragraph. When a Customer withdraws from the Agreement as a result of an increase of more than twenty-five (25) percent in its cost estimate pursuant to the paragraph above, Transmission Provider will notify all Parties to the Agreement of the withdrawal and will provide a revised cost estimate of each Customer’s responsibility for the cost of the CUU within thirty (30) Calendar Days. Within thirty (30) Calendar Days of receiving such notification, each remaining Customer(s) must either withdraw or submit additional security necessary to cover its revised cost responsibility. Failure to provide such additional security will be a Breach of the Agreement and any Customer that does not provide additional security within thirty (30) Calendar Days of receiving the cost allocation notice will be deemed withdrawn from the Agreement and Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate provided in response to the prior withdrawal, XXXX will perform a restudy of the CUU unless the parties agree to proceed without a restudy.five

Creditworthiness. By the earlier of (i) thirty (30) Calendar Days prior to the due date for Customer’s first payment under the payment schedule specified in Appendix A or (ii) the first date specified in Appendix A for the ordering of equipment by Transmission Owner for installing the CUUShared Network Upgrade, each Customer shall provide Transmission Owner with a form of irrevocable security reasonably acceptable to Transmission Owner as an adequate assurance of creditworthiness for creditworthiness. Such security shall be in an amount sufficient to cover the Customer’s proportionate share of responsibility for the CUUShared Network Upgrade as specified in Appendix A and shall be reduced on a dollar-for-dollar basis for payments made to Transmission Owner for the Shared Network Upgrade. A Customer’s irrevocable security will not be refunded in the event Customer is terminated from the this Agreement, except as provided in this Article. Pursuant to Article 2.2.5, MISO Transmission Provider may conduct a restudy any time that a Customer is terminated from the this Agreement. If a Customer fails to provide acceptable irrevocable security pursuant to Article 6.1, Customer will be in Breach of this Agreement, and if not cured within thirty (30) Calendar Days pursuant to Article 9.2, Customer will be terminated from this Agreement, its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue, and Transmission Provider may declare a breach under Customer’s related GIA, if any, GIA and seek termination thereof. If a Customer is terminated from the this Agreement, Transmission Owner will retain the irrevocable security of all remaining Customers, and Transmission Provider will determine whether to add additional interconnection customer(s) as parties to this Agreement pursuant to Article 2.2.5. Additionally, whether or not an additional Customer is added to this Agreement, Transmission Provider shall adjust the proportionate share of the costs to be borne by the remaining Customers pursuant to Article 2.2.3 when a Customer has been terminated from this Agreement. If the addition of a Customer to the this Agreement results in a reduction of cost estimates, the cost estimates of all remaining Customers will be reduced proportionately. It is expressly understood that an a Customers’ proportionate share of the responsibility for the costs of the CUU Shared Network Upgrade may increase or decrease. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate set forth in Appendix A, any such Customer whose proportionate share of the cost estimate increases by more than twenty-five (25) percent may withdraw from the Agreement within thirty (30) Calendar Days of the date that Transmission Provider notifies Customer of the redetermination of its proportionate share of the cost responsibility. If a Customer withdraws pursuant to this option, the unused portion of its irrevocable security will be released or refunded, but Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If a Customer’s withdrawal under this option causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent from the estimate in Appendix A, that Customer may also withdraw pursuant to this paragraph. When a Customer withdraws from the Agreement as a result of an increase of more than twenty-five (25) percent in its cost estimate pursuant to the paragraph above, Transmission Provider will notify all Parties to the Agreement of the withdrawal and will provide a revised cost estimate of each Customer’s responsibility for the cost of the CUU within thirty (30) Calendar Days. Within thirty (30) Calendar Days of receiving such notification, each remaining Customer(s) must either withdraw or submit additional security necessary to cover its revised cost responsibility. Failure to provide such additional security will be a Breach of the Agreement and any Customer that does not provide additional security within thirty (30) Calendar Days of receiving the cost allocation notice will be deemed withdrawn from the Agreement and Transmission Provider may declare a breach under Customer’s related GIA, if any, and its Interconnection Request will be withdrawn from the Transmission Provider’s interconnection queue. If such cost adjustment causes the cost estimate for any of the remaining Customers to increase by more than twenty-five (25) percent above the cost estimate provided in response to the prior withdrawal, XXXX will perform a restudy of the CUU unless the parties agree to proceed without a restudy.five