Common use of Financial Status Clause in Contracts

Financial Status. Delivery of Services is subject to credit approval. Customer shall provide BluIP with credit information as requested. Customer hereby consents to BluIP’s retrieval of Customer’s credit information from third parties. As a condition to BluIP’s provisioning of or continuation of Services, BluIP may require that Customer make a deposit or pre-payment, reasonably acceptable to BluIP, BluIP shall hold any deposit or pre-payment provided by Customer under this Section (Financial Status) as security for payment of Customer’s charges without any responsibility for paying Customer interest on any amounts held. Within ninety (90) days of the termination date of all Services, the amount of the deposit or pre-payment will be credited to Customer’s account; any remaining credit balance will be refunded. If at any time during the term of the Agreement there is a detrimental material change in Customer’s financial status, as determined in BluIP’s sole and reasonable discretion, BluIP has the right to modify the payment timing or terminate any credit availability extended to Customer under the Agreement. In the event Customer does not fully remit payment in accordance with the terms of the Agreement, including any such modified payment timing, BluIP has the right to immediately: (a) stop or suspend all provision of the Services; and/or (b) terminate the Agreement, or in whole or in part. Without limiting any of BluIP’s rights and remedies, in the event that Customer becomes a debtor and/or a debtor in possession, whether voluntary or involuntary, in a bankruptcy proceeding under Title 11 of the United States Code, as amended from time to time (the “Bankruptcy Code”), BluIP and Customer agree that: BluIP is a Critical Vendor to Customer; Customer shall include BluIP on the list of Critical Vendors to be paid pursuant to such approved Critical Vendor program: and, that BluIP shall receive treatment under such program at least as favorable as any other Critical Vendor. In such event, Customer shall make best efforts to obtain court approval for BluIP to be deemed a Critical Vendor.

Financial Status. Delivery of Services is subject to credit approval. Customer shall provide BluIP with credit information as requested. Customer hereby consents to BluIP’s retrieval of Customer’s credit information from third parties. As a condition to BluIP’s provisioning of or continuation of Services, BluIP may require that Customer make a deposit or pre-payment, reasonably acceptable to BluIP, BluIP shall hold any deposit or pre-payment provided by Customer under this Section (Financial Status) as security for payment of Customer’s charges without any responsibility for paying Customer interest on any amounts held. Within ninety (90) days of the termination date of all Services, the amount of the deposit or pre-payment will be credited to Customer’s account; any remaining credit balance will be refunded. If at any time during the term of the Agreement there is a detrimental material change in Customer’s financial status, as determined in BluIP’s sole and reasonable discretion, BluIP has the right to modify the payment timing or terminate any credit availability extended to Customer under the Agreement. In the event Customer does not fully remit payment in accordance with the terms of the Agreement, including any such modified payment timing, BluIP has the right to immediately: (a) stop or suspend all provision of the Services; and/or (b) terminate the Agreement, or in whole or in part. Without limiting any of BluIP’s rights and remedies, in the event that Customer becomes a debtor and/or a debtor in possession, whether voluntary or involuntary, in a bankruptcy proceeding under Title 11 of the United States Code, as amended from time to time (the “Bankruptcy Code”), BluIP and Customer agree that: BluIP is a Critical Vendor to Customer; Customer shall include BluIP on the list of Critical Vendors to be paid pursuant to such approved Critical Vendor program: and, that BluIP shall receive treatment under such program at least as favorable as any other Critical Vendor. In such event, Customer shall make best efforts to obtain court approval for BluIP to be deemed a Critical Vendor.

Financial Status. Delivery of Services is subject to credit approval. Customer shall provide BluIP with credit information as requested. Customer hereby consents to BluIPXxxXX’s retrieval of Customer’s credit information from third parties. As a condition to BluIP’s provisioning of or continuation of Services, BluIP may require that Customer make a deposit or pre-payment, reasonably acceptable to BluIP, BluIP shall hold any deposit or pre-payment provided by Customer under this Section (Financial Status) as security for payment of Customer’s charges without any responsibility for paying Customer interest on any amounts held. Within ninety (90) days of the termination date of all Services, the amount of the deposit or pre-payment will be credited to Customer’s account; any remaining credit balance will be refunded. If at any time during the term of the Agreement there is a detrimental material change in Customer’s financial status, as determined in BluIP’s sole and reasonable discretion, BluIP XxxXX has the right to modify the payment timing or terminate any credit availability extended to Customer under the Agreement. In the event Customer does not fully remit payment in accordance with the terms of the Agreement, including any such modified payment timing, BluIP has the right to immediately: (a) stop or suspend all provision of the Services; and/or (b) terminate the Agreement, or in whole or in part. Without limiting any of BluIP’s rights and remedies, in the event that Customer becomes a debtor and/or a debtor in possession, whether voluntary or involuntary, in a bankruptcy proceeding under Title 11 of the United States Code, as amended from time to time (the “Bankruptcy Code”), BluIP and Customer agree that: BluIP is a Critical Vendor to Customer; Customer shall include BluIP on the list of Critical Vendors to be paid pursuant to such approved Critical Vendor program: and, that BluIP shall receive treatment under such program at least as favorable as any other Critical Vendor. In such event, Customer shall make best efforts to obtain court approval for BluIP to be deemed a Critical Vendor.