Common use of – Other Network Users Clause in Contracts

– Other Network Users. The Retailer Insolvency Event Cost Pass Through does not apply to Network Users which are not retailers. In the case of these Network Users, AGN’s Credit Policy is that the Network User must have an acceptable credit rating or provide AGN with security acceptable to AGN, on terms and conditions acceptable to AGN. For the purposes of this section 6.5.2, AGN will from time to time determine what constitutes an acceptable credit rating. Until otherwise determined by AGN, an acceptable credit rating is: a a rating of BBB or higher for long-term unsecured counterparty obligations of the entity, as rated by Standard & Poors (Australia) Pty Ltd; or b a rating of Baa2 or higher for long term obligations of the entity, as rated by ▇▇▇▇▇’▇ Investors Services. Whenever AGN decides to alter the acceptable credit rating, it will notify all affected Network Users of the acceptable credit rating or ratings as altered. For the purposes of this section 6.5.2, acceptable security will be: a a bank guarantee, given by an Australian bank acceptable to AGN, for an amount of not less than AGN’s reasonable estimate of three months average Charges (calculated by reference to a 12 month period); or b a guarantee of the Network User’s obligations given by an entity, acceptable to AGN, that has an acceptable credit rating (as defined above).

– Other Network Users. The Retailer Insolvency Event Cost Pass Through does not apply to Network Users which are not retailers. In the case of these Network UsersUsers who are not Gas Retailers, AGN’s Credit Policy is that the Network User must have an acceptable credit rating or provide AGN with security acceptable to AGN, on terms and conditions acceptable to AGN. For the purposes of this section 6.5.2, AGN will from time to time determine what constitutes an acceptable credit rating. Until otherwise determined by AGN, an acceptable credit rating is: a a rating of BBB or higher for long-term unsecured counterparty obligations of the entity, as rated by Standard & Poors (Australia) Pty Ltd; or b a rating of Baa2 or higher for long term obligations of the entity, as rated by ▇▇▇▇▇’▇ Moody’s Investors Services. Whenever AGN decides to alter the acceptable credit rating, it will notify all affected Network Users of the acceptable credit rating or ratings as altered. For the purposes of this section 6.5.2, acceptable security will be: a a bank guarantee, given by an Australian bank acceptable to AGN, for an amount of not less than AGN’s reasonable estimate of three months average Charges (calculated by reference to a 12 month period); or b a guarantee of the Network User’s obligations given by an entity, acceptable to AGN, that has an acceptable credit rating (as defined above).