Security for Charges* Clause Samples

Security for Charges*. (a) Subject to clause 9(b), if Western Power* determines at any time during the Term* that either or both of the User*'s or the Indemnifier*'s technical or financial resources are such that a Reasonable and Prudent Person* would consider there to be a material risk that the User* will be unable to meet its obligations under this Contract*, then Western Power* may require the User* to nominate which of the User* or the Indemnifier (“Nominated Person*”) is to provide the following security, and then require the Nominated Person*, at the User*'s election to: (i) pay a cash deposit equal to the Charges* for two months’ services; or (ii) provide an irrevocable and unconditional bank guarantee or equivalent financial instrument in terms acceptable to Western Power* (acting as a Reasonable and Prudent Person*), guaranteeing or otherwise securing the Charges* for two months’ services; or (iii) if Western Power* is satisfied, as a Reasonable and Prudent Person*, that the User*’s parent company’s financial and technical resources are such that the User’s* parent company would be able to meet the User*’s obligations under this Contract* (including because the User*’s parent company meets at least one of the credit ratings given in clauses 9(b)(i) and 9(b)(ii)), procure from the User*’s parent company a guarantee substantially in the form set out in Schedule 8. (b) If the User* or the Indemnifier* has an unqualified credit rating of at least: (i) BBB from Standard and Poor’s Australia Pty Ltd; or (ii) Baa from ▇▇▇▇▇’▇ Investor Service Pty Ltd, and provides evidence to this effect to Western Power*, then Western Power* is not entitled to determine under clause 9(a) that the User*'s financial resources are such that there would be a material risk that the User* will be unable to meet its obligations under this Contract*.
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Security for Charges*. (a) Subject to clause 9(b), if Western Power* determines at any time during the Term* that either or both of the User*'s or the Indemnifier*'s technical or financial resources are such that a Reasonable and Prudent Person* would consider there to be a material risk that the User* will be unable to meet its obligations under this Contract*, then: (i) Western Power* may require the User* to within 15 Business Days* nominate which of the User* or the Indemnifier* (“Nominated Person*”) is to provide the following security;, and (i) (ii) within 15 Business Days* of the User*’s nomination under clause 9(a)(i), then require the Nominated Person*, at the User*'s election, must eitherto: DM 8672179 ELECTRICITY TRANSFER ACCESS CONTRACT (AA#32) (A) pay to Western Power* a cash deposit equal to the Charges* for two months’ services; or
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Security for Charges*. 10.1 Subject to clause 10.2, if the Microgrid Operator determines at any time during the Term that either or both of the Retailer's or the Guarantor's technical or financial resources are such that a Reasonable and Prudent Person would consider there to be a material risk that the Retailer will be unable to meet its obligations under this Contract, then: 10.1.1 the Microgrid Operator may require the Retailer to within 15 Business Days nominate which of the Retailer or the Guarantor (“Nominated Person”) is to provide security; and 10.1.2 within 15 Business Days of the Retailer’s nomination under clause 10.1.1, the Nominated Person, at the Retailer's election, must either: (a) pay to the Microgrid Operator a cash deposit equal to the Charges for two months’ Services; or (b) provide an irrevocable and unconditional bank guarantee or equivalent financial instrument in terms acceptable to the Microgrid Operator (acting as a Reasonable and Prudent Person), guaranteeing or otherwise securing the Charges for two months’ Services; or (c) if the Microgrid Operator is satisfied, as a Reasonable and Prudent Person, that the Retailer’s parent company’s financial and technical resources are such that the Retailer’s parent company would be able to meet the Retailer’s obligations under this Contract (including because the Retailer’s parent company meets at least one of the credit ratings given in clauses 10.2.1 and 10.2.2), procure from the Retailer’s parent company a guarantee substantially in the form set out in Schedule 6. 10.2 If the Retailer or the Guarantor has an unqualified credit rating of at least: 10.2.1 BBB from Standard and Poor’s Australia Pty Ltd; or 10.2.2 Baa from ▇▇▇▇▇’▇ Investor Service Pty Ltd, and provides evidence to this effect to the Microgrid Operator, then the Microgrid Operator is not entitled to determine under clause 10.1 that the Retailer's financial resources are such that there would be a material risk that the Retailer will be unable to meet its obligations under this Contract. 10.3 If any security held by the Microgrid Operator under clause 10.1.2(a) or 10.1.2(b) at any time is not equal to the Charges for two months' Services, then the Nominated Person must, within 15 Business Days of a written request by the Microgrid Operator to the Retailer: 10.3.1 if the security is a cash deposit under clause 10.1.2(a), provide the Microgrid Operator with an additional cash payment to increase the security so that it is equal to the Charges for two ...
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Related to Security for Charges*

  • Responsibility for Charges 4.1 FTCS shall be responsible for and pay to Verizon all charges for any Telecommunications Services provided by Verizon or provided by persons other than Verizon and billed for by Verizon, that are ordered, activated or used by FTCS, FTCS Customers or any other persons, through, by means of, or in association with, Telecommunications Services provided by Verizon to FTCS pursuant to this Resale Attachment. 4.2 Upon request by FTCS, Verizon will provide for use on resold Verizon retail Telecommunications Service dial tone lines purchased by FTCS such Verizon retail Telecommunications Service call blocking and call screening services as Verizon provides to its own end user retail Customers, where and to the extent Verizon provides such Verizon retail Telecommunications Service call blocking services to Verizon’s own end user retail Customers. FTCS understands and agrees that certain of Verizon’s call blocking and call screening services are not guaranteed to block or screen all calls and that notwithstanding FTCS’s purchase of such blocking or screening services, FTCS’s end user Customers or other persons ordering, activating or using Telecommunications Services on the resold dial tone lines may complete or accept calls which FTCS intended to block. Notwithstanding the foregoing, FTCS shall be responsible for and shall pay Verizon all charges for Telecommunications Services provided by Verizon or provided by persons other than Verizon and billed for by Verizon in accordance with the terms of Section 4.1 above.

  • Payment of Charges (a) Subject to Section 5.2(b), each Credit Party shall pay and discharge or cause to be paid and discharged promptly all Charges payable by it, including (i) Charges imposed upon it, its income and profits, or any of its property (real, personal or mixed) and all Charges with respect to tax, social security and unemployment withholding with respect to its employees, (ii) lawful claims for labor, materials, supplies and services or otherwise, and (iii) all storage or rental charges payable to warehousemen and bailees, in each case, before any thereof shall become past due. (b) Each Credit Party may in good faith contest, by appropriate proceedings, the validity or amount of any Charges, Taxes or claims described in Section 5.2(a); provided, that (i) adequate reserves with respect to such contest are maintained on the books of such Credit Party, in accordance with GAAP; (ii) no Lien shall be imposed to secure payment of such Charges (other than payments to warehousemen and/or bailees) that is superior to any of the Liens securing payment of the Obligations and such contest is maintained and prosecuted continuously and with diligence and operates to suspend collection or enforcement of such Charges, (iii) none of the Collateral becomes subject to forfeiture or loss as a result of such contest, (iv) such Credit Party shall promptly pay or discharge such contested Charges, Taxes or claims and all additional charges, interest, penalties and expenses, if any, and shall deliver to Agent evidence reasonably acceptable to Agent of such compliance, payment or discharge, if such contest is terminated or discontinued adversely to such Credit Party or the conditions set forth in this Section 5.2(b) are no longer met, and (v) Agent has not advised Borrower in writing that Agent reasonably believes that nonpayment or nondischarge thereof could have or result in a Material Adverse Effect.

  • Record Maintenance and Retention A. Grantee shall keep and maintain under GAAP or GASB, as applicable, full, true, and complete records necessary to fully disclose to the System Agency, the Texas State Auditor’s Office, the United States Government, and their authorized representatives all information required to determine compliance with the terms and conditions of this Grant Agreement and all state and federal rules, regulations, and statutes. Grantee shall ensure these same requirements are included in all subcontracts. B. Grantee shall maintain and retain legible copies of this Grant Agreement and all records relating to the performance of the Grant Agreement, including supporting fiscal documents adequate to ensure that claims for grant funds are in accordance with applicable State of Texas requirements. These records shall be maintained and retained by the Grantee for a minimum of seven (7) years after the Grant Agreement expiration date or seven (7) years after all audits, claims, litigation, or disputes involving the Grant Agreement are resolved, whichever is later. Grantee shall ensure these same requirements are included in all subcontracts.

  • Document Retention and Record Maintenance The HSP will (a) retain all records (as that term is defined in FIPPA) related to the HSP’s performance of its obligations under this Agreement for 7 years after the termination or expiration of the term of this Agreement; (b) keep all financial records, invoices and other finance-related documents relating to the Funding or otherwise to the Services in a manner consistent with either generally accepted accounting principles or international financial reporting standards as advised by the HSP’s auditor; and (c) keep all non-financial documents and records relating to the Funding or otherwise to the Services in a manner consistent with all Applicable Law.

  • Payment of Taxes and Charges All shares of Common Stock issuable upon the exercise of this Warrant pursuant to the terms hereof shall be validly issued, fully paid and nonassessable, and without any preemptive rights. The Company shall pay all expenses in connection with, and all taxes and other governmental charges that may be imposed with respect to, the issue or delivery thereof.