Common use of Security for Charges* Clause in Contracts

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

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: