Application of Credit Support. Transpower may (but does not have an obligation to do so) on five Business Days notice to the Customer, call on any credit support provided by the Customer under clause 2 held by Transpower in respect of the Customer's performance of its obligations under this Agreement, and apply such credit support against any amounts due under this Agreement by or on behalf of the Customer and not paid within five Business Days from the Due Date.
Appears in 3 contracts
Sources: Benchmark Agreement, Benchmark Agreement, Benchmark Agreement
Application of Credit Support. Transpower may (but does not have an obligation to do so) on five Business Days Days’ notice to the Customer, call on any credit support provided by the Customer under clause 2 held by Transpower in respect of the Customer's performance of its obligations under this Agreement, and apply such credit support against any amounts due under this Agreement by or on behalf of the Customer and not paid within five Business Days from the Due Date.
Appears in 2 contracts
Sources: Benchmark Agreement, Default Transmission Agreement
Application of Credit Support. Transpower may (but does not have an obligation to do so) on five Business Days notice to the Customer, call on any credit support provided by the Customer under clause 2 8.2 or 8.5, or any other form of security or guarantee held by Transpower in respect of the Customer's performance of its obligations under this Agreement, and apply such credit support or other security or guarantee against any amounts due under this Agreement by or on behalf of the Customer and not paid within five Business Days from the Due Date.
Appears in 1 contract
Sources: Benchmark Agreement
Application of Credit Support. Transpower may (but does not have an obligation to do so) on five Business Days notice to the Customer, call on any credit support provided by the Customer under clause 2 held by Transpower in respect of the Customer's performance of its obligations under this Agreement, and apply such credit support or other security or guarantee against any amounts due under this Agreement by or on behalf of the Customer and not paid within five Business Days from the Due Date.
Appears in 1 contract
Sources: Benchmark Agreement