Credit Conditions Clause Samples

The CREDIT CONDITIONS clause sets out the specific requirements and criteria that must be met for a party to receive credit under an agreement. Typically, this clause details the documentation, financial information, or performance benchmarks that must be provided or achieved before credit is extended, such as proof of income, satisfactory credit checks, or compliance with certain covenants. Its core practical function is to protect the credit provider by ensuring that credit is only granted to parties who meet predefined standards, thereby reducing the risk of default and ensuring responsible lending.
POPULAR SAMPLE Copied 1 times
Credit Conditions. If, at any time, the financial conditions of Buyer, or ▇▇▇▇▇'s prior performance under the terms of this or any other agreement with Seller shall- cause Seller to reasonably question Buyer's ability to perform, Seller may demand adequate assurance to ▇▇▇▇▇'s due performance . Such demand for assurance may require full payment of all amounts then due and owing to Buyer or may require partial or full advance payment of the purchase price of goods which have been scheduled for delivery, but shall not be limited to the foregoing. If Buyer fails within 10 days of Seller's demand to provide Seller with such assurance, Seller shall be entitled to cancel any order then outstanding, shall be entitled to receive reimbursement for the reasonable and proper cancellation charges, and may proceed to collect, without limitation, any sums due and owing, its reasonable cancellation charged and all damages resulting from Buyer's default, including, but not limited to, Seller's attorney's fees and costs, regardless of whether or not suit is actually filed and/or taken to judgement or settlement, In the event of bankruptcy or insolvency of Buyer, or in the event of any proceeding brought against Buyer, voluntarily or involuntarily, under the bankruptcy or any insolvency laws. Seller shall be entitled to cancel any order then outstanding at any time during the period allowed by filing claims against the estate and shall receive therefrom reimbursement for its reasonable and proper cancellation charges. Unless otherwise agreed in writing, all export sales are to be covered by an irrevocable confirmed letter of credit established in a acceptable Canadian bank.
View SourceView Similar (3)
Credit Conditions. We will monitor your ability to timely meet your financial obligations to us, and we further reserve the right to alter your payment terms, if we determine, through information available from our business relationship with you, or other credible independent third party sources, that you are or have become a credit risk to us. The possible payment/contract terms changes include but are not limited to: (a) requiring you to pay invoices by wire transfer; (b) requiring you to immediately post a security deposit in an amount determined by us to secure your obligations under this Agreement; (c) requiring you to prepay your estimated obligations for each payroll period one (1) banking business day prior to the start of the payroll period; and (d) requiring you to sign a short‐term, automatically terminating Client Service Agreement Addendum and prepaying each estimated obligation for each payroll period per clause (c) above. Any security deposit must remain available to us in the event of your bankruptcy filing or default under this Agreement. The amount provided as security must equal, at a minimum, the invoice amount of one payroll period plus, if the payroll is paid in arrears, the estimated amount represented by the period in arrears. We will calculate the amount required.
View SourceView Similar (2)
Credit Conditions. Credits and/or other compensation under this SLA and other SLAs shall only be payable where: 1.3.1 Failures to provide Service was due to a cts or omissions of Customer, master landlord or any third party outside of Company’s reasonable control or other Extenuating Circumstances; 1.3.2 Customer is not currently, nor was at the time the Service Outage occurred, in default of any of the terms and conditions of the MSA, Acceptable Use Policy (AUP), this SLA and any SLA related to the Services being provided by the Company; 1.3.3 Customer has submitted to Company a claim in writing via email or via the Company support ticketing system identifying the circumstances in which ▇▇▇▇▇▇▇▇ claims that the credit and/or compensation arose; 1.3.4 Company has agreed in writing, acting reasonably and without undue delay, to issue such credit and/or other compensation in connection with such claim; 1.3.5 Customer’s account is current;
View Source
Credit Conditions. ASF's Credit Services Group will monitor clients' ability to timely meet their financial obligations to ASF. ASF reserves the right to place credit conditions on any client, if ASF determines in its sole discretion, that the client is or has become a credit risk to ASF. The possible credit conditions include but are not limited to: (a) require the client to pay invoices by wire transfer; (b) require the client to immediately post a deposit in an amount determined by ASF to secure client's obligations under the CSA; (c) require the client to prepay its estimated obligations for a payroll period one (1) business day prior to the start of the payroll period; (d) require the client to immediately provide a non-revocable stand-by Letter of Credit in favor of ASF in an amount determined by ASF necessary to secure client's obligations arising under the CSA; and/or (e) require the client to provide other financial security acceptable to ASF.
View Source
Credit Conditions. Blue Spike may, at its sole discretion, establish conditions and reasonable credit facilities for the sale of Products to customers. All interest arising from the use of such credit facilities by customers, if any, will accrue to Blue Spike, without compensation to BBII.
View Source
Credit Conditions. Notwithstanding Section 2.1 of this Agreement, the Lenders each shall not have any duty or obligation to loan, make or otherwise extend the Credit to Compost, Miami and/or Bedminster, and Compost, Miami and Bedminster shall not have any right (under this Agreement, the Credit Documents or any applicable Definitive Supplemental Documents, or otherwise) to compel the Lenders to loan, make or otherwise extend the Credit to Compost and/or Miami and/or Bedminster, unless and until all conditions, that are otherwise set forth in 1) this Agreement, 2) the Credit Documents and 3) any other applicable Definitive Supplemental Documents, are satisfied by Compost and Miami and Bedminster, to the reasonable satisfaction of the Lenders, and their respective counsel, on or before the Term Loan Closing on the Closing Date at the Closing Location.
View Source
Credit Conditions. (i) The then current value of Crude Oil and Products held in storage by Crown on Statoil's behalf, pursuant to this Agreement, shall be debited against any credit facility that Statoil shall make available to Crown for this and/or any other business purpose. Crown shall provide Statoil with balance sheet information on a monthly basis including assets, liabilities and debt levels for the months these figures are not available in public financial statements. Statoil shall treat nonpublic information on a confidential basis. At Statoil's request, and upon reasonable notice, Crown shall provide to Statoil any other information sufficient to enable Statoil to ascertain Crown's current financial condition, and for Statoil to assure itself of the security of Crude Oil and Products owned by Statoil which is in Crown's custody. In addition, Crown shall notify Statoil within twenty-four (24) hours of any event which could reasonably be expected to have a material adverse effect on Crown's financial condition, operations, business or prospects taken as a whole, including but not limited to, adverse changes in Crown's debt to equity ratio, default under the Credit Agreement or Indenture, default in the payment when due of any principal of or interest on any indebtedness aggregating USD 1 million or more, a final judicial or administrative judgment against Crown which is in excess of USD 1 million in the aggregate, a downgrading of Crown's credit and debt rating by a national credit agency and a reduction in credit availability in excess of USD 5 million. (ii) Statoil reserves the right, immediately and without prior notice, to terminate or suspend any credit facility, and any other credit arrangements, which Statoil shall make available to Crown for this and/or any other business purpose, whenever, in its sole judgment, Statoil considers Crown's financial condition to present an undue risk to the security of Statoil's assets in Crown's custody, or should Statoil conclude that it has not or cannot obtain sufficient information to ascertain the security of such assets. In the event that such termination or suspension is initiated, then Statoil shall immediately notify Crown, and Crown shall then have the option of opening an irrevocable, stand-by Letter of Credit, substantially in the format and wording stated in Addendum Two, with a financial institution acceptable to Statoil, and for a duration specified by Statoil, to cover a value as determined by Statoil, up to th...
View Source
Credit Conditions. The then current value of Crude Oil and Products held in storage by Crown on Statoil's behalf, pursuant to this Agreement, shall be debited against any credit facility which Statoil shall make available to Crown for this and/or any other business purpose. At Statoil's request, and upon reasonable notice, Crown shall provide to Statoil information sufficient to enable Statoil to ascertain Crown's current financial condition, and for Statoil to assure itself of the security of Crude Oil and Products owned by Statoil which is in Crown's custody. Statoil reserves the right, immediately and without prior notice, to terminate or suspend any credit facility, and any other credit arrangements, which Statoil shall make available to Crown for this and/or any other business purpose, whenever, in its sole judgment, Statoil considers Crown's financial condition to present an undue risk to the security of Statoil's assets in Crown's custody, or should Statoil conclude that it has not or cannot obtain sufficient information to ascertain the security of such assets. In the event that such termination or suspension is initiated, then Statoil shall immediately notify Crown, and Crown shall then have the option of opening an irrevocable, stand-by Letter of Credit, in the format and wording stated in Addendum Two, with a financial institution acceptable to Statoil, and for a duration specified by Statoil, to cover a value as determined by Statoil, up to the full value of Statoil's assets as may be held by Crown during the course of this Agreement.
View Source
Credit Conditions 
View SourceView Similar (6)

Related to Credit Conditions

  • Additional Conditions to Revolving Loans If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall have been satisfied.

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Provisions Related to Extended Revolving Credit Commitments If the maturity date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the maturity date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.17. If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Letters of Credit shall be agreed with the Lenders under the extended tranches.

  • CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT The obligation of each Lender to make Loans and of the Issuing Lender to issue Letters of Credit hereunder is subject to the performance by each of the Loan Parties of its Obligations to be performed hereunder at or prior to the making of any such Loans or issuance of such Letters of Credit and to the satisfaction of the following further conditions:

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent: