Common use of Credit Conditions Clause in Contracts

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.

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‐termshort-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.