Common use of Credit Evaluation Clause in Contracts

Credit Evaluation. Aggregator with a demonstrable current credit rating of Baa2 or higher from ▇▇▇▇▇’▇ or BBB or higher from Standard and Poor’s, Fitch, or Duff & ▇▇▇▇▇▇, is deemed to be creditworthy unless SCE determines that a material change in the Aggregator’s creditworthiness has occurred. SCE requires Aggregator to complete a credit application including financial information reasonably necessary to establish credit. The creditworthiness evaluation may be conducted by an outside credit analysis agency, determined by SCE, with final credit approval granted by SCE. This evaluation will be completed within 10 business days. Credit reports will remain strictly confidential between the credit analysis agency and SCE. A credit application processing fee, as approved by the CPUC, may be charged to offset the cost of determining the Aggregator’s creditworthiness.