Common use of Creditworthiness and Security Clause in Contracts

Creditworthiness and Security. In the event the Custom Incentive is two hundred fifty thousand dollars ($250,000.00) or more, Participant agrees that PGE may verify Participant’s creditworthiness at any time during the Term, which may include, but is not limited to, Participant providing PGE audited financial statements or other reasonable documentation related to the Participant’s creditworthiness. Based on its credit review of Participant, PGE may require security to ensure the Participant is financially capable of meeting its obligations under this Agreement. Participant will be required to provide security if their long-term senior, unsecured, debt obligation (not supported by third party credit enhancements) is rated by S&P below “BBB-” or by ▇▇▇▇▇’▇ below “Baa3.” If the Participant has not been assigned a long-term senior, unsecured, debt rating, an internal PGE credit score equivalent to the public debt ratings below BBB- / Baa3 may be used. Such security may include: a. A surety bond issued by an issuer and in a form, substance and amount satisfactory to PGE; b. A letter of credit issued by an issuer and in a form, substance and amount satisfactory to PGE; c. A cash deposit in an amount satisfactory to Company; or d. Any other mutually agreed credit mechanism.

Creditworthiness and Security. In the event the Custom Incentive is two hundred fifty thousand dollars ($250,000.00) or more, Participant agrees that PGE may verify Participant’s creditworthiness at any time during the Term, which may include, but is not limited to, Participant providing PGE audited financial statements or other reasonable documentation related to the Participant’s creditworthiness. Based on its credit review of Participant, PGE may require security to ensure the Participant is financially capable of meeting its obligations under this Agreement. Participant will be required to provide security if their long-term senior, unsecured, debt obligation (not supported by third party credit enhancements) is rated by S&P below “BBB-” or by ▇▇▇▇▇’▇ below “Baa3.” If the Participant has not been assigned a long-term senior, unsecured, debt rating, an internal PGE credit score equivalent to the public debt ratings below BBB- / Baa3 may be used. Such security may include: a. : A surety bond issued by an issuer and in a form, substance and amount satisfactory to PGE; b. ; A letter of credit issued by an issuer and in a form, substance and amount satisfactory to PGE; c. ; A cash deposit in an amount satisfactory to Company; or d. or Any other mutually agreed credit mechanism.

Creditworthiness and Security. In the event the Custom Incentive is two hundred fifty thousand dollars ($250,000.00) or more, Participant agrees that PGE may verify Participant’s creditworthiness at any time during the Term, which may include, but is not limited to, Participant providing PGE audited financial statements or other reasonable documentation related to the Participant’s creditworthiness. Based on its credit review of Participant, PGE may require security to ensure the Participant is financially capable of meeting its obligations under this Agreement. Participant will be required to provide security if their long-term senior, unsecured, debt obligation (not supported by third party credit enhancements) is rated by S&P below “BBB-” or by ▇▇▇▇▇’▇ Moody’s below “Baa3.” If the Participant has not been assigned a long-term senior, unsecured, debt rating, an internal PGE credit score equivalent to the public debt ratings below BBB- / Baa3 may be used. Such security may include: a. A surety bond issued by an issuer and in a form, substance and amount satisfactory to PGE; b. A letter of credit issued by an issuer and in a form, substance and amount satisfactory to PGE; c. A cash deposit in an amount satisfactory to Company; or d. Any other mutually agreed credit mechanism.