Common use of Initial Credit Clause in Contracts

Initial Credit. Customer must have and maintain credit satisfactory to NetWolves to receive and continue to receive Services. Customer agrees that NetWolves may request credit information from third parties and hereby authorizes the release of such information. Customer further authorizes NetWolves to investigate ▇▇▇▇▇▇▇▇’s credit history at any time and to share credit information about Customer with credit reporting agencies. NetWolves will review the Customer’s credit and NetWolves may assign a security amount and will notify the Customer of the amount by letter, fax or e-mail. Upon notification of the security amount the Customer shall provide NetWolves with security amount in the form of (a) a cash deposit, (b) an irrevocable, stand-by letter of credit from a financial institution and in a format acceptable to NetWolves, (c) a guarantee by one or more owners or affiliates of Customer or third parties, or (d) some other form of security acceptable to NetWolves in its sole discretion. NetWolves is not obligated to provide or continue to provide any Services, until NetWolves receives the required security.