Common use of Other Security Arrangements Clause in Contracts

Other Security Arrangements. The Company at its discretion may deem appropriate, from time to time, other forms of security other than a Performance Bond with an Approved Credit Rating. 4.3.1 the Service Provider’s parent company has a suitable credit rating; 4.3.2 the Service Provider’s parent company is of significant commercial standing; or 4.3.3 where the ownership structure is appropriate such as a semi state company. These alternative arrangements can take the form of: (i) a Letter of Credit; (ii) a guarantee in such form as is reasonably acceptable to the Company issued by an entity with an Approved Credit Rating (a “Qualifying Guarantee”);