Arlington Storage Company, LLC

First Revised Volume No. 1

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Effective Date: 11/08/2009, Docket: RP10-67-000, Status: Effective

Original Sheet No. 108 Original Sheet No. 108

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

as defined in Section 30 of these General Terms and Conditions, or if the prospective Customer

satisfies ASC's credit appraisal criteria based on an evaluation of the material provided by

prospective Customer pursuant to this Section. If ASC concludes that a prospective Customer

is not creditworthy, ASC shall provide written notice to the prospective Customer within ten

(10) days after that determination is made. If requested by the prospective Customer, ASC

will provide a written explanation of the basis for its determination within five (5) days of

such request. A prospective Customer may challenge ASC's determination by providing a written

rebuttal in accordance with Section 3.3(j)(6) of these General Terms and Conditions. ASC shall

respond to such a rebuttal in writing within five (5) business days in accordance with

Section 3.3(j)(7). Any reevaluation of credit by ASC in response to such a rebuttal by a

prospective Customer shall be based on the creditworthiness criteria set forth in this Section.

 

(1) Prospective Customer shall provide current audited financial statements, annual

reports, 10-K reports, interim financial statements with attestation by the Chief

Financial Officer (or equivalent) that such statements are a true, correct and fair

representation of financial condition prepared in accordance with Generally Accepted

Accounting Principles and other filings with regulatory agencies which discuss the

prospective Customer's financial status, a list of all corporate affiliates, parent

companies and subsidiaries, and any reports from credit reporting and bond rating

agencies which are available;

 

(2) Prospective Customer shall provide a bank reference and at least two trade references.

The results of reference checks and any credit reports must show that the prospective

Customer's obligations are being paid on a reasonably prompt basis;

 

(3) Prospective Customer shall confirm in writing that it is not operating under any

chapter of the bankruptcy laws and is not subject to liquidation or debt reduction

procedures under state laws, such as an assignment for the benefit of creditors,

or any informal creditors' committee agreement. An exception can be made for a

prospective Customer that is a debtor in possession operating under Chapter XI of

the U.S. Bankruptcy Code but only with adequate assurance that the service billing

will be paid promptly as a cost of administration under the bankruptcy court's jurisdiction;

 

(4) Prospective Customer shall confirm in writing that it is not aware of any change in

business conditions which would cause a substantial deterioration in its financial

condition, a condition of insolvency or the inability to exist as an ongoing business

entity;