Financial Capacity Requirements Sample Clauses

Financial Capacity Requirements. Upon completion of the Review and Selection Process and/or after the County has awarded a Work Order, the County may evaluate and rate any Proposer’s or Contractor’s (Organization) financial capacity to fulfill the requirements of a Work Order for its duration. The County may, at any time and at its sole discretion, request copies of an Organization’s three most recent years of financial statements. The Organization should include its assets, liabilities, and net worth in its financial statements. At a minimum, the Organization should include its Balance Sheet (Statement of Financial Positions), Income Statement (Statement of Operations), and the Retained Earnings Statement. If audited statements are available, the Organization should submit these to meet this requirement. The Organization should not submit Income Tax Returns to meet this requirement. The County shall keep financial statements confidential if so stamped on each page. Upon the conclusion of its evaluation, the County shall deem the financial capacity of the Organization as “Acceptable” or “Unacceptable.” In the event the County deems an Organization’s Financial Capacity to be “Unacceptable,” the County reserves the right to ask the Organization to submit additional information or complete a Corrective Action Plan. In the event an Organization is unable to satisfy the County’s request for additional information and/or successfully complete a Corrective Action Plan, the County may deem the Organization to be Non-Responsive or may rescind or terminate an awarded Work Order. This provision shall survive the expiration or other termination of this Work Order Solicitation.
Sample 1
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Related to Financial Capacity Requirements

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. Choice of Law The Agreement between the Vendor and TIPS/ESC Region 8 and any addenda or other additions resulting from this procurement process, however described, shall be governed by, construed and enforced in accordance with the laws of the State of Texas, regardless of any conflict of laws principles. Venue, Jurisdiction and Service of Process Any Proceeding arising out of or relating to this procurement process or any contract issued by TIPS resulting from or any contemplated transaction shall be brought in a court of competent jurisdiction in Camp County, Texas and each of the parties irrevocably submits to the exclusive jurisdiction of said court in any such proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court, and agrees not to bring any proceeding arising out of or relating to this procurement process or any contract resulting from or any contemplated transaction in any other court. The parties agree that either or both of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and freely bargained for agreement between the parties irrevocably to waive any objections to venue or to convenience of forum. Process in any Proceeding referred to in the first sentence of this Section may be served on any party anywhere in the world. Venue for any dispute resolution process, other than litigation, between TIPS and the Vendor shall be located in Camp or Xxxxx County, Texas.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Definitions For purposes of this Agreement:

  • Representations and Warranties Borrower represents and warrants as follows:

  • Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • NOW, THEREFORE the parties hereto agree as follows:

  • Termination This Agreement may be terminated at any time prior to the Closing:

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