Common use of Financial Difficulty Clause in Contracts

Financial Difficulty. 37.1 We want your business to be successful. However, there may be times when you need extra support. You should let us know by contacting your relationship manager as soon as possible if your business is experiencing financial difficulties. We will always try to help you and try to develop a plan with you to deal with the difficulties. 37.2 If we become aware of problems, we may contact you but you will probably spot any problems before we do. If you let us know as soon as possible, we can start working out a solution together. 37.3 Some examples of things that may cause concern are if: 37.3.1 you go overdrawn without our agreement; 37.3.2 you exceed any agreed overdraft limit, especially more than once; 37.3.3 there are large variations in your business’ turnover; 37.3.4 you are trading at a loss; 37.3.5 you suddenly lose a key customer or employee; 37.3.6 you sell a large part of your business; 37.3.7 you use a facility for purposes other than those agreed with us;

Financial Difficulty. 37.1 We want your business to be successful. However, there may be times when you need extra support. You should let us know by contacting your relationship manager as soon as possible if your business is experiencing financial difficulties. We will always try to help you and try to develop a plan with you to deal with the difficulties. 37.2 If we become aware of problems, we may contact you but you will probably spot any problems before we do. If you let us know as soon as possible, we can start working out a solution together. 37.3 Some examples of things that may cause concern are if: 37.3.1 you go overdrawn without our agreement; 37.3.2 you exceed any agreed overdraft limit, especially more than once; 37.3.3 there are large variations in your business’ ’s turnover; 37.3.4 you are trading at a loss; 37.3.5 you suddenly lose a key customer or employee; 37.3.6 you sell a large part of your business; 37.3.7 you use a facility for purposes other than those agreed with us;