FINANCIAL STANDING OF THE SUPPLIER Sample Clauses

FINANCIAL STANDING OF THE SUPPLIER. The Authority may from time to time during the Term assess the financial standing of: the Supplier; where a Parent Company Guarantee has been provided by the Parent Company, the Parent Company; or where any Alternative Guarantee has been provided, the entity which has provided such Alternative Guarantee (“Alternative Guarantor”). Where a Material Adverse Change (as defined in Clause 11.6) has occurred in respect of the Supplier, its Parent Company and/or Alternative Guarantor, and such Material Adverse Change (in the reasonable opinion of the Authority) represents a risk to: the Supplier’s ability to perform its obligations under this Framework Agreement and/or the Customer Contracts; the ability of the Parent Company to meet its obligations under the Parent Company Guarantee; or the ability of any Alternative Guarantor to meet its obligations under an Alternative Guarantee, then the Authority may (subject to Clause 11.3) require a Parent Company Guarantee or other form of suitable security (including a financial bond, another guarantee (“Alternative Guarantee”) and/or letter of credit or other credit support) reasonably acceptable to the Authority (“Additional Security”). Before exercising its rights under Clause 11.2 to require Additional Security, the Authority shall attempt to discuss the matter with the Supplier and take into account any action which the Supplier and/or its Parent Company proposes to take to mitigate the risk referred to in Clause 11.2. The Supplier shall within five (5) Working Days: of a requirement in accordance with Clause 11.2, procure that the relevant Additional Security is obtained and evidence of this provided to the Authority; and of any change to any agreement which is the subject matter of the Parent Company Guarantee and/or any Alternative Guarantee, procure that the relevant guarantor provides written consent to such change. If the Supplier fails to comply with its obligations under Clause 11.4 or the Authority concludes that, despite the provision of Additional Security, there remains a risk to the: Supplier’s ability to perform its obligations under this Framework Agreement and/or the Customer Contracts; ability of the Parent Company to meet its obligations under the Parent Company Guarantee; or ability of any Alternative Guarantor to meet its obligations under an Alternative Guarantee, then the Authority may by notice in writing immediately terminate this Framework Agreement pursuant to Clause 14.10.
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FINANCIAL STANDING OF THE SUPPLIER. The Authority may from time to time during the Term assess the financial standing of the Supplier and/or its Parent Company. Where a Material Adverse Change (as defined in Clause 13.4) has occurred in respect of the Supplier and/or its Parent Company such that it represents a risk to the Supplier’s ability to perform its obligations under this Framework Agreement and/or the Customer Contracts, the Authority may (subject to Clause 13.2) request a Parent Company Guarantee. Before exercising its rights under Clause 13.3, the Authority shall attempt to discuss the matter with the Supplier. Following such attempts, and taking into account any action which the Supplier and/or its Parent Company takes to mitigate such risk (including by procuring a Parent Company Guarantee in accordance with Clause 13.3, other parent company guarantee and/or letter of credit or other credit support), if the Authority concludes that there remains a risk to the Supplier’s ability to perform its obligations under this Framework Agreement and/or the Customer Contracts, the Authority may by notice in writing immediately terminate this Framework Agreement. The Supplier shall, within five (5) Working Days of a request in accordance with Clause 13.1, procure that the Authority receives a duly executed Parent Company Guarantee .
Sample 1
FINANCIAL STANDING OF THE SUPPLIER. 12.1 The AUTHORITY may from time to time during the Term assess the financial standing of the SUPPLIER including an assessment of:
Sample 1
FINANCIAL STANDING OF THE SUPPLIER. 2.1 The Council reserves the right to check the financial standing of the Supplier on an annual basis (or at any other time on request if the Council has any concerns about the financial standing of the Supplier) following the Supplier’s admission onto the DPS.
Sample 1
FINANCIAL STANDING OF THE SUPPLIER. 11.1 PFP may from time to time during the Term assess the financial standing of the Supplier. PFP may base its assessment of the financial standing of the Supplier by reference to the methodology used in the Invitation to Tender and any other reasonable measure of financial standing determined by PFP including the credit rating(s) of the Supplier as published by a recognised credit rating agency such as Equifax or an equivalent body.
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Related to FINANCIAL STANDING OF THE SUPPLIER

  • Termination on Financial Standing The Authority may terminate this Framework Agreement by serving notice on the Supplier in writing with effect from the date specified in such notice where (in the reasonable opinion of the Authority), there is a material detrimental change in the financial standing and/or the credit rating of the Supplier which:

  • Financial Stability The Contractor shall meet and comply with all requirements located in Title 27, Articles 1 through 15, of the Indiana Code. This includes, but is not limited to, the requirements pertaining to financial solvency, reinsurance and policy contracts, as well as administration of these processes. FSSA and the Indiana Department of Insurance (IDOI) will monitor the Contractor’s financial performance. FSSA will include IDOI findings in their monitoring activities. FSSA shall be copied on required filings with IDOI, and the required filings shall break out financial information for the Hoosier Healthwise line of business separately. The financial performance reporting requirements are listed in Section 9.1 and are further described in the Hoosier Healthwise MCE Reporting Manual, which shall be provided following the Contract award date.

  • Financial Status The average annual turnover from similar jobs, of the firm should not be less than 15 Lakhs in the last three years. Copies of profit & loss account and balance sheets duly authenticate by a Chartered Accountant for the last three years should be enclosed.

  • Financial Statement If Lessor desires to finance, refinance, or sell the Premises or the Building, or any part thereof, Lessee and all Guarantors shall deliver to any potential lender or purchaser designated by Lessor such financial statements of Lessee and such Guarantors as may be reasonably required by such lender or purchaser, including but not limited to Lessee's financial statements for the past three (3) years. All such financial statements shall be received by Lessor and such lender or purchaser in confidence and shall be used only for the purposes herein set forth.

  • Financial Forecasts You understand that any financial forecasts or projections are based on estimates and assumptions we believe to be reasonable but are highly speculative. Given the industry, our actual results may vary from any forecasts or projections.

  • FINANCIAL STATEMENTS TO OWNER The Agent shall render statements of receipts, expenses, and other charges for the Property as requested by the Owner with no more than one (1) statement per month.

  • Financials The financial statements, projections and pro forma balance sheet described in Section 5.4.

  • Annual Financial Statements Within 90 days after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, 2011, (i) the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year commencing with the first Fiscal Year for which such corresponding figures are available, all in reasonable detail, together with a Financial Officer Certification and a Narrative Report with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon by an independent certified public accountant (or accountants) of recognized national standing selected by Borrower, and reasonably satisfactory to Administrative Agent (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards) together with a written statement by such independent certified public accountants stating (1) that their audit examination has included a review of the terms of Section 6.7 of this Agreement and the related definitions, (2) whether, in connection therewith, any condition or event that constitutes a Default or an Event of Default under Section 6.7 has come to their attention and, if such a condition or event has come to their attention, specifying the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that the information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate are not stated in accordance with the terms hereof (which statement may be limited to the extent required by accounting rules or guidelines);

  • Quarterly Financial Statements As soon as available and in any event within 5 days after the date on which such financial statements are required to be filed with the SEC (after giving effect to any permitted extensions) with respect to each of the first three quarterly accounting periods in each fiscal year of the Borrower (or, if such financial statements are not required to be filed with the SEC, on or before the date that is 45 days after the end of each such quarterly accounting period), the consolidated balance sheets of the Borrower and the Subsidiaries and, if different, the Borrower and the Restricted Subsidiaries, in each case as at the end of such quarterly period and the related consolidated statements of operations for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and the related consolidated statement of cash flows for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and setting forth comparative consolidated figures for the related periods in the prior fiscal year or, in the case of such consolidated balance sheet, for the last day of the prior fiscal year (or, in lieu of such unaudited financial statements of the Borrower and the Restricted Subsidiaries, a detailed reconciliation reflecting such financial information for the Borrower and the Restricted Subsidiaries, on the one hand, and the Borrower and the Subsidiaries, on the other hand), all of which shall be certified by an Authorized Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject to changes resulting from audit and normal year end audit adjustments.

  • Financial Report The Company shall furnish to the Administrative Agent (for delivery to each of the Lenders):

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