Common use of Financial Test Clause in Contracts

Financial Test. Upon discovery by any Party that it or its Guarantor does not meet the requirements of any Financial Test, such Party shall give prompt written notice thereof and the reasons therefor to the other Party. At any time after receipt of such notice, or if any Party shall otherwise receive information that the other Party or its Guarantor may not meet any Financial Test, the Party receiving such notice or information may make reasonable request to the other Party for such additional information as is readily available to such other Party, which shall be provided to the requesting Party reasonably promptly after such request.