Financial Distress or “financial emergency” means that a recipient has filed for bankruptcy protection in federal court or has taken either of the preliminary actions for bankruptcy protection pursuant to Section 53760 of the Government Code.
Financial Distress means a finding by the Department following the analysis of an audit, complaint or data indicating that the financial condition of the facility threatens the health or safety of a resident(s) of a facility. “Generally Accepted Accounting Principles (GAAP)” means those principles that are recognized as thestandard framework of guidelines for financial accounting.
Financial Distress means circumstances where the Recipient is unable to pay its debts or has committed a material breach of its agreements with any creditors:
Examples of Financial Distress in a sentence
Rubin, Robert Raucher, and Megan Harrod, The Relationship Between Household Financial Distress and Health: Implications for Drinking Water Regulation, National Rural Water Association.
Sullivan, Elizabeth Warren & Jay Lawrence Westbrook, Less Stigma or More Financial Distress: An Empirical Analysis of the Extraordinary Increase in Bankruptcy Filings, 59 STAN.
Lawless, The Expenses of Financial Distress: The Direct Costs of Chapter 11, 61 U.
Mullineaux, Monitoring, Financial Distress, and the Structure of Commercial Lending Syndicates, 33 FIN.
For example, a bankruptcy filing initiated by Tenant is a Voluntary Financial Distress Default and a bankruptcy filing by creditors of Tenant shall be considered an Involuntary Financial Distress Default.
More Definitions of Financial Distress
Financial Distress means a covered property that, at the time benchmarking is conducted:
Financial Distress has the meaning given to it in clause 17.6;
Financial Distress shall be deemed to exist if: • the Company reasonably believes that, as a result of a material adverse change in market conditions and/or the Company’s operating performance subsequent to the Issue Date, the Company will be unable to pay its debts as they become due during the applicable terms of the Senior Facilities and as a result, the Company must restructure the payment schedule thereunder; and • in the opinion of an independent, internationally recognized financial advisor retained by the Company, the Company will be unable to obtain debt or equity financing on commercially reasonable terms to repay the Senior Facilities.
Financial Distress means a condition where a banking institution, microfinance banking institution or controlling company cannot meet, or has difficulty paying off, its financial obligations to its creditors, typically due to high fixed costs, illiquid assets or revenues sensitive to economic downturns;
Financial Distress means a condition in which a company cannot meet, or has diffi- culty paying off, its financial obligations to its creditors.
Financial Distress means a forecast by the Provider of a loss in excess of the loss profile set out below over the remaining Contract Term, (provided always that any such forecast loss shall not have been caused by the Provider failing to act as a reasonably competent provider of the Services as set out in the Services Specification), any such forecast to be re-calculated at the end of each Contract Year to reflect the Provider's actual performance. Contract Year2345 Minimum Loss forecast for remainder of the Contract Term from the ContractYear in question£4 million£3 million£2 million£1 million “Financial Model” means the financial model submitted by the Provider as part of the process of tendering for this Contract and set out in Annex I.1 to this Schedule. “Net Book Value” means: (a) in respect of Services Equipment which is shown on the Provider's accounts, the net book value at the time in question unless the actual life of the Services Equipment is less than that envisaged by the net book value which would be implied by the depreciation period for the Services Equipment in which case the net book value shall be adjusted to take the shorter life period of the Services Equipment into account; (b) in respect of Services Equipment which is not shown on the Provider's accounts, the net book value which the Services Equipment would have had if the Services Equipment had been capitalised which, for the avoidance of doubt, shall be calculated by applying the depreciation rate which the Services Equipment would have had in the event that it had been capitalised; and (c) in respect of consumables, the net realisable value in respect of such consumables; in each case, such amounts to be calculated in accordance with usual and consistent accounting principles. "Occupancy Arrangements" means the arrangements that the Provider has in place pursuant to its occupation of the Provider Premises. "Other Termination Event" means termination of this Contract in accordance with GC13, GC 17.2, GC 17.3, or termination for Financial Distress pursuant to paragraph 22 below. “Provider Termination Event” means termination of this Contract by the Provider in accordance with GC 17.1, or termination by the Commissioner of this Contract in accordance with GC 17.7 but excluding termination pursuant to GC 17.7.1 where the Provider's failure to meet a Condition Precedent by the Longstop Date is due to an act or omission of the Commissioner or a failure by the Commissioner to meet its Transition Obligati...
Financial Distress means one of the following: