Financial Viability. Minimum Net Worth. The Contractor must demonstrate and maintain minimum net worth as specified below. For the purposes of this Contract, minimum net worth is defined as assets minus liabilities. Throughout the term of this Contract, the Contractor must maintain a minimum net worth of $1,500,000, subject to the following conditions: A minimum of $1,200,000 of this requirement must be in cash; The Contractor may include one hundred (100%) percent of the book value (the depreciated value according to generally accepted accounting principles (GAAP)) of tangible health care delivery assets carried on its balance sheet; The GAAP value of intangible assets up to ten (10%) percent of the minimum net worth required may be allowed. Working Capital Requirements. The Contractor must demonstrate and maintain working capital as specified below. For the purposes of this Contract, working capital is defined as current assets minus current liabilities. Throughout the term of this Contract, the Contractor must maintain a positive working capital, subject to the following conditions: If a Contractor's working capital falls below zero, the Contractor must immediately notify EOHHS and submit for EOHHS approval a written plan within thirty (30) days of findings, addressing the action steps being taken to reestablish a positive working capital balance. EOHHS may take any action it deems appropriate, including termination of the Contract, if the Contractor: Fails to report a negative working capital balance that is subsequently identified through an audit; Does not propose a plan to reestablish a positive working capital balance within a reasonable period of time as determined by EOHHS; Violates a corrective plan approved by EOHHS or EOHHS determines that negative working capital cannot be corrected within a reasonable amount of time as determined by EOHHS. Notwithstanding the foregoing, CMS may take any action it deems appropriate, at any time, in order to protect beneficiary access to needed medical care. Financial Stability Financial Stability Plan Throughout the term of this Contract, the Contractor must: Remain financially stable; Maintain adequate protection against insolvency in an amount determined by EOHHS, as follows: Provide to Enrollees all Covered Services required by this Contract for a period of at least forty‑five (45) calendar days following the date of insolvency or until written approval to cease providing such services is received from EOHHS, whichever comes s...
Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.2, it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract; and acknowledges and agrees that the Contractor has: entered into the Subcontract; if applicable, made payments to the Consultant under clause 11.5; and if applicable, elected to proceed to the Delivery Phase, strictly on the basis of, and in reliance upon, the obligations and warranties set out in clause 21. The Consultant must keep the Contractor's Representative fully and regularly informed as to all financial viability matters which could adversely affect the Consultant’s ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, including any potential or actual change in the Consultant’s financial viability. The Contractor's Representative may (in its absolute discretion) at any time request the Consultant to: provide the Contractor's Representative with a solvency statement in the form required by the Contractor with respect to the Consultant, properly completed and duly executed by the Consultant; and ensure its Financial Representative is available to provide the Contractor’s Representative and any independent financial adviser engaged by the Contractor with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the Contractor, the Contractor's Representative and the independent financial adviser engaged by the Contractor for the purpose of demonstrating that the Consultant has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract. If the Contractor considers (in its absolute discretion) that there could be or has been a change in the Consultant’s financial viability which could adversely affect the Consultant’s ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, the Contractor’s Representative may (in its absolute discretion) direct the Consultant to take such steps as the Contractor considers necessary to secure the performance of the Services, Completion and the meeting of its obligations under the Subcontract, including requiring the Consultant to: provide a deed of guarantee, undertaking or substitutio...
Financial Viability. Buyer will not award any new or additional business to Seller without evidence of the Seller’s financial viability, including, without limitation, being provided with it most current audited financial statements. All publicly available financial information will be promptly provided to the Buyer upon request. If Seller becomes a privately held company reasonable access will be given.
Financial Viability. If the department determines, in its absolute discretion, that the AFP’s financial position has or may adversely affect the AFP’s performance of the Project or delivery of services (Financial Viability Issue), the department may exercise certain rights as detailed in clause 17. This clause does not limit the department’s rights under the Funding Agreement.
Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 9.2 or 9A.2 (as the case may be): it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Contract (including the payment of all subconsultants (in accordance with paragraph (b))); and each subconsultant engaged in the Services has the financial viability necessary to perform its activities in accordance with the relevant subcontract; and acknowledges and agrees that the Commonwealth has entered into this Contract and if applicable, has made payments to the Consultant under clause 9.5 or clause 9A.4 (as the case may be), strictly on the basis of and in reliance upon the warranties set out in clause 19.. The Consultant must pay all subconsultants in accordance with the payment terms in all subcontracts. The Consultant must keep the Commonwealth's Representative fully and regularly informed as to all financial viability matters which could adversely affect: the Consultant's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Contract; and
Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 10.2: it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Contract (including the payment of all subconsultants (in accordance with paragraph (b)); and each subconsultant engaged in the Services has the financial viability necessary to perform its activities in accordance with the relevant subcontract; and acknowledges and agrees that the Commonwealth has entered into this Contract and if applicable, has made payments to the Consultant under clause 10.5, strictly on the basis of and in reliance upon the warranties set out in clause 18. The Consultant must pay all subconsultants in accordance with the payments terms in all subcontracts. The Consultant must keep the Commonwealth's Representative fully and regularly informed as to all financial viability matters which could adversely affect: the Consultant's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Contract; and
Financial Viability. 10.1 The RTO warrants that:
Financial Viability. The Contractor shall remain financially viable. If DHS receives notice of any lien or IRS withholding against the Contractor's payments, or bankruptcy, DHS may immediately terminate the contract. The Contractor shall provide DHS with proof of financial viability upon request.
Financial Viability. The Parties agree to ensure financial viability of the Campus, by pursuing the following:
Financial Viability. Key Questions used by the SPONSOR in gauging the Community School’s Financial Viability include:
