Significant Financial Difficulties definition

Significant Financial Difficulties means an event which would be likely to cause IPL, acting reasonably, to consider that the Supplier will be unable to continue to carry on its business as a going concern within 3 months of the date upon which IPL became aware of such difficulties by the Supplier or has formed such view itself from information available at the time, including (but not limited to) information concerning the Supplier’s share price or the issue of any profit warning (in the case of listed companies), financial information provided by reputable credit referencing agencies or any other publicly available information;
Sample 1Sample 2Sample 3
Significant Financial Difficulties means an event which would be likely to cause either Party in that Party’s reasonable opinion, to consider that the other Party or the other Party’s Group Company will be unable to continue to carry on its business as a going concern within three (3) months of the date upon which either Party became aware of such Significant Financial Difficulties, whether either Party has been notified by the other Party of any such Significant Financial Difficulties occurring or whether a Party has formed such view itself from information available at the time, including (but not limited to) information concerning the other Party or any company in the other Party’s Group's share price and profit warnings announced (in the case of listed companies), financial information provided by reputable credit referencing agencies and any other publicly available information;
Sample 1Sample 2Sample 3
Significant Financial Difficulties means an event which would be likely to cause the Company, in the Company's reasonable opinion, to consider that the Supplier (or any guarantor providing a Parent Company Guarantee pursuant to Clause 5.6 (“Guarantor”)) will be unable to continue to carry on its business as a going concern within 3 months of the date upon which the Company became aware of such difficulties, whether the Company has been notified of any such difficulties by the Supplier (or the Guarantor) or has formed such view itself from information available at the time, including (but not limited to) information concerning the Supplier's (and/or the Guarantor’s) share price and profit warnings announced (in the case of listed companies), financial information provided by reputable credit referencing agencies and any other publicly available information;
Sample 1Sample 2

Examples of Significant Financial Difficulties in a sentence

  • IPL shall be entitled to end the Contract on written notice if the Supplier is experiencing Significant Financial Difficulties.

  • Forza shall be entitled to end the Contract on written notice if the Supplier is experiencing Significant Financial Difficulties.

  • The Supplier must ensure that IPL is informed immediately after the Supplier becomes aware of any situation which would reasonably be expected to lead the Supplier to experience Significant Financial Difficulties.


More Definitions of Significant Financial Difficulties

Significant Financial Difficulties means an event which would be likely to cause IPL, acting reasonably, to consider that the Supplier will be unable to continue to carry on its business as a going concern within 3 months of the date upon which IPL became aware of such difficulties by the Supplier or has formed such view itself from information available at the time, including (but not limited to) information concerning the Supplier’s share price or the issue of any profit warning (in the case of listed companies), financial information provided by reputable credit referencing agencies or any other publicly available information; "Supplier" means the organisation or person identified as such in any relevant Order; “Terms and Conditions” means these terms and conditions;
Sample 1

Related to Significant Financial Difficulties

  • Significant business transaction means any business transaction or series of transactions that, during any one fiscal year, exceeds the lesser of $25,000 or 5 percent of the total operating expense of a provider.

  • Significant Assets means one or more assets or businesses which, when purchased, optioned or otherwise acquired by the CPC, together with any other concurrent transactions, would result in the CPC meeting the initial listing requirements of the Exchange.

  • Significant Financial Interest means anything of monetary value, including but not limited to, salary or other payments for services (e.g., consulting fees or honoraria); equity interests (e.g., stocks, stock options or other ownership interests); and intellectual property rights (e.g., patents, copyrights, license agreements, and royalties from such rights). The term does not include:

  • Financial exigency means a condition that requires the bona fide discontinuance or reduction in size of an administrative unit, project, program or curriculum due to the lack of funds available and sufficient to meet current or projected expenditures.

  • Accounting Event has the meaning set forth in the Supplemental Indenture.

  • Independent Financial Consultant means a financial consultant or firm of such consultants generally recognized to be well qualified in the financial consulting field, appointed and paid by the District, who, or each of whom:

  • Significant change means a major decline or improvement in the tenant’s status which does not normally resolve itself without further interventions by staff or by implementing standard disease-related clinical interventions that have an impact on the tenant’s mental, physical, or functional health status.

  • Significant Asset Sale means the sale, transfer, lease or other disposition by Holdings or any Subsidiary to any person other than the Borrower or a Subsidiary Guarantor of all or substantially all of the assets of, or a majority of the Equity Interests in, a person, or a division or line of business or other business unit of a person.

  • Independent Financial Expert means a U.S. investment banking firm of national standing in the United States, (i) which does not, and whose directors, officers and employees or affiliates do not have a direct or indirect material financial interest for its proprietary account in the Company or any of its affiliates and (ii) which, in the judgment of the board of directors of the Company, is otherwise independent with respect to the Company and its affiliates and qualified to perform the task for which it is to be engaged.

  • parent financial holding company in a Member State means a financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State;

  • Significant Acquisition means the acquisition (in one or a series of related transactions) of all or substantially all of the assets or Equity Interests of a Person or any division, line of business or business unit of a Person for an aggregate consideration in excess of $750,000,000.

  • parent mixed financial holding company in a Member State means a mixed financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in that same Member State;

  • Financial exploitation means a breach of a fiduciary duty by an actor’s unauthorized expenditure of funds entrusted to the actor for the benefit of the vulnerable adult or by an actor’s failure to provide food, clothing, shelter, health care, therapeutic conduct or supervision, the failure of which results or is likely to result in detriment to the vulnerable adult. Financial exploitation also includes: the willful use, withholding or disposal of funds or property of a vulnerable adult; the obtaining of services for wrongful profit or advantage which results in detriment to the vulnerable adult; the acquisition of a vulnerable adult’s funds or property through undue influence, harassment, duress, deception or fraud; and the use of force, coercion, or enticement to cause a vulnerable adult to perform services against the vulnerable adult’s will for the profit or advantage of another.

  • Selected Consolidated Financial Data and "Capitalization" fairly present the information set forth therein on a basis consistent with that of the audited financial statements contained in the Registration Statement.

  • Material Financial Relationship means a relationship in which one person is a recipient of any kind of payment such as by way of a loan or gift during the immediately preceding twelve months, equivalent to at least 25% of such payer’s annual income but shall exclude relationships in which the payment is based on arm’s length transactions.

  • Professional experience means the actual and lawful pursuit of the profession concerned;

  • mixed financial holding company means a mixed financial holding company as defined in point (21) of Article 4(1) of Regulation (EU) No 575/2013;

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • financial holding company means a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013;

  • Significant Guarantor means any guaranty agency that guarantees trust student loans comprising at least 10% of the Pool Balance of the trust student loans by outstanding principal balance as of the statistical disclosure date.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services. (C) The term "Managerial Responsibilities" for purposes of this Unit Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the same as that Grantee is performing for SunTrust or a SunTrust Affiliate on the date of this Unit Agreement. (D) The term "SunTrust Affiliate" for purposes of this Unit Agreement shall mean any corporation which is a subsidiary corporation (within the meaning of §424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under §424(f) of the Code exclusively as a result of SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. (E) The term "Territory" for purposes of this Unit Agreement shall mean the states of Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia, which are the states and Territories in which SunTrust has significant operations on the date of this Unit Agreement. (F) "Trade Secret" for purposes of Unit Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from it is disclosure or use, and (ii) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy.

  • Consolidated Net Working Capital means (a) all current assets of the Company and its Restricted Subsidiaries except current assets from Oil and Gas Hedging Contracts, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except (i) current liabilities included in Indebtedness, (ii) current liabilities associated with asset retirement obligations relating to oil and gas properties and (iii) any current liabilities from Oil and Gas Hedging Contracts, in each case as set forth in the consolidated financial statements of the Company prepared in accordance with GAAP (excluding any adjustments made pursuant to FASB ASC 815).

  • Material Financial Obligations means any Debt and/or Derivatives Obligation of the Borrower and/or one or more of its Subsidiaries, arising in one or more related or unrelated transactions, the principal or face amount (with respect to Debt) or Settlement Amount (with respect to Derivatives Obligations, after giving effect to any netting arrangements) of which exceeds in the aggregate $100,000,000.

  • Certified Minority Business Enterprise means a business which has been certified by the certifying organization or jurisdiction in accordance with s. 287.0943(1) and (2).