Adequate Funds Clause Samples
The Adequate Funds clause requires a party, typically the buyer or obligor, to confirm that they have sufficient financial resources to fulfill their obligations under the agreement. In practice, this clause may obligate the party to provide evidence of available funds, such as bank statements or financing commitments, before proceeding with a transaction or project. Its core function is to assure the other party that financial incapacity will not impede performance, thereby reducing the risk of default due to lack of funds.
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Adequate Funds. Buyer has all funds necessary to enable it to perform this Agreement in accordance with its terms.
Adequate Funds. The Municipality shall have sufficient funds available to repay the Municipal Obligations. The Municipality shall have sufficient funds available when construction of the Project is completed to ensure effective operation and maintenance of the Project for purposes constructed.
Adequate Funds. 24 ARTICLE V COVENANTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Adequate Funds. Parent has commitment letters in customary form from nationally-recognized lending institutions for and will have at the Effective Time sufficient funds for the payment of the aggregate Merger Consideration and to perform its obligations under the Transaction Agreements and under the ELF Merger Agreement.
Adequate Funds. At the Effective Time, Purchaser will have sufficient funds and capital to carry out its obligations under this Agreement.
Adequate Funds. Buyer has adequate funds or available credit resources to pay the Purchase Price at the Closing Date as provided hereunder;
Adequate Funds. Parent has and will have at the Effective Time sufficient funds for the payment of the Merger Consideration and to perform its obligations under this Agreement.
Adequate Funds. The Buyer currently has and will at the Closing have sufficient cash and cash equivalents and will have at the Closing sufficient immediately available funds, in cash, to pay the Purchase Price, to provide the Company with sufficient working capital and to pay any other amounts payable by the Buyer pursuant to this Agreement and to effect the transactions contemplated hereby.
Adequate Funds. 30 SECTION 4.16. No Prior Activities.......................................................... 30 SECTION 4.17.
Adequate Funds. Parent has commitment letters in customary form from nationally-recognized lending institutions for and will have at the Effective Time sufficient funds for the payment of the Merger Consideration and to perform its obligations with respect to the Merger transactions contemplated by this Agreement and the TULIP Merger Agreement.