Assurances of Performance. 59 SECTION 16. INSURANCE 62
Assurances of Performance. Each of the Stockholders shall use its commercially reasonable efforts to cause its respective Related Persons to comply with the terms of this Agreement applicable thereto (it being understood that such Stockholder shall be responsible to the Company for any breach of such terms by any such Related Person).
Assurances of Performance. If, in the judgment of Renold, the financial condition of Purchaser at any time does not justify continuation of production or shipment on the terms of payment originally specified, Renold may require full or partial payment in advance or additional security from Purchaser before shipment, accelerate the date of any payment, withhold any shipment or further shipments, cancel any unfilled orders and/or demand such other or further adequate assurance of performance from Purchaser. In the event of the bankruptcy or insolvency of Purchaser or in the event any proceeding is brought by or against Purchaser under the bankruptcy or insolvency laws, Renold shall be entitled to cancel any order then outstanding, without liability whatsoever, and shall receive reimbursement for its cancellation charges.
Assurances of Performance. If, in the judgment of Xxxxxx Xxxxxxx, the financial condition of Purchaser at any time does not justify continuation of production or shipment on the terms of payment originally specified, Renold Xxxxxxx xxx require full or partial payment in advance or additional security from Purchaser before shipment, accelerate the date of any payment, withhold any shipment or further shipments, cancel any unfilled orders and/or demand such other or further adequate assurance of performance from Purchaser. In the event of the bankruptcy or insolvency of Purchaser or in the event any proceeding is brought by or against Purchaser under the bankruptcy or insolvency laws, Xxxxxx Xxxxxxx shall be entitled to cancel any order then outstanding, without liability whatsoever, and shall receive reimbursement for its cancellation charges.
Assurances of Performance. Each of the Investors shall use its commercially reasonable efforts to cause its respective Affiliates, Associates, officers, directors and other Investor Agents, to comply with the terms of this Agreement
Assurances of Performance. Throughout the term of this Agreement, COLLECTOR, at its expense, shall maintain for COUNTY’S benefit a performance bond or letter of credit in the face amount of $10,000 to assure performance of COLLECTOR’S obligations under this Agreement. COLLECTOR shall use a COUNTY-approved bond or letter of credit template, which the COUNTY must approve and accept as to final form. Said bond or letter of credit shall provide for arbitration of claims consistent with Section 7.6 (ARBITRATION). Throughout the term of this Agreement, an admitted surety insurer or bank authorized to do business in the State of California shall issue the bond or letter of credit. COLLECTOR shall not permit the bond or letter of credit to be canceled or modified, or to expire without providing the DIRECTOR thirty (30) days advance written notice, and without first obtaining and providing a replacement bond, notice of maturity, or replacement letter of credit satisfactory to DIRECTOR.
Assurances of Performance. 15.1 Material Adverse Change in Financial Condition
15.1.1 Material adverse changes, can include, but are not limited to, the following:
(a) A sale, merger or acquisition exceeding ten percent of the value of shareholder, joint venturer, partner or member equity prior to the sale, merger or acquisition which has a material adverse impact on the affected Financially Responsible Entity;
(b) Inability to meet conditions of loan or debt covenants by the affected Financially Responsible Entity or parent corporation of the affected Financially Responsible Entity which has required or will require a waiver or modification of agreed financial ratios, coverage factors or other loan stipulations, or additional credit support from shareholders, joint venturers, partners, members or other third parties;
(c) A downward change in credit rating, if available, for the affected Financially Responsible Entity or parent corporation of the affected Financially Responsible Entity; or
(d) The affected Financially Responsible Entity or the parent corporation of the affected Financially Responsible Entity sustained charges exceeding 10% of the then shareholder, joint venturer, partner or member equity due to claims, changes in accounting, write-offs or business restructuring since the previous year’s audited financial statements.
Assurances of Performance. If, in the judgment of Eastbay, the financial condition of Customer at any time does not justify continuation of production or shipment on the terms of payment originally specified, EASTBAY may require full or partial payment in advance or additional security from Customer before shipment, accelerate the date of any payment, withhold any shipment or further shipments, cancel any unfilled orders and/or demand such other or further adequate assurance of performance from Customer. In the event of the bankruptcy or insolvency of Customer or in the event any proceeding is brought by or against Customer under the bankruptcy or insolvency laws, EASTBAY shall be entitled to cancel any order then outstanding, without liability whatsoever, and shall receive reimbursement for its cancellation charges.
Assurances of Performance. Each of the Sinclair Parties shall use its commercially reasonable efforts to cause any Person it controls (as distinguished from the ability to influence) to comply with the terms of this Agreement applicable thereto (it being understood that such Sinclair Party shall be responsible to the Partnership for any breach of such terms by any such controlled Person).
Assurances of Performance. Each of the Xxxxxxxx Parties shall use its commercially reasonable efforts to cause any Person it controls (as distinguished from the ability to influence) to comply with the terms of this Agreement applicable thereto (it being understood that such Xxxxxxxx Party shall be responsible to the Company for any breach of such terms by any such controlled Person).
