CREDIT RATING AND DUTY TO NOTIFY Sample Clauses

CREDIT RATING AND DUTY TO NOTIFY. The Supplier warrants and represents to the Authority for the benefit of the Authority that as at the Panel Commencement Date the long term credit ratings issued for the Supplier [and Panel Guarantor/ [and Call Off Guarantor]] by each of the Rating Agencies are as set out in Annex 2. The Supplier shall promptly notify (or shall procure that its auditors promptly notify) the Authority in writing if there is any downgrade in the credit rating issued by any Rating Agency for either the Supplier [or the Panel Guarantor/ [ and Call Off Guarantor]] (and in any event within five (5 )Working Days of the occurrence of the downgrade). If there is any downgrade credit rating issued by any Rating Agency for either the Supplier [or the Panel Guarantor/ [and Call Off Guarantor],] the Supplier shall ensure that the Supplier’s auditors [Panel Guarantor/ [and Call Off Guarantor]] auditors (as the case may be) thereafter provide the Authority within 10 Working Days of the end of each Contract Year and within 10 Working Days of written request by the Authority (such requests not to exceed 4 in any Contract Year) with written calculations of the quick ratio for the Supplier [or the Panel Guarantor/ [and Call Off Guarantor] as the case may be] as at the end of each Contract Year or such other date as may be requested by the Authority. For these purposes the “quick ratio” on any date means: where: A is the value at the relevant date of all cash in hand and at the bank of the Supplier [or the Panel Guarantor/ [and Call Off Guarantor] (as the case may be)]; B is the value of all marketable securities held by the Supplier [or the Panel Guarantor/ [and Call Off Guarantor] (as the case may be)] ]determined using closing prices on the Working Day preceding the relevant date; C is the value at the relevant date of all account receivables of the Supplier [Panel Guarantor/ [and Call Off Guarantor] (as the case may be)]; and D is the value at the relevant date of the current liabilities of the Supplier [or the Panel Guarantor/ [and Call Off Guarantor] (as the case may be)]. The Supplier shall: regularly monitor the credit ratings of the Supplier[, Panel Guarantor/ [and Call Off Guarantor] and each Key Sub-Contractor] with the Rating Agencies; and promptly notify (or shall procure that its auditors promptly notify) the Authority in writing following the occurrence of a Financial Distress Event [or Key Sub-Contractor Financial Distress Event] or any fact, circumstance or matter which could...
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CREDIT RATING AND DUTY TO NOTIFY. 2.1 The Supplier warrants and represents to the Authority for the benefit of the Authority that as at the Framework Commencement Date the long term credit ratings issued for the Supplier and Framework Guarantor by each of the Rating Agencies are as set out in Annex 2.
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CREDIT RATING AND DUTY TO NOTIFY. The Supplier warrants and represents to the Authority that as at the Framework Commencement Date the long term credit ratings issued by the Rating Agency for the Supplier and the Framework Guarantor are as set out in Annex 1 to this Framework Schedule. The Supplier shall and shall procure that the Framework Guarantor shall maintain a long term credit rating above the relevant Credit Rating Threshold set out in Annex 1 to this Framework Schedule. The Supplier shall promptly notify (or shall procure that its auditors promptly notify) the Authority in writing if it ceases, or the Framework Guarantor ceases, to maintain a long term credit rating above the relevant Credit Rating Threshold (and in any event within ten (10) Working Days of ceasing to have such credit rating), whereupon the Supplier shall ensure that its auditors calculate such financial ratios as may be reasonably requested in writing by the Authority. The Supplier shall: regularly monitor its and the Framework Guarantor’s credit ratings with the Rating Agency; and shall procure that its auditors, promptly notify the Authority in writing following the occurrence of a Financial Distress Event or any fact, circumstance or matter which could cause a Financial Distress Event (and in any event ensure that such notification is made within ten (10) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the date on which the Supplier first becomes aware of the Financial Distress Event or the fact, circumstance or matter which could cause a Financial Distress Event).
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CREDIT RATING AND DUTY TO NOTIFY. 2.1. The Consultant warrants and represents to the Client for the benefit of the Client that as at the Contract Date the long-term credit ratings issued for the Consultant by the Rating Agency.
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CREDIT RATING AND DUTY TO NOTIFY. The Supplier warrants and represents to the Authority and each Other Contracting Body that as at the Commencement Date the long term credit ratings issued by the Rating Agencies for: the Supplier by the Rating Agencies are as set out in Appendix 1 to this Schedule; and the Guarantor are as set out in the Guarantee. Not used The Supplier shall promptly notify (or shall procure that its auditors promptly notify) the Authority in writing if it ceases, or the Guarantor ceases, to have a credit rating, whereupon the Supplier shall ensure that its auditors calculate such financial ratios as may be reasonably requested by the Authority. The Supplier shall monitor its and the Guarantor’s credit ratings with the Rating Agencies regularly and shall, or shall procure that its auditors shall, promptly notify the Authority in writing following the occurrence of a Financial Distress Event or any fact, circumstance or matter which could cause a Financial Distress Event (and in any event within ten (10) Working Days (or such longer period as the Authority may permit and notify to the Supplier in writing) from the date on which the Supplier first becomes aware of the Financial Distress Event or the fact, circumstance or matter could cause a Financial Distress Event). The Supplier shall regularly monitor its Sub-contractors’ financial stability and shall, or shall procure that its auditors shall: promptly notify the Authority in writing following the occurrence of an event analogous to a Financial Distress Event or any fact, circumstance or matter which could cause an event analogous to a Financial Distress Event (and in any event within ten (10) Working Days (or such longer period as the Authority may permit and notify to the Supplier in writing) from the date on which the Supplier first becomes aware of the event analogous to the Financial Distress Event or the fact, circumstance or matter could cause an event analogous to a Financial Distress Event); and ensure that documentation and information in support of such monitoring is maintained and, upon request from the Authority, provide such documentation and information to the Authority. CONSEQUENCES OF A FINANCIAL DISTRESS EVENT In the event of: the Supplier's and/or the Guarantor’s credit ratings dropping below the Credit Rating Threshold; the Supplier and/or the Guarantor issuing a profits warning to a stock exchange or making any other public announcement about a material deterioration in its financial position or pros...
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CREDIT RATING AND DUTY TO NOTIFY. 2.1 The Contractor warrants and represents to the Framework Authority and each Customer that as at the Commencement Date the long term credit ratings issued by the Rating Agencies or (where applicable) the financial ratios for the Contractor, the Guarantor and any Material Sub-contractors are as set out in Appendix 1 to this Schedule.
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CREDIT RATING AND DUTY TO NOTIFY. 10.2.1 The Contractor warrants and represents to the Department for the benefit of the Department that as at the Commencement Date the long term credit ratings issued for the Contractor, [the Guarantor and Key Sub-contractors] by the Rating Agencies are [insert the relevant long term ratings].
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Related to CREDIT RATING AND DUTY TO NOTIFY

  • Duty to Notify During the term of this Contract and for a period of five (5) years thereafter, the RECIPIENT is under a continuing obligation to notify the INSTITUTE’s Chief Executive Officer at the same time it is required to notify any Federal or State entity of any unexpected adverse event or condition that materially impacts the performance or general public perception of the conduct or results of the Project and Institute-Funded Activities, including any impact to the Scope of Work included in the Contract and events or results that have a serious adverse impact on human health, safety or welfare. By way of example only, if clinical testing of the results of Institute-Funded Activities reveal an unexpected risk of developing serious health conditions or death, then the RECIPIENT shall, at the same time it notifies any Federal or State entity, promptly so notify the INSTITUTE’s Chief Executive Officer even if such results are not available until after the term of this Contract. Notice required under this section shall be made as promptly as reasonably possible and shall follow the procedures set forth in Section 9.21 “Notices.”

  • Obligation to Notify Change In the event that any of the representations or warranties made/given by a Party ceases to be true or stands changed, the Party who had made such representation or given such warranty shall promptly notify the other of the same.

  • Xxxxxxxx’s Right to Reinstate the Loan after Acceleration If Xxxxxxxx meets certain conditions, Borrower will have the right to reinstate the Loan and have enforcement of this Security Instrument discontinued at any time up to the later of (a) five days before any foreclosure sale of the Property, or (b) such other period as Applicable Law might specify for the termination of Xxxxxxxx’s right to reinstate. This right to reinstate will not apply in the case of acceleration under Section 19. To reinstate the Loan, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instrument and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreements under this Security Instrument or the Note; (cc) pay all expenses incurred in enforcing this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably require to assure that Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note, and Xxxxxxxx’s obligation to pay the sums secured by this Security Instrument or the Note, will continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (ddd) Electronic Fund Transfer. Upon Xxxxxxxx’s reinstatement of the Loan, this Security Instrument and obligations secured by this Security Instrument will remain fully effective as if no acceleration had occurred.

  • Notice and Opportunity to Cure Notwithstanding the foregoing, it shall be a condition precedent to the Company’s right to terminate Executive’s employment for Cause and Executive’s right to terminate for Good Reason that (i) the party seeking termination shall first have given the other party written notice stating with specificity the reason for the termination (“breach”) and (ii) if such breach is susceptible of cure or remedy, a period of fifteen (15) days from and after the giving of such notice shall have elapsed without the breaching party having effectively cured or remedied such breach during such 15-day period, unless such breach cannot be cured or remedied within fifteen (15) days, in which case the period for remedy or cure shall be extended for a reasonable time (not to exceed an additional thirty (30) days) provided the breaching party has made and continues to make a diligent effort to effect such remedy or cure.

  • Express Waiver: I desire to expressly waive any claim of confidentiality as to any and all information contained within our response to the competitive procurement process (e.g. RFP, CSP, Bid, RFQ, etc.) by completing the following and submitting this sheet with our response to Education Service Center Region 8 and TIPS. Signature Date

  • Limitation of Vendor Indemnification and Similar Clauses This is a requirement of the TIPS Contract and is non-negotiable TIPS, a department of Region 8 Education Service Center, a political subdivision, and local government entity of the State of Texas, is prohibited from indemnifying third-parties (pursuant to the Article 3, Section 52 of the Texas Constitution) except as otherwise specifically provided for by law or as ordered by a court of competent jurisdiction. Article 3, Section 52 of the Texas Constitution states that "no debt shall be created by or on behalf of the State … " and the Texas Attorney General has opined that a contractually imposed obligation of indemnity creates a "debt" in the constitutional sense. Tex. Att'y Gen. Op. No. MW-475 (1982). Thus, contract clauses which require TIPS to indemnify Vendor, pay liquidated damages, pay attorney's fees, waive Vendor's liability, or waive any applicable statute of limitations must be deleted or qualified with ''to the extent permitted by the Constitution and Laws of the State of Texas." Does Vendor agree? Yes, I Agree Alternative Dispute Resolution Limitations This is a requirement of the TIPS Contract and is non-negotiable. TIPS, a department of Region 8 Education Service Center, a political subdivision, and local government entity of the State of Texas, does not agree to binding arbitration as a remedy to dispute and no such provision shall be permitted in this Agreement with TIPS. Vendor agrees that any claim arising out of or related to this Agreement, except those specifically and expressly waived or negotiated within this Agreement, may be subject to non-binding mediation at the request of either party to be conducted by a mutually agreed upon mediator as prerequisite to the filing of any lawsuit arising out of or related to this Agreement. Mediation shall be held in either Camp or Titus County, Texas. Agreements reached in mediation will be subject to the approval by the Region 8 ESC's Board of Directors, authorized signature of the Parties if approved by the Board of Directors, and, once approved by the Board of Directors and properly signed, shall thereafter be enforceable as provided by the laws of the State of Texas. Does Vendor agree? Yes, Vendor agrees Does Vendor agree? Yes, Vendor agrees No Waiver of TIPS Immunity This is a requirement of the TIPS Contract and is non-negotiable. Vendor agrees that nothing in this Agreement shall be construed as a waiver of sovereign or government immunity; nor constitute or be construed as a waiver of any of the privileges, rights, defenses, remedies, or immunities available to Region 8 Education Service Center or its TIPS Department. The failure to enforce, or any delay in the enforcement, of any privileges, rights, defenses, remedies, or immunities available to Region 8 Education Service Center or its TIPS Department under this Agreement or under applicable law shall not constitute a waiver of such privileges, rights, defenses, remedies, or immunities or be considered as a basis for estoppel. 5 Does Vendor agree? Yes, Vendor agrees Payment Terms and Funding Out Clause This is a requirement of the TIPS Contract and is non-negotiable. Vendor agrees that TIPS and TIPS Members shall not be liable for interest or late-payment fees on past-due balances at a rate higher than permitted by the laws or regulations of the jurisdiction of the TIPS Member. Funding-Out Clause: Vendor agrees to abide by the applicable laws and regulations, including but not limited to Texas Local Government Code § 271.903, or any other statutory or regulatory limitation of the jurisdiction of any TIPS Member, which requires that contracts approved by TIPS or a TIPS Member are subject to the budgeting and appropriation of currently available funds by the entity or its governing body. 2

  • Sale of Note; Change of Loan Servicer; Notice of Grievance The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the “Loan Servicer”) that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party’s actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20.

  • PLEASE READ THIS NEXT SECTION CAREFULLY Although there will be circumstances when it is appropriate to seek parental consent, children’s data protection and privacy rights are their own. The law considers that children of average maturity will, from the age of around 12, have sufficient awareness of their own privacy to make certain choices relating to their personal data themselves. Parents’ views remain important, but sometimes the law will require us to give more weight to the decision the child makes about his or her own privacy. For most purposes, it will not in fact be necessary or practical for us to obtain consent from you (or your child) for the use we make of your (or your child’s) personal data. The law recognises this but also requires that, as far as possible, we set out clearly what these uses will be. Please also see our 'Privacy Notice' which is available on the School's website.

  • Right to Union Representation A. An employee shall have the right to Union representation if requested by the employee, only as provided below. There will be no exceptions to this rule.

  • Response to Notice Within ten business days of receiving the Claim Notice, the Respondent must notify the Claimant of its representative to negotiate the dispute.

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