Common use of Determination of Inability to Perform Clause in Contracts

Determination of Inability to Perform. If the Authority or the Commission determines at any time prior to the Performance Date (a “Determination Date”) that the Company is unable or unwilling to meet and Maintain its Minimum Targets by and through the Performance Date, and if the Authority or the Commission have promptly notified the Company of such determination, the Company must repay to the Commission all of the Loan proceeds previously disbursed to or for the benefit of the Company. Such a determination will be based on objective circumstances such as a filing by or on behalf of the Company under Chapter 7 of the U.S. Bankruptcy Code, the liquidation of the Company, an abandonment of the Facility by the Company or other similar significant event that would necessarily preclude the Company from being able to satisfy the Minimum Targets.

Determination of Inability to Perform. If the Authority Locality, the Authority, or the Commission determines at any time prior to the Performance Date (a “Determination Date”) that the Company is unable or unwilling to meet and Maintain its Minimum Targets by and through the Performance Date, and if the Locality, the Authority or the Commission have promptly notified the Company of such determination, the Company must repay to the Commission Authority all of the Loan Xxxxx proceeds previously disbursed to or for the benefit of the Company. Such a determination will be based on objective circumstances such as a filing by or on behalf of the Company under Chapter 7 of the U.S. Bankruptcy Code, the liquidation of the Company, an abandonment of the Facility by the Company or other similar significant event that would necessarily preclude the Company from being able to satisfy the Minimum Targets.

Determination of Inability to Perform. If the Authority Locality, the Authority, or the Commission determines at any time prior to the Performance Date (a “Determination Date”) that the Company is unable or unwilling to meet and Maintain its Minimum Targets by and through the Performance Date, and if the Locality, the Authority or the Commission have promptly notified the Company of such determination, the Company must repay to the Commission Authority all of the Loan Grant proceeds previously disbursed to or for the benefit of the Company. Such a determination will be based on objective circumstances such as a filing by or on behalf of the Company under Chapter 7 of the U.S. Bankruptcy Code, the liquidation of the Company, an abandonment of the Facility by the Company or other similar significant event that would necessarily preclude the Company from being able to satisfy the Minimum Targets.