Evidence of Financial Capacity Sample Clauses

Evidence of Financial Capacity. The Guarantors acknowledge that, they have presented to the Corporation their audited financial statements in connection with the Corporation’s provision of the HTF Loan and that, such statements accurately and correctly present the financial condition of the Guarantors as of the date thereof and that no material events have occurred which make the statements inaccurate or which jeopardize the ability of the Guarantors to provide the financial support anticipated hereunder. The Guarantors shall have an ongoing obligation to provide updated financial information to the Corporation throughout the term of this Guaranty. At the request of the Corporation, each Guarantor shall provide to the Corporation compiled or audited financial statements within 120 days of the close of its fiscal year. All such financial statements shall be prepared in accordance with generally accepted accounting principles.
Sample 1Sample 2
AutoNDA by SimpleDocs
Evidence of Financial Capacity. The Guarantors acknowledge that they have presented to ADFA (1) a copy of their most recent audit and (2) a copy of the previous two years’ financial statements in connection with ADFA’s provision of the HOME Loan and that such statements accurately and correctly present the financial condition of the Guarantors as of the date thereof and that no material events have occurred which make the statements inaccurate or which jeopardize the ability of the Guarantors to provide the financial support anticipated hereunder. The Guarantors shall have an ongoing obligation to provide updated financial information to ADFA throughout the term of this Guaranty. At the request of ADFA, each Guarantor shall provide to ADFA compiled or audited financial statements within 120 days of the close of its fiscal year. All such financial statements shall be prepared in accordance with generally accepted accounting principles.
Sample 1
Evidence of Financial Capacity. The Developer shall demonstrate, to the satisfaction of the Authority, that the Developer has the financial capacity to take each action necessary to carry out and complete the Project. Evidence of the Developer’s financial ability shall consist of either: (i) a commitment letter, letter of intent, letter of credit, or other evidence reasonably acceptable to the Authority, from a reputable lender, committing to finance construction of the Project in an amount sufficient to complete the Project, together with similar evidence of a reputable lender’s commitment to provide take-out financing; (ii) evidence reasonably acceptable to the Authority that the Developer has liquid assets in an amount sufficient to complete the Project and which the Developer has pledged to carrying out the Project; (iii) evidence reasonably acceptable to the Authority that Developer has or will receive donations of time, materials, and funds in an amount sufficient to complete the Project; or (iv) at the Authority’s option, some combination of (i), (ii) and (iii).
Sample 1
Evidence of Financial Capacity. Each Guarantor acknowledges that, if it has presented to the Mortgagee and/or the Authority its financial statements in connection with the Mortgagee’s provision of the NSP2 Loan to the Owner, such statements accurately and correctly present the financial condition of that Guarantor as of the date thereof and that no material events have occurred which make the statements inaccurate or which jeopardize the ability of each Guarantor to provide the financial support anticipated hereunder. Each Guarantor shall have an ongoing obligation to provide financial information to the Mortgagee and the Authority throughout the term of this Guaranty. At the request of the Mortgagee and/or the Authority, each Guarantor shall provide to the Mortgagee and/or the Authority audited or compiled financial statements within 90 days of the close of its fiscal year to provide the Mortgagee and/or the Authority with evidence of its continued financial capacity to meet the Recapture Obligation described herein. All such financial statements shall be prepared in accordance with generally accepted accounting principles.
Sample 1
Evidence of Financial Capacity. Guarantor acknowledges that it has presented to the Agency its audited financial statements in connection with Agency's provision of the Assistance grant to the Project Owner and that such statements accurately and correctly present the financial condition of Guarantor as of the date thereof and that no material events have occurred which make the statements inaccurate or which jeopardize the ability of Guarantor to provide the financial support anticipated hereunder. Each Guarantor shall have an ongoing obligation to provide updated financial information to the Agency throughout the term of this Guaranty. Each Guarantor shall provide to the Agency audited financial statements within 90 days of the close of its fiscal year to provide the Agency with evidence of its continued financial capacity to meet the Recapture Obligations described herein. All such financial statements shall be prepared in accordance with generally accepted accounting principles.
Sample 1

Related to Evidence of Financial Capacity

  • Financial Capacity Investor currently has the financial capacity to meet its obligations to the Company hereunder, and the Investor has no present knowledge of any circumstances which could cause it to become unable to meet such obligations in the future.

  • Financial Capability At Closing, the Investor will have available funds necessary to consummate the Closing on the terms and conditions contemplated by this Agreement and has the ability to bear the economic risks of its prospective investment in the Purchased Shares and can afford the complete loss of such investment.

  • Legal Capacity All parties to the Mortgage Note and the Mortgage had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage, and the Mortgage Note and the Mortgage have been duly and properly executed by such parties. The Mortgagor is a natural person;

  • INDEPENDENT CAPACITY The employees or agents of each party who are engaged in the performance of this Agreement shall continue to be employees or agents of that party and shall not be considered for any purpose to be employees or agents of the other party.

  • PARENTAL CONTROL CAPABILITY (a) Upon request, and at no separate, additional charge, the Licensee shall provide Subscribers with the capability to control the reception of any channel on the Cable Communications System.

  • Not Acting in Individual Capacity Except as provided in this Article VI, in accepting the trusts hereby created Wilmington Trust Company acts solely as Owner Trustee hereunder and not in its individual capacity, and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Trust Agreement or any Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof.

  • Errors and Omissions, Professional Liability or Malpractice Insurance Contractor may be required to carry errors and omissions, professional liability or malpractice insurance. All policies shall remain in force through the life of this Contract and shall be payable on a "per occurrence" basis unless County specifically consents to a "claims made" basis. The insurer shall supply County adequate proof of insurance and/or a certificate of insurance evidencing coverages and limits prior to commencement of work. Should any of the required insurance policies in this Contract be cancelled or non-renewed, it is the Contractor’s duty to notify the County immediately upon receipt of the notice of cancellation or non-renewal. If Contractor does not carry a required insurance coverage and/or does not meet the required limits, the coverage limits and deductibles shall be set forth on a waiver, Exhibit C, attached hereto. Failure to provide and maintain the insurance required by this Contract will constitute a material breach of this Contract. In addition to any other available remedies, County may suspend payment to the Contractor for any services provided during any time that insurance was not in effect and until such time as the Contractor provides adequate evidence that Contractor has obtained the required coverage.

  • Health and Accident Insurance Unit members shall continue to be covered under the State's Group Health and Accident Insurance plan currently in effect pursuant to the provisions of Chapter 32A of the General Laws as amended or as such plan may be made available under applicable law of the Commonwealth. Pre-tax treatment of group health insurance contributions shall be implemented as soon as is administratively feasible. Benefits shall not be provided to part-time employees except as required by law; provided that Colleges that decide to provide benefits to part-time employees will discuss that issue with the MCCC prior to implementation; provided further that any part-time employee currently receiving benefits shall not lose those benefits.

  • Individual Counseling Available provision of counseling techniques by a licensed clinician, a professional counsel or an intern whose work is directly supervised by a licensed clinician in a group setting.

  • INDEPENDENT CAPACITY OF THE CONTRACTOR The parties intend that an independent contractor relationship will be created by this contract. The CONTRACTOR and his or her employees or agents performing under this contract are not employees or agents of the AGENCY. The CONTRACTOR will not hold himself/herself out as or claim to be an officer or employee of the AGENCY or of the State of Washington by reason hereof, nor will the CONTRACTOR make any claim of right, privilege or benefit that would accrue to such employee under law. Conduct and control of the work will be solely with the CONTRACTOR.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!