Financial Difficulty. You should notify us immediately if you are in financial difficulty and believe you may not be able to meet your obligations to us. Please call us on 0000 000 000.
Financial Difficulty. This Agreement shall automatically terminate if any of the following take place with regard to the other party: such party makes a general assignment or general arrangement for the benefit of its creditors; the filing by or against such party of a petition to have it adjudged bankrupt or of a petition for reorganization or arrangement of such party under any law relating to bankruptcy or insolvency unless, in the case of a filing against such party, the same is dismissed within thirty (30) days; the appointment of a trustee or a receiver to take possession of substantially all of such party's assets or its interests in this Agreement, where such possession is not restored within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of such party's assets or its interests in this Agreement, where such seizure is not discharged within thirty (30) days.
Financial Difficulty. 37.1 We want your business to be successful. However, there may be times when you need extra support. You should let us know by contacting your relationship manager as soon as possible if your business is experiencing financial difficulties. We will always try to help you and try to develop a plan with you to deal with the difficulties.
37.2 If we become aware of problems, we may contact you but you will probably spot any problems before we do. If you let us know as soon as possible, we can start working out a solution together.
37.3 Some examples of things that may cause concern are if:
37.3.1 you go overdrawn without our agreement;
37.3.2 you exceed any agreed overdraft limit, especially more than once;
37.3.3 there are large variations in your business’ turnover;
37.3.4 you are trading at a loss;
37.3.5 you suddenly lose a key customer or employee;
37.3.6 you sell a large part of your business;
37.3.7 you use a facility for purposes other than those agreed with us;
Financial Difficulty. If after you have paid the Entrance Fee you encounter financial difficulties making it impossible for you to pay the full Monthly Charges, then:
10.2.1 You shall in any case be permitted to remain at the Community for one hundred twenty (120) days after the date of failure to pay, during which time you shall continue to pay reduced Monthly Charges based on your current income; and
10.2.2 Because it is and shall continue to be our declared policy to not cancel your residency solely by reason of your financial inability to pay the full Monthly Charges, you shall be permitted to remain at the Community at reduced Monthly Charges based on your ability to pay for so long as you establish facts to justify deferral of such charges, and the deferral of such charges can, in our sole discretion, be granted without impairing our ability to operate on a sound financial basis. The loss of revenue to the Community from any such deferral of charges will be borne by us and will not be charged back to other residents under the Fair Share Allocation. This provision shall not apply if you have impaired your ability to meet your financial obligations hereunder by making unapproved gifts or other transfers. To evidence these agreements based on the circumstances at the time, you agree to enter into a special hardship agreement with us at the time of any such deferrals to reflect the reduced charges currently payable and the interest rate to be applied to the deferrals. Any payments otherwise due to you from us, including the refund of your Entrance Fee, will be offset against any such deferred charges as provided in Section 3.3.
Financial Difficulty. If a party can't pay its debts, is insolvent, or starts negotiating debt restructuring.
Financial Difficulty. A Shareholder's Stock shall become subject to sale pursuant to this Agreement, when the Shareholder does any of the following:
(a) Obtains for itself an order for relief under the United States Bankruptcy Code, or becomes subject to such an order that is not released within 30 days:
(b) Obtains an order or decree of insolvency under state law, or becomes subject to such an order that is not released within 30 days;
(c) Makes an assignment for the benefit of creditors; or
(d) Consents to or suffers an attachment or execution on any substantial part of its assets that are not released within 30 days.
Financial Difficulty. Any circumstance whereby Borrower:
(a) Is generally not paying its debts as such debts become due;
(b) Files a voluntary petition in bankruptcy or has filed against it any involuntary petition in bankruptcy that remains undismissed for thirty (30) days;
(c) Makes an assignment for the benefit of creditors;
(d) Has any part of its assets in receivership, or has entered against it an order of any court appointing a receiver for any part of its assets, and such order is not vacated or stayed within thirty (30) days of its entry;
(e) Has a part of its assets in sequestration or the custody of any court, which sequestration or custody is not suspended or terminated within ten (10) days from its inception; or
(f) Incurs any material adverse change in its financial condition.
Financial Difficulty. Borrower or Guarantor becoming involved in financial difficulty as evidenced by one or more of the following events:
A. Borrower, Guarantor, or one or more shareholders of Borrower owning in the aggregate a majority of Borrower's outstanding capital stock becoming insolvent, as defined in any bankruptcy, insolvency, or other debtor relief law, or filing a petition in bankruptcy or a petition seeking a reorganization or an arrangement of creditors under any bankruptcy, insolvency, or other debtor relief law, or Reeking to take advantage of any bankruptcy, insolvency, or debtor relief law, or filing an answer admitting or not contesting the material allegations of a petition filed against it or him in such a proceeding, or the entry of an order for relief in any such proceeding, or Borrower or Guarantor taking any action (formal or informal) leading to the winding-up, dissolution or liquidation of Borrower, or Borrower or Guarantor is discontinued as a going concern;
B. Borrower or Guarantor (i) making a general assignment for the benefit of its or his creditors, (ii) admitting in writing its inability to pay its or his debt. generally as they mature, (iii) seeking, consenting, or acquiescing to the appointment of a trustee, receiver, liquidator, or fiscal agent for all or a substantial part of its or his property, or (iv) suffering the appointment without its or his consent or acquiescence of a trustee, receiver, liquidator, or fiscal agent for all or a substantial part of its property;
C. The assumption of custody or sequestration by a court of competent Jurisdiction of all or a substantial part of the property of Borrower or Guarantor; or
D. An attachment after judgment being made on all or a substantial part of the property of Borrower or Guarantor.
Financial Difficulty. If the Borrower is in financial difficulty and believes that the Borrower will not be able to meet its obligations to 1Loan, the Borrower should contact 1Loan immediately.
Financial Difficulty. If, after you have paid the Entrance Payment, you encounter financial
