Common use of FINANCIAL DISTRESS Clause in Contracts

FINANCIAL DISTRESS. 41.1 The Supplier acknowledges and agrees that the financial stability and solvency of the Supplier and its key Sub‐Contractors is critical to the successful delivery of the Services and that any deterioration or potential deterioration of their financial position may have an adverse effect on the performance of the Contract The Supplier shall monitor its own financial standing and that of its key Sub‐ Contractors on a regular basis throughout the term using a Financial Monitoring Plan and shall report on this to DFID.

FINANCIAL DISTRESS. 41.1 The Supplier acknowledges and agrees that the financial stability and solvency of the Supplier and its key Sub‐Contractors Sub-Contractors is critical to the successful delivery of the Services and that any deterioration or potential deterioration of their financial position may have an adverse effect on the performance of the Contract The Supplier shall monitor its own financial standing and that of its key Sub‐ Sub- Contractors on a regular basis throughout the term using a Financial Monitoring Plan and shall report on this to DFIDthe Authority.