Common use of Financial Insolvency Clause in Contracts

Financial Insolvency. ‌ Pursuant to Section 302D-28.5, HRS, any public charter school that becomes financially insolvent shall be deemed to have surrendered its charter. For the purpose of this provision, the School shall be determined to be financially insolvent when it is unable to pay its staff when payroll is due. The School shall cooperate with the Commission in ensuring the orderly closure of the School. The School shall comply with the Commission’s closure policies and protocol, once adopted by the Commission.

Financial Insolvency. ‌ Pursuant to Section HRS §302D-28.5, HRS, any public charter school that becomes financially insolvent shall be deemed to have surrendered its charterCharter Contract. For the purpose of this provision, the School shall be determined to be financially insolvent when it is unable to pay its staff when payroll is due. The School shall cooperate with the Commission in ensuring the orderly closure of the School. The School shall comply with the Commission’s closure policies and protocol, once as adopted by the Commission.

Financial Insolvency. ‌ Pursuant to Section HRS §302D-28.5, HRS, any public charter school that becomes financially insolvent shall be deemed to have surrendered its charterCharter Contract. For the purpose of this provision, the School shall be determined to be financially insolvent when it is unable to pay its staff when payroll is due. The School shall cooperate with the Commission in ensuring the orderly closure of the School. The School shall comply with the Commission’s closure policies and protocol, once as adopted by the Commission.

Financial Insolvency. ‌ Pursuant to Section 302D-28.5, HRS, any public charter school that becomes financially insolvent shall be deemed to have surrendered its charter. For the purpose of this provision, the School shall be determined to be financially insolvent when it is unable to pay its staff when payroll is due. The School shall cooperate with the Commission in ensuring the orderly closure of the School. The School shall comply with the Commission’s closure policies and protocol, once adopted by the Commission.

Financial Insolvency. ‌ Pursuant to Section HRS §302D-28.5, HRS, any public charter school that becomes financially insolvent shall be deemed to have surrendered its charterCharter. For the purpose of this provision, the School shall be determined to be financially insolvent when it is unable to pay its staff when payroll is due. The School shall cooperate with the Commission in ensuring the orderly closure of the School. The School shall comply with the Commission’s closure policies and protocol, once adopted by the Commission.