Common use of Financial Viability Clause in Contracts

Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.2, it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract; and acknowledges and agrees that the Contractor has: entered into the Subcontract; if applicable, made payments to the Consultant under clause 11.5; and if applicable, elected to proceed to the Delivery Phase, strictly on the basis of, and in reliance upon, the obligations and warranties set out in clause 21. The Consultant must keep the Contractor's Representative fully and regularly informed as to all financial viability matters which could adversely affect the Consultant’s ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, including any potential or actual change in the Consultant’s financial viability. The Contractor's Representative may (in its absolute discretion) at any time request the Consultant to: provide the Contractor's Representative with a solvency statement in the form required by the Contractor with respect to the Consultant, properly completed and duly executed by the Consultant; and ensure its Financial Representative is available to provide the Contractor’s Representative and any independent financial adviser engaged by the Contractor with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the Contractor, the Contractor's Representative and the independent financial adviser engaged by the Contractor for the purpose of demonstrating that the Consultant has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract. If the Contractor considers (in its absolute discretion) that there could be or has been a change in the Consultant’s financial viability which could adversely affect the Consultant’s ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, the Contractor’s Representative may (in its absolute discretion) direct the Consultant to take such steps as the Contractor considers necessary to secure the performance of the Services, Completion and the meeting of its obligations under the Subcontract, including requiring the Consultant to: provide a deed of guarantee, undertaking or substitution in the form required by the Contractor; provide the Consultant Deeds of Covenant; or provide collateral warranties in the form required by the Contractor. The Consultant acknowledges and agrees that: nothing in clause 21 will limit, reduce, or otherwise affect any of the rights of the Contractor under the Subcontract or otherwise at law or in equity; neither the Contractor nor the Contractor's Representative is required to exercise any discretion under clause 21 for the benefit of the Consultant; clause 21 does not give the Consultant any rights; and the exercise or failure to exercise a discretion under clause 21 is not capable of being the subject of a dispute or difference for the purposes of clause 13.1 or otherwise subject to review.

Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.2, 10.2 or 10A.2 (as the case may be): it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the SubcontractContract (including the payment of all subconsultants (in accordance with paragraph (b))); and each subconsultant engaged in the Services has the financial viability necessary to perform its activities in accordance with the relevant subcontract; and acknowledges and agrees that the Contractor has: Commonwealth has entered into the Subcontract; this Contract and if applicable, has made payments to the Consultant under clause 11.5; and if applicable, elected to proceed to 10.5 or clause 10A.4 (as the Delivery Phasecase may be), strictly on the basis of, of and in reliance upon, upon the obligations and warranties set out in clause 2120.. The Consultant must pay all subconsultants in accordance with the payment terms in all subcontracts. The Consultant must keep the ContractorCommonwealth's Representative fully and regularly informed as to all financial viability matters which could adversely affect affect: the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the SubcontractContract; and a subconsultant's ability to perform its activities in accordance with the relevant subcontract, including any potential or actual change in in: the Consultant’s 's financial viability; or a subconsultant's financial viability. The ContractorCommonwealth's Representative may (in its absolute discretion) at any time request the Consultant to: provide the ContractorCommonwealth's Representative with a solvency statement in the form required by the Contractor Commonwealth with respect to to: the Consultant, properly completed and duly executed by the Consultant; or a subconsultant, properly completed and ensure duly executed by the subconsultant; ensure: its Financial Representative is available available; and each subconsultant makes its Financial Representative available, to provide the Contractor’s Commonwealth's Representative and any independent financial adviser engaged by the Contractor Commonwealth with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the ContractorCommonwealth, the ContractorCommonwealth's Representative and the independent financial adviser engaged by the Contractor Commonwealth for the purpose of demonstrating that that: the Consultant has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the SubcontractContract (including the payment of all subconsultants in accordance with paragraph (b)); or a subconsultant has the financial viability necessary to perform its activities in accordance with the relevant subcontract. If the Contractor Commonwealth considers (in its absolute discretion) that there could be or has been a change in in: the Consultant’s 's financial viability viability; or a subconsultant's financial viability, which could adversely affect affect: the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the SubcontractContract; or a subconsultant's ability to perform its activities in accordance with the relevant subcontract, the Contractor’s Commonwealth's Representative may (in its absolute discretion) direct the Consultant to take such steps as the Contractor Commonwealth considers necessary to secure the performance of the Services, Completion and the meeting of its obligations under the SubcontractContract. If the Commonwealth's Representative gives a direction under paragraph (e), then the Consultant must take such steps as the Commonwealth considers necessary to better secure a subconsultant's ability to perform its activities in accordance with the relevant subcontract, including requiring any of the Consultant to: provide a deed of guarantee, undertaking or substitution in the form required steps notified by the Contractor; provide the Consultant Deeds of Covenant; or provide collateral warranties in the form required by the ContractorCommonwealth. The Consultant acknowledges and agrees that: nothing in clause 21 20. will limit, reduce, or otherwise affect any of the rights of the Contractor Commonwealth under other provisions of the Subcontract Contract or otherwise at law or in equity; neither the Contractor Commonwealth nor the ContractorCommonwealth's Representative is required to exercise any discretion under clause 21 20. for the benefit of the Consultant; clause 21 does not give the Consultant (or any rights; and the exercise or failure to exercise a discretion under clause 21 is not capable of being the subject of a dispute or difference for the purposes of clause 13.1 or otherwise subject to review.subconsultant);

Financial Viability. The ConsultantSubcontractor: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.2, 12.2: it has the financial viability necessary to perform the ServicesSubcontractor’s Activities, achieve Completion and otherwise meet its obligations under the SubcontractSubcontract (including the payment of all subsubcontractors (in accordance with paragraph ()); and each subsubcontractor engaged in the Subcontractor’s Activities, the Subcontract Works or each Stage has the financial viability necessary to perform its activities in accordance with the relevant subsubcontract; and acknowledges and agrees that the Contractor has: has entered into the Subcontract; Subcontract and if applicable, applicable has made payments to the Consultant Subcontractor under clause 11.5; and if applicable, elected to proceed to the Delivery Phase12.5, strictly on the basis of, of and in reliance upon, upon the obligations and warranties set out in clause 2124.. The Subcontractor must pay all subsubcontractors in accordance with the payments terms in all subsubcontracts. The Consultant Subcontractor must keep the Contractor's ’s Representative fully and regularly informed as to all financial viability matters which could adversely affect affect: the ConsultantSubcontractor’s ability to perform the ServicesSubcontractor’s Activities, achieve Completion or otherwise meet its obligations under the Subcontract; and a subsubcontractor’s ability to perform its activities in accordance with the relevant subsubcontract, including any potential or actual change in in: the ConsultantSubcontractor’s financial viability; or a subsubcontractor’s financial viability. The Contractor's ’s Representative may (in its absolute discretion) at any time request the Consultant Subcontractor to: provide the Contractor's ’s Representative with a solvency statement in the form required by the Contractor with respect to to: the ConsultantSubcontractor, properly completed and duly executed by the ConsultantSubcontractor; or a subsubcontractor, properly completed and ensure duly executed by the subsubcontractor; ensure: its Financial Representative is available available; and each subsubcontractor makes its Financial Representative available, to provide the Contractor’s Representative and any independent financial adviser engaged by the Contractor with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the Contractor, the Contractor's ’s Representative and the independent financial adviser engaged by the Contractor for the purpose of demonstrating that that: the Consultant Subcontractor has the financial viability necessary to perform the ServicesSubcontractor’s Activities, achieve Completion and otherwise meet its obligations under the SubcontractSubcontract (including the payment of all subsubcontractors in accordance with paragraph ()); or a subsubcontractor has the financial viability necessary to perform its activities in accordance with the relevant subsubcontract. If the Contractor considers (in its absolute discretion) that there could be or has been a change in in: the ConsultantSubcontractor’s financial viability viability; or a subsubcontractor’s financial viability, which could adversely affect affect: the ConsultantSubcontractor’s ability to perform the ServicesSubcontractor’s Activities, achieve Completion or otherwise meet its obligations under the Subcontract; or a subsubcontractor’s ability to perform its activities in accordance with the relevant subsubcontract, the Contractor’s Representative may (in its absolute discretion) direct the Consultant Subcontractor to take such steps as the Contractor considers necessary to secure the performance of the ServicesSubcontractor’s Activities, the Completion of the Subcontract Works or each Stage and the meeting of its obligations under the Subcontract, including requiring the Consultant Subcontractor to: provide additional Approved Security in the form and for an amount required by the Contractor under clause 4.1; provide a deed Deed of guaranteeGuarantee, undertaking or substitution Undertaking and Substitution in the form required by the Contractor; establish a trust account for the payment of subsubcontractors on the terms (including any trust deed) required by the Contractor; provide the Consultant Deeds a Subcontractor Deed of Covenant; or provide collateral warranties Collateral Warranties. If the Contractor’s Representative gives a direction under paragraph (), then the Subcontractor must take such steps as the Contractor considers necessary to better secure a subsubcontractor’s ability to perform its activities in accordance with the form required relevant subsubcontract, including any of the steps notified by the Contractor. The Consultant Subcontractor acknowledges and agrees that: nothing in clause 21 24. will limit, reduce, or otherwise affect any of the rights of the Contractor under the Subcontract or otherwise at law or in equity; neither the Contractor nor the Contractor's ’s Representative is required to exercise any discretion under clause 21 24. for the benefit of the Consultant; clause 21 does not give the Consultant Subcontractor (or any rights; and the exercise or failure to exercise a discretion under clause 21 is not capable of being the subject of a dispute or difference for the purposes of clause 13.1 or otherwise subject to review.subsubcontractor);

Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.210.2 or 10A.2 (as the case may be), it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract; and acknowledges and agrees that the Contractor has: has entered into the Subcontract; this Subcontract and if applicable, has made payments to the Consultant under clause 11.5; and if applicable, elected to proceed to 10.5 or 10A.4 (as the Delivery Phasecase may be), strictly on the basis of, of and in reliance upon, upon the obligations and warranties set out in clause 2119. The Consultant must keep the Contractor's Representative fully and regularly informed as to all financial viability matters which could adversely affect the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, including any potential or actual change in the Consultant’s 's financial viability. The Contractor's Representative may (in its absolute discretion) at any time request the Consultant to: provide the Contractor's Representative with a solvency statement in the form required by the Contractor with respect to to: the Consultant, properly completed and duly executed by the Consultant; or a subconsultant, properly completed and ensure duly executed by the subconsultant; make: its Financial Representative is available available; and ensure a subconsultant makes its Financial Representative available, to provide the Contractor’s 's Representative and any independent financial adviser engaged by the Contractor Commonwealth with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the Contractor, the Contractor's Representative and the independent financial adviser engaged by the Contractor for the purpose of demonstrating that the Consultant has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract. If the Contractor considers (in its absolute discretion) that there could be or has been a change in the Consultant’s 's financial viability viability, which could adversely affect the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, the Contractor’s 's Representative may (in its absolute discretion) direct the Consultant to take such steps as the Contractor considers necessary to secure the performance of the Services, Completion and the meeting of its obligations under the Subcontract, including requiring the Consultant to: provide a deed of guarantee, undertaking or substitution in the form required by the Contractor; provide the Consultant Deeds of Covenant; or provide collateral warranties in the form required by the Contractor. The Consultant acknowledges and agrees that: nothing in clause 21 19 will limit, reduce, or otherwise affect any of the rights of the Contractor under other provisions of the Subcontract or otherwise at law or in equity; neither the Contractor nor the Contractor's Representative is required to exercise any discretion under clause 21 19 for the benefit of the ConsultantConsultant (or any subconsultant); clause 21 19 does not give the Consultant (or any subconsultant) any rights; and (the exercise or failure to exercise a discretion under clause 21 19 is not capable of being the subject of a dispute or difference for the purposes of clause 13.1 12.1 of the Subcontract or otherwise subject to review.

Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 11.210.2 or 10A.2 (as the case may be), it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract; and acknowledges and agrees that the Contractor has: has entered into the Subcontract; this Subcontract and if applicable, has made payments to the Consultant under clause 11.5; and if applicable, elected to proceed to 10.5 or 10A.4 (as the Delivery Phasecase may be), strictly on the basis of, of and in reliance upon, upon the obligations and warranties set out in clause 21. 19.. The Consultant must keep the Contractor's Representative fully and regularly informed as to all financial viability matters which could adversely affect the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, including any potential or actual change in the Consultant’s 's financial viability. The Contractor's Representative may (in its absolute discretion) at any time request the Consultant to: provide the Contractor's Representative with a solvency statement in the form required by the Contractor with respect to to: the Consultant, properly completed and duly executed by the Consultant; or a subconsultant, properly completed and ensure duly executed by the subconsultant; make: its Financial Representative is available available; and ensure a subconsultant makes its Financial Representative available, to provide the Contractor’s 's Representative and any independent financial adviser engaged by the Contractor Commonwealth with financial information and documents (including internal monthly management accounts), answer questions, co-operate with and do everything necessary to assist the Contractor, the Contractor's Representative and the independent financial adviser engaged by the Contractor for the purpose of demonstrating that the Consultant has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Subcontract. If the Contractor considers (in its absolute discretion) that there could be or has been a change in the Consultant’s 's financial viability viability, which could adversely affect the Consultant’s 's ability to perform the Services, achieve Completion or otherwise meet its obligations under the Subcontract, the Contractor’s 's Representative may (in its absolute discretion) direct the Consultant to take such steps as the Contractor considers necessary to secure the performance of the Services, Completion and the meeting of its obligations under the Subcontract, including requiring the Consultant to: provide a deed of guarantee, undertaking or substitution in the form required by the Contractor; provide the Consultant Deeds of Covenant; or provide collateral warranties in the form required by the Contractor. The Consultant acknowledges and agrees that: nothing in clause 21 19. will limit, reduce, or otherwise affect any of the rights of the Contractor under other provisions of the Subcontract or otherwise at law or in equity; neither the Contractor nor the Contractor's Representative is required to exercise any discretion under clause 21 19. for the benefit of the Consultant; clause 21 does not give the Consultant (or any rights; and the exercise or failure to exercise a discretion under clause 21 is not capable of being the subject of a dispute or difference for the purposes of clause 13.1 or otherwise subject to review.subconsultant);