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 10.2: it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Contract (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 Commonwealth has entered into this Contract and if applicable, has made payments to the Consultant under clause 10.5, strictly on the basis of and in reliance upon the warranties set out in clause 18. The Consultant must pay all subconsultants in accordance with the payments terms in all subcontracts. The Consultant must keep the Commonwealth'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 Contract; and

Financial Viability. The Consultant: warrants that, on the Award Date and on the date of submitting each payment claim under clause 10.2: it has the financial viability necessary to perform the Services, achieve Completion and otherwise meet its obligations under the Contract (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 Commonwealth has entered into this Contract and if applicable, has made payments to the Consultant under clause 10.5, strictly on the basis of and in reliance upon the warranties set out in clause 18. .. The Consultant must pay all subconsultants in accordance with the payments terms in all subcontracts. The Consultant must keep the Commonwealth'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 Contract; and