FINANCIALLY CAPABLE Sample Clauses

FINANCIALLY CAPABLE. For purposes of this Section 8.2, "Financially Capable" shall mean that as of the Cancellation Date, Specialty Laboratories has, as determined by a financial statement audited by a certified public accountant, (a) a current ratio (I.E., current assets to current liabilities) of at least 1.5:1, (b) a net worth of at least Fifteen Million Dollars ($15,000,000.00), (c) net annual income of at least Six Million Dollars ($6,000,000.00), and (d) accounts receivable as a percentage of net revenue ("Accounts Receivable Percentage") which is not substantially greater than the Accounts Receivable Percentage on the date of this Third Amendment. Tenant shall, concurrently with Tenant's delivery of the Cancellation Notice to Landlord and/or, within ten (10) business days of Landlord's written request, given at any time prior to the Cancellation Date, deliver documentation demonstrating whether or not Specialty Laboratories is Financially Capable. Landlord shall have a reasonable approval right as to whether Specialty Laboratories is Financially Capable of performing the obligations of the Tenant with respect to Suite 500 for the remaining portion of the Suite 500 Term.
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FINANCIALLY CAPABLE. Buyer is financially capable of consummating the transactions contemplated on its part herein, and Buyer will fund the Purchase Price internally through existing corporate resources.

Related to FINANCIALLY CAPABLE

  • Partially Meets Standard The school has exhibited non-compliance with applicable laws, rules, regulations, or provisions of the performance certificate relating to the treatment of ELL students; however, matters of non-compliance are minor and quickly remedied, with documentation, by the governing board. 15 Does Not Meet Standard: The school exhibits frequent and/or significant non-compliance with applicable laws, rules, regulations, or provisions of the performance certificate relating to requirements regarding XXXx; and/or matters of non compliance are not quickly remedied, with documentation, by the governing board. 0 Notes 0

  • SUSPENSIVE CONDITIONS 2.1 This entire AGREEMENT is subject to the registration of transfer of ownership of the PROPERTY to the EMPLOYER. In the event that the PROPERTY is not transferred within 6 (six) months from date of signing of this Agreement by the CONTRACTOR, the CONTRACTOR reserves the right to: 2.1.1 increase the CONTRACT SUM, based on the current prices for the building materials, and the CONTRACTOR shall notify the EMPLOYER in writing of such increased cost and the EMPLOYER may then, at his/her option, cancel this agreement by providing written notice of cancellation to the CONTRACTOR within 5 (five) DAYS of receiving written notice from the CONTRACTOR in respect of the increased cost. Should written notice of cancellation not be forthcoming within the aforesaid period, the CONTRACTOR and the EMPLOYER shall proceed with the AGREEMENT at the increased CONTRACT SUM and the EMPLOYER shall be obliged to pay the increase in the CONTRACT SUM to the CONTRACTOR within 21 (twenty one) DAYS of receiving written notice from the CONTRACTOR in respect of the increased cost; or 2.1.2 cancel this AGREEMENT and the parties shall have no claim of whatsoever nature against each other. 2.2 This AGREEMENT is subject further to the EMPLOYER being offered a loan to be secured by a mortgage bond over the PROPERTY and improvements in the amount reflected in Schedule B or such lesser amount as the EMPLOYER may accept, within 30 (thirty) DAYS of the date of the CONTRACTOR’s signature of this AGREEMENT, which period may be extended in the CONTRACTOR’s sole discretion. Should no amount be inserted in the relevant field in the Schedule B, then the suspensive condition contained in this clause will not apply. In the event that the suspensive condition contained in this clause is not fulfilled, this AGREEMENT will lapse and the parties shall have no claim of whatsoever nature against each other.

  • Abnormally High Tenders 36.4 An abnormally high price is one where the tender price, in combination with other constituent elements of the Tender, appears unreasonably too high to the extent that the Procuring Entity is concerned that it (the Procuring Entity) may not be getting value for money or it may be paying too high a price for the contract compared with market prices or that genuine competition between Tenderers is compromised. 36.5 In case of an abnormally high tender price, the Procuring Entity shall make a survey of the market prices, check if the estimated cost of the contract is correct and review the Tender Documents to check if the specifications, scope of work and conditions of contract are contributory to the abnormally high tenders. The Procuring Entity may also seek written clarification from the tenderer on the reason for the high tender price. The Procuring Entity shall proceed as follows: i) If the tender price is abnormally high based on wrong estimated cost of the contract, the Procuring Entity may accept or not accept the tender depending on the Procuring Entity's budget considerations. ii) If specifications, scope of work and/or conditions of contract are contributory to the abnormally high tender prices, the Procuring Entity shall reject all tenders and may retender for the contract based on revised estimates, specifications, scope of work and conditions of contract, as the case may be. 36.6 If the Procuring Entity determines that the Tender Price is abnormally too high because genuine competition between tenderers is compromised (often due to collusion, corruption or other manipulations), the Procuring Entity shall reject all Tenders and shall institute or cause relevant Government Agencies to institute an investigation on the cause of the compromise, before retendering.

  • SUSPENSIVE CONDITION i) The contract only becomes binding and enforceable once: a. the Parties have signed this contract and the PRODUCER has received a MEATCO confirmation letter stipulating the applicable xxxxxxxxx period and cattle quantity to be delivered to MEATCO; b. MEATCO agrees to provide a xxxxxxxxx allocation to the PRODUCER on a first come first served basis principle, and at the sole discretion of MEATCO; and c. the PRODUCER has provided, within 10 business days of MEATCO’s request, a guarantee or security for the payment of the maximum penalty capable of being imposed in terms of clause A. vi) above to the satisfaction of MEATCO.

  • Unsafe Working Conditions Employees shall be recognized by the Employer to have the competence to determine what constitutes unsafe working conditions within their discipline. No employee shall be disciplined for refusal to work in a situation which is deemed unsafe beyond the reasonable requirements of the employee's job.

  • Medically Necessary In general, We will not Cover any dental service, procedure, treatment, test or device that We determine is not Medically Necessary. If an External Appeal Agent certified by the State overturns Our denial, however, We will Cover the service, procedure, treatment, test or device for which coverage has been denied, to the extent that such service, procedure, treatment, test or device, is otherwise Covered under the terms of this Contract.

  • Standard Conditions This Agreement shall include all of the standard conditions as detailed in Exhibit B, attached hereto and by this reference incorporated herein.

  • WORKPLACE FLEXIBILITY The employer must ensure that any Individual Flexibility Agreement (IFA) is genuinely agreed to by the employer and the employee and result in the employee being better off overall at the time the IFA is made than the employee would have been if no IFA had been agreed to. 8.1 Notwithstanding any other provision of the Agreement, the employer and an individual employee may agree to vary the application of certain terms of the Agreement to meet the genuine individual needs of the employer and the individual employee. The terms the employer and the individual employee may agree to vary are the application of those permitted under Section 172 of the FW Act, and relates only to:- 8.1.1 arrangements for when work is performed; 8.1.2 salary sacrifice arrangements; 8.1.3 reduction in ordinary hours; and 8.1.4 are not unlawful terms under Section 194 of the FW Act. 8.2 The employer and the individual employee must have genuinely made the IFA without coercion or duress. An IFA can only be entered into after the individual employee has commenced employment with the employer. 8.3 The IFA between the employer and the individual employee must: 8.3.1 be confined to a variation in the application of one or more of the terms listed in Clause 8.1; and 8.4 The IFA between the employer and the individual employee must also: 8.4.1 be in writing, name the parties to the IFA and be signed by the employer and the individual employee and, if the employee is under eighteen (18) years of age, the employee’s parent or guardian; 8.4.2 state each term of the Agreement that the employer and the individual employee have agreed to vary; 8.4.3 detail how the application of each term has been varied by agreement between the employer and the individual employee;

  • Smoking Persons working under Agreement shall adhere to local smoking policies. Smoking will only be permitted in posted areas or off premises.

  • Adverse Weather Conditions Except in emergency conditions, the Employer shall not require an employee to work outside under extreme weather conditions.

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