Fiscal Solvency Sample Clauses

The Fiscal Solvency clause establishes requirements for a party to maintain sufficient financial stability throughout the duration of an agreement. Typically, this clause obligates the party to demonstrate ongoing financial health, such as by providing regular financial statements or meeting specific financial ratios. Its core function is to ensure that the party remains capable of fulfilling its contractual obligations, thereby reducing the risk of default due to insolvency.
POPULAR SAMPLE Copied 1 times
Fiscal Solvency. As of the Execution Date, Contractor’s statutory surplus is at or above the Regulatory Action Level as defined in the risk-based capital regulations applicable to designated HMO or Insurer’s licenses in the Commonwealth. The Contractor is not aware of any impending changes to its financial structure that could adversely impact its compliance with these requirements or its ability to pay its debts as they come due generally. The Contractor has not filed for protection under any Commonwealth or federal bankruptcy laws. None of the Contractor’s property, plant or equipment has been subject to foreclosure or repossession within the preceding ten (10)-year period, and the Contractor has not had any debt called prior to expiration within the preceding ten (10)-year period.
View SourceView Similar (13)
Fiscal Solvency. 4.1.1 HMO must be and remain in full compliance with all state and federal solvency requirements for HMOs, including but not limited to all reserve requirements, net worth standards, debt-to-equity ratios, or other debt limitations. 4.1.2 If HMO becomes aware of any impending changes to its financial or business structure which could adversely impact its compliance with these requirements or its ability to pay its debts as they come due, HMO must notify TDH immediately in writing. If HMO becomes aware of a take-over or assignment which would require the approval of TDI or TDH, HMO must notify TDH immediately in writing. 4.1.3 HMO must not have been placed under state conservatorship or receivership or filed for protection under federal bankruptcy laws. None of HMO's property, plant or equipment must have been subject to foreclosure or repossession within the preceding 10-year period. HMO must not have any debt declared in default and accelerated to maturity within the preceding 10-year period. HMO represents that these statements are true as of the contract effective date. HMO must inform TDH within 24 hours of a change in any of the preceding representations. 1999 Renewal Contract Tarrant Service Area 27 August 9, 1999 28
View SourceView Similar (4)
Fiscal Solvency. 4.1.1 HMO must be and remain in full compliance with all state and federal solvency requirements for HMOs, including but not limited to all reserve requirements, net worth standards, debt-to-equity ratios, or other debt limitations. 4.1.2 If HMO becomes aware of any impending changes to its financial or business structure which could adversely impact its compliance with these requirements or its ability to pay its debts as they come due, provide services under this contract, or if HMO becomes aware of a take-over or assignment which would require approval of TDI or TDH, HMO must notify TDH immediately in writing.
View Source
Fiscal Solvency. 21 4.2 MINIMUM NET WORTH................................................ 22 4.3
View Source
Fiscal Solvency. HMO is and shall remain in full compliance with all State and federal solvency requirements for HMOs, including but not limited to, all reserve requirements, net worth standards, debt to equity ratios or other debt limitations.
View Source
Fiscal Solvency 
View Source

Related to Fiscal Solvency

  • Financial Solvency Both before and after giving effect to the transactions contemplated in the Loan Documents, none of the Borrower or its Affiliates: (a) was or will be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) has unreasonably small capital or is engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Affiliate are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intends to hinder, delay or defraud either its present or future creditors; and (e) at this time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

  • General Solicitation Such Purchaser is not purchasing the Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

  • No Directed Selling Efforts or General Solicitation Neither the Company nor any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of any of the Securities.

  • No General Solicitation; Placement Agent’s Fees Neither the Company, nor any of its Subsidiaries or affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities. The Company shall be responsible for the payment of any placement agent’s fees, financial advisory fees, or brokers’ commissions (other than for Persons engaged by any Buyer or its investment advisor) relating to or arising out of the transactions contemplated hereby, including, without limitation, placement agent fees payable to the Placement Agent in connection with the sale of the Securities. The fees and expenses of the Placement Agent to be paid by the Company or any of its Subsidiaries are as set forth on Schedule 3(g) attached hereto. The Company shall pay, and hold each Buyer harmless against, any liability, loss or expense (including, without limitation, attorney’s fees and out-of-pocket expenses) arising in connection with any such claim. The Company acknowledges that it has engaged the Placement Agent in connection with the sale of the Securities. Other than the Placement Agent, neither the Company nor any of its Subsidiaries has engaged any placement agent or other agent in connection with the offer or sale of the Securities.

  • No General Solicitation Neither the Company nor any person acting on behalf of the Company has offered or sold any of the Securities by any form of general solicitation or general advertising. The Company has offered the Securities for sale only to the Purchasers and certain other “accredited investors” within the meaning of Rule 501 under the Securities Act.