Sufficient working capital Sample Clauses
The 'Sufficient working capital' clause requires a party, typically a business or contractor, to maintain enough liquid assets to meet its short-term financial obligations throughout the duration of an agreement. This means the party must have adequate cash flow or readily available funds to pay suppliers, employees, and other operational expenses as they arise. By including this clause, the agreement ensures that the party remains financially stable and capable of fulfilling its contractual commitments, thereby reducing the risk of default or disruption due to financial shortfalls.
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Sufficient working capital. Having regard to existing bank and other facilities, the Windrace Group has sufficient working capital for the purposes of continuing to carry on its business in its present form, for the period of twelve (12) months after Closing and for the purposes of executing, carrying out and fulfilling, in accordance with their terms, all obligations to be performed within such twelve (12) month period pursuant to all orders, projects and contractual obligations which are binding upon it and remain outstanding.
Sufficient working capital. The Purchaser represents and warrants that as of the date of the execution of this Agreement it will have sufficient cash and working capital to continue business in the ordinary course for a minimum of six months.
Sufficient working capital. Franchisee shall maintain an adequate sales force to serve properly all customers, and shall carry at all times a stock of merchandise of such size, character, quality and price to produce the maximum return to Franchisee and so as to produce all of the gross revenue which may be produced by such manner of operation.
Sufficient working capital. 17.1.1 Each of Fugro and CGG, shall ensure the transfer of the working capital existing at Completion Date in the Fugro Contributed Business and CGG Contributed Business, respectively, through the transfers of shares constituting the Fugro Contribution and the CGG Contribution, respectively. Such transfer of the working capital shall be effected on the Completion Date.
17.1.2 The working capital of the companies forming part of the Fugro Contribution and the CGG Contribution, respectively, shall be at a normal level at the time of contribution to the Company. Within sixty (60) days after the Completion Date, the Shareholders shall in good faith analyse and review the level of working capital by Fugro in respect of the Fugro Contribution and by CGG in respect of the CGG Contribution. The Shareholders shall provide the other Shareholder and the Company with all information which they reasonably require to conduct the analysis and review as contemplated by this Clause 17.1.2.
(a) If it is evident that the working capital contributed by Fugro or CGG, respectively, over such period was insufficient at the time of contribution to the Company, Fugro and/or CGG, as the case may be, shall pay the Company an amount equal to the difference between the actual working capital contributed by Fugro and/or CGG, respectively, and the amount of working capital which the Shareholders agree would have been appropriate over such period.
(b) If it is evident that the working capital contributed by Fugro or CGG, respectively, over such period was more than sufficient at the time of contribution to the Company, the Company shall pay Fugro and/or CGG, as the case may be, an amount equal to the difference between the actual working capital contributed by Fugro and/or CGG, respectively, and the amount of working capital which the Shareholders agree would have reasonably been sufficient over such period.
Sufficient working capital. (a) Schedule 2.4(a)(i) sets forth the estimated Working Capital of the Company and the Joint Venture as of June 30, 2010. Seller has represented to Buyer that the Working Capital of the Company and the Joint Venture as of June 30, 2010 is and that the Working Capital of the Company and the Joint Venture as of the Effective Time (“Effective Time Working Capital”) will be a reasonably sufficient level of Working Capital to support the operations of the Business in a manner consistent with the historical operations of the Business and assuming normal operating conditions. If within ninety (90) days following the Closing Date, Buyer reasonably determines that the Effective Time Working Capital was not at a reasonably sufficient level at the Effective Time, then Buyer may notify Seller in writing (within such 90 day period) of any deficiency (“Working Capital Deficiency Notice”) which notice shall specify in detail the areas in which the Effective Time Working Capital was not sufficient. Following its receipt of a timely Working Capital Deficiency Notice, Seller shall cooperate with Buyer to determine whether the Effective Time Working Capital was or was not sufficient at the Effective Time and if Seller and Buyer cannot come to a mutual agreement regarding the sufficiency of Effective Time Working Capital or any required payments by Seller to Buyer to cure any claimed insufficiency, then either the Seller or Buyer may submit the issue of whether or not the Effective Time Working Capital was sufficient at the Effective Time to arbitration pursuant to the arbitration provisions set forth on Schedule 2.4(a)(ii) attached hereto.
(b) For purposes of this Section 2.4, Effective Time Working Capital shall be deemed to be sufficient if the level of such working capital was consistent with historical levels of working capital maintained by the Company and the Joint Venture with respect to their operations taking into consideration the known industry conditions and existing commercial arrangements of the Company and the Joint Venture as of the Effective Time. In no event will Effective Time Working Capital be considered to not be sufficient due to a shortfall in Working Capital resulting from changes occurring after the Effective Time in industry, market or other conditions which are not normal and customary for the operations of the Company and the Joint Venture including: (i) changes in commodities prices or in general economic conditions in the industries or markets ...
Sufficient working capital. (a) Schedule 2.4(a)(i) sets forth the estimated Working Capital of the Companies and the Joint Venture as of June 30, 2010. Seller has represented to Buyer that the Working Capital of the Companies and the Joint Venture as of June 30, 2010 is and that the