Termination for Deterioration of Financial Condition Sample Clauses

Termination for Deterioration of Financial Condition. Voya may terminate the Agreement in the event that: (1) BNY Mellon files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) BNY Mellon is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of BNY Mellon under a federal reorganization act or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of BNY Mellon; or (5) BNY Mellon becomes insolvent, suspends business or ceases to conduct its business in the ordinary course.
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Termination for Deterioration of Financial Condition. Either Party may immediately terminate this Agreement upon written notice to the other Party: (i) upon the filing by or with respect to the other Party of a petition in bankruptcy or insolvency under the Laws of any jurisdiction; (ii) a final adjudication that the other Party is bankrupt or insolvent; (iii) the filing or making of any statement or admission that the other Party is unable to pay its debts as they become due or that it is insolvent; or (iv) the making of any assignment for the benefit of creditors or similar process.
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Termination for Deterioration of Financial Condition. NAIC may terminate this MSA in the event that: (1) Cognizant files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Cognizant is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Cognizant under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Cognizant; (5) Cognizant becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Cognizant makes an assignment of its assets for the benefit of its creditors; (7) the occurrence of a material adverse change in Cognizant’s business, properties, financial condition or operations adversely affecting the provision of Services; (8) Cognizant’s external auditor gives Cognizant a “going concern” explanation or qualification; or (9) Xxxxx’x, Standard & Poor’s or Fitch, or other equivalent rating agency, lowers Cognizant’s credit rating below “investment grade” (e.g., in the case of Xxxxx’x, a rating lower than Baa3; in the case of Standard & Poor’s, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx’x, Standard & Poor’s or Fitch, an equivalent rating). Cognizant shall give NAIC prompt notice of any such event.
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Termination for Deterioration of Financial Condition. Voya may terminate this MSA in the event that: (1) Milliman files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Milliman is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Milliman under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Milliman; (5) Milliman becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Milliman makes an assignment of its assets for the benefit of its creditors; (7) Milliman’s external auditor gives Milliman a “going concern” explanation or qualification; or (8) Xxxxxxxx, Inc. defaults in the due observance or performance of any covenant, condition or agreement contained in any third party loan agreement, financing agreement or other financial instrument and such default is not subject to a good xxxxx xxxx fide dispute and continues un-remedied for a period of 30 days after written notice thereof from the applicable third party.
Sample 1
Termination for Deterioration of Financial Condition. Prudential Contracting Party may terminate this Agreement or an Engagement Schedule in the event that (1) Service Provider Contracting Party files a voluntary petition in bankruptcy or an involuntary petition is filed against it, (2) Service Provider Contracting Party is adjudged bankrupt, (3) a court assumes jurisdiction of the assets of Service Provider Contracting Party under a federal reorganization act or other statute, (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Service Provider Contracting Party, (5) Service Provider Contracting Party becomes insolvent, suspends business or ceases to conduct its business in the ordinary course, (6) Service Provider Contracting Party makes an assignment of its assets for the benefit of its creditors, (7) there is an occurrence of a material adverse change in Service Provider Contracting Party's business, properties, financial condition or operations, (8) Service Provider Contracting Party's external auditor gives Service Provider Contracting Party a "going concern" explanation or qualification or (9) Xxxxx'x, Standard & Poor's or Fitch, or other equivalent rating agency, lowers Service Provider Contracting Party's credit rating below "investment grade" (e.g., in the case of Xxxxx'x, a rating lower than Baa3; in the case of Standard & Poor's, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx'x, Standard & Poor's or Fitch, an equivalent rating). Service Provider Contracting Party shall give Prudential Contracting Party prompt notice of any such event. - Prudential Confidential-
Sample 1
Termination for Deterioration of Financial Condition. Voya may terminate this Agreement in the event that: (1) Supplier files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Supplier is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Supplier under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Supplier; (5) Supplier becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Supplier makes an assignment of its assets for the benefit of its creditors; (7) the occurrence of a material adverse change in Supplier's business, properties, financial condition or operations adversely affecting the provision of Services; (8) Supplier's external auditor gives Supplier a “going concern” explanation or qualification; or (9) Xxxxx'x, Standard & Poor's or Fitch, or other equivalent rating agency, lowers Supplier's credit rating below “investment grade” (e.g., in the case of Xxxxx'x, a rating lower than Baa3; in the case of Standard & Poor's, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx'x, Standard & Poor's or Fitch, an equivalent rating). Supplier shall give Voya prompt notice of any such event.
Sample 1

Related to Termination for Deterioration of Financial Condition

  • Investigation of Financial Condition Without in any manner reducing or otherwise mitigating the representations contained herein, Company shall have the opportunity to meet with Buyer's accountants and attorneys to discuss the financial condition of Buyer. Buyer shall make available to Company all books and records of Buyer.

  • Financial Condition of Company Any Credit Extension may be made to Company or continued from time to time, and any Hedge Agreements may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless of the financial or other condition of Company at the time of any such grant or continuation or at the time such Hedge Agreement is entered into, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor's assessment, of the financial condition of Company. Each Guarantor has adequate means to obtain information from Company on a continuing basis concerning the financial condition of Company and its ability to perform its obligations under the Credit Documents and the Hedge Agreements, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Company and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Company now known or hereafter known by any Beneficiary.

  • Changes in Financial Condition Since the date of the Financial Statements, there has not been:

  • Financial Condition of the Borrower The Loans may be made to the Borrower without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower at the time of such grant. Each Guarantor has adequate means to obtain information from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.

  • Financial Conditions Section 4.01. (a) The Recipient shall maintain or cause to be maintained a financial management system, including records and accounts, and prepare financial statements in a format acceptable to the Bank, adequate to reflect the operations, resources and expenditures in respect of the Project and each Sub-project (including its cost and the benefits to be derived from it).

  • Financial Condition There shall have been no material adverse change, as determined by Bank, in the financial condition or business of Borrower, nor any material decline, as determined by Bank, in the market value of any collateral required hereunder or a substantial or material portion of the assets of Borrower.

  • Solvent Financial Condition Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.

  • Tenant’s Financial Condition Within ten (10) days after written request from Landlord, Tenant shall deliver to Landlord such financial statements as Landlord reasonably requires to verify the net worth of Tenant or any assignee, subtenant, or guarantor of Tenant. In addition, Tenant shall deliver to any lender designated by Landlord any financial statements required by such lender to facilitate the financing or refinancing of the Property. Tenant represents and warrants to Landlord that each such financial statement is a true and accurate statement as of the date of such statement. All financial statements shall be confidential and shall be used only for the purposes set forth in this Lease.

  • Financial Condition Covenant Permit the Asset Coverage Ratio to be less than the Minimum Permitted Ratio; or in each case allow Indebtedness of the Borrower to exceed the limits set forth in the Borrower’s Prospectus or registration statement or allow Indebtedness to exceed the requirements of the 1940 Act.

  • Financial Condition of Borrower Any Credit Extensions may be made to Borrower or continued from time to time without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of Borrower. Each Guarantor has adequate means to obtain information from Borrower on a continuing basis concerning the financial condition of Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Borrower now known or hereafter known by any Beneficiary.

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