FDE Group means the [Supplier, Key Sub-contractors, [the Guarantor] and the [Monitored Suppliers]];
FDE Group. “Financial Distress Event” means the [Supplier, Subcontractors, [the Guarantor] the credit rating of an FDE Group entity dropping below the applicable Financial Metric; an FDE Group entity issuing a profits warning to a stock exchange or making any other public announcement, in each case about a material deterioration in its financial position or prospects; there being a public investigation into improper financial accounting and reporting, suspected fraud or any other impropriety of an FDE Group entity; an FDE Group entity committing a material breach of covenant to its lenders; a Subcontractor notifying CCS or the Buyer that the Supplier has not satisfied any material sums properly due under a specified invoice and not subject to a genuine dispute; any of the following: commencement of any litigation against an FDE Group entity with respect to financial indebtedness greater than £5m or obligations under a service contract with a total contract value greater than £5m; non-payment by an FDE Group entity of any financial indebtedness; any financial indebtedness of an FDE Group entity becoming due as a result of an event of default; the cancellation or suspension of any financial indebtedness in respect of an FDE Group entity; or the external auditor of an FDE Group entity expressing a qualified opinion on, or including an emphasis of matter in, its opinion on the statutory accounts of that FDE entity; in each case which the Buyer reasonably believes (or would be likely to reasonably believe) could directly impact on the continued performance and delivery of the Services in accordance with the Call-Off Contract; and any two of the Financial Metrics for the Supplier not being met at the same time. “Parent Undertaking” has the meaning set out in section 1162 of the Companies Act 2006; “Public Sector Dependent Supplier” means a supplier where that supplier, or that supplier’s group has Annual Revenue of £50 million or more of which over 50% is generated from UK Public Sector Business; “Strategic Supplier” means those suppliers to government listed at xxxxx://xxx.xxx.xx/government/publications/strat egic-suppliers; “Subsidiary Undertaking” has the meaning set out in section 1162 of the Companies Act 2006; “Supplier Group” means the Supplier, its Dependent Parent Undertakings and all Subsidiary Undertakings and Associates of such Dependent Parent Undertakings; “UK Public Sector Business” means any goods, service or works provision to UK public sector bodies, incl...
FDE Group has the meaning given in Schedule 10 (Financial Distress);
Examples of FDE Group in a sentence
The Supplier warrants and represents to the Authority for the benefit of the Authority that as at the Effective Date: the long term credit ratings issued for each entity in the FDE Group by each of the Rating Agencies are as set out in Annex 2 of this Schedule; and the financial position or, as appropriate, the financial performance of each of the Supplier, Guarantor and Key Sub-contractors satisfies the Financial Target Thresholds.
The Supplier shall promptly notify (or shall procure that its auditors promptly notify) the Authority in writing if there is any downgrade in the credit rating issued by any Rating Agency for any entity in the FDE Group (and in any event within 5 Working Days of the occurrence of the downgrade).
More Definitions of FDE Group
FDE Group any Contract Change which the Parties agree to expedite in accordance with Paragraph 7 of Schedule 9. means the Supplier and any of it’s its key sub-contractors "FOIA" the Freedom of Information Act 2000 and any subordinate legislation made under this Act from time to time together with any guidance and/or codes of practice issued by the Information Commissioner or relevant government department in relation to such legislation.
FDE Group means, for the relevant Call‑off Contract, the Supplier, the Guarantor (if any) and Key Sub‑contractors (if any)