Financial Compliance definition

Financial Compliance means that the Company has either (i) incurred Subordinated Debt (or other capital which is junior in right of payment to the

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Financial Compliance means that the Company is in compliance with the following financial standards and has delivered the compliance certificate in accordance with SECTION 7.1(D) evidencing such compliance for the most recent period:

Financial Compliance and the Company's being "in Financial Compliance", shall mean, at any date, that the Company and the Consolidated Subsidiaries: (a) are (with respect to any such date which is the last day of a calendar month), or were (with respect to any other date) on the last day of the calendar month immediately preceding such date, in compliance with the financial covenants set out in Sections 8.19, 8.20, 8.21, 8.22, 8.23, 8.24, 8.25 and 8.26 hereof, and (b) have (with respect to any such date which is the last day of a calendar month), or had (with respect to any other date) on the last day of the calendar month immediately preceding such date, Cumulative Adjusted Liquidity Capacity greater than zero. To the extent that any provisions hereof refer to the Company's being (or not being) in Financial Compliance before or after a specified event (e.g. an incurrence of Indebtedness referred to in Section 8.10, an Investment referred to in Section 8.13 or 8.25, or a sale referred to in Section 8.14) and such event occurs on a date which is not the last day of a calendar month, then such Financial Compliance shall be determined as of the end of the calendar month immediately preceding such event, giving effect to such event on a pro-forma basis as of the end of such preceding calendar month.

Examples of Financial Compliance in a sentence

• Neither Company nor HEI shall use the Financial Compliance Information for any purpose other than as permitted under this Article 24 (Financial Compliance).

• Company shall, and shall cause HEI to, maintain the confidentiality of the Financial Compliance Information as provided in this Article 24 (Financial Compliance).

• Company shall limit access to such Financial Compliance Information to persons involved with such compliance matters and restrict persons involved in Company's monitoring, dispatch or scheduling of Seller and/or Facility, or the administration of this Agreement, from having access to such Financial Compliance Information (unless approved in writing in advance by Seller).

• If such protective order or other remedy is not obtained, or if Seller waives compliance with the provisions at this Article 24 (Financial Compliance), Recipient shall furnish only that portion of the Financial Compliance Information which it is legally required to so furnish and to use reasonable efforts to obtain assurance that confidential treatment will be accorded to any disclosed material.

• The obligation of nondisclosure and restricted use imposed on each Recipient under this Article 24 (Financial Compliance) shall not extend to any portion(s) of the Financial Compliance Information which (i) was known to such Recipient prior to receipt, or (ii) without the fault of such Recipient is available or becomes available to the general public, or (iii) is received by such Recipient from a Third Party not bound by an obligation or duty of confidentiality.

• Financial Compliance Audit Attachment, Exhibit 2 indicates state financial assistance awarded through the AAAPP by this contract.

• Company may share the Financial Compliance Information on a confidential basis with HEI and the independent auditors and attorneys for HEI.

• The obligation of nondisclosure and restricted use imposed on each Recipient under this Article 23 (Financial Compliance) shall not extend to any portion(s) of the Financial Compliance Information which (a) was known to such Recipient prior to receipt; (b) without the fault of such Recipient, is available or becomes available to the general public; or (c) is received by such Recipient from a third party not bound by an obligation or duty of confidentiality.

• If such protective order or other remedy is not obtained, or if Seller waives compliance with the provisions at this Article 23 (Financial Compliance), Recipient shall furnish only that portion of the Financial Compliance Information which it is legally required to so furnish and to use reasonable efforts to obtain assurance that confidential treatment will be accorded to any disclosed material.

• Company shall, and shall cause HEI to, maintain the confidentiality of the Financial Compliance Information as provided in this Article 23 (Financial Compliance).

More Definitions of Financial Compliance

Financial Compliance is added in proper alphabetical order to read as follows: