Financial Distress definition
Financial Distress or “financial emergency” means that a recipient has filed for bankruptcy protection in federal court or has taken either of the preliminary actions for bankruptcy protection pursuant to Section 53760 of the Government Code.
Financial Distress means a finding by the Department following the analysis of an audit, complaint or data indicating that the financial condition of the facility threatens the health or safety of a resident(s) of a facility. “Generally Accepted Accounting Principles (GAAP)” means those principles that are recognized as the
Financial Distress means circumstances where the Recipient is unable to pay its debts or has committed a material breach of its agreements with any creditors:
Examples of Financial Distress in a sentence
Financial distress or loss shall be determined on the basis of a comparison of financial data for comparable periods of time and need not necessarily be based on data at the year’s end.
More Definitions of Financial Distress
Financial Distress means a condition where a banking institution, microfinance banking institution or controlling company cannot meet, or has difficulty paying off, its financial obligations to its creditors, typically due to high fixed costs, illiquid assets or revenues sensitive to economic downturns;
Financial Distress means a covered property that, at the time benchmarking is conducted:
Financial Distress shall be deemed to exist if: • the Company reasonably believes that, as a result of a material adverse change in market conditions and/or the Company’s operating performance subsequent to the Issue Date, the Company will be unable to pay its debts as they become due during the applicable terms of the Senior Facilities and as a result, the Company must restructure the payment schedule thereunder; and • in the opinion of an independent, internationally recognized financial advisor retained by the Company, the Company will be unable to obtain debt or equity financing on commercially reasonable terms to repay the Senior Facilities.
Financial Distress has the meaning given to it in clause 17.6;
Financial Distress or “Financial Emergency” means that a Recipient has filed
Financial Distress means a forecast by the Provider of a loss in excess of the loss profile set out below over the remaining Contract Term, (provided always that any such forecast loss shall not have been caused by the Provider failing to act as a reasonably competent provider of the Services as set out in the Services Specification), any such forecast to be re-calculated at the end of each Contract Year to reflect the Provider's actual performance.
Financial Distress means any of the following: loss of income, increased expenses for doing essential work, increased expenses from COVID-19 health impacts, responsibilities arising from childcare or caring for a family member related to COVID-19 that impacts earnings or increases expenses, or other circumstances that increase expenses or reduces income. See California Code of Civil Procedure, Section 1179.02 (d).