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Going Concern Qualification definition

Going Concern Qualification means a finding by an independent accounting firm that the carrying value of an entity’s assets will be realized and its liabilities will be liquidated in the ordinary course of continuing business activity.
Going Concern Qualification means an opinion of an independent accounting firm auditor that there is substantial doubt regarding the entity's ability to continue into the future, generally defined as the following year.
Going Concern Qualification. ’ means a qualification expressed pursuant to Statement of Auditing Standards No. 59, ‘‘The Auditor’s Consideration of an Entity’s Ability to Continue As a Going Concern.’’

Examples of Going Concern Qualification in a sentence

  • As a result, Borrower is requesting that the Required Lenders waive any Default or Event of Default arising as a result of the Annual Financial Statements for the fiscal year ended December 31, 2007 being subject to the Going Concern Qualification (the “Subject Event of Default”).

  • As part of its due diligence review, the Authority staff will review the Most Recent Audited Financial Statements of the Applicant or the California nonprofit corporation of which the Applicant is an operating entity to ensure there is no Going Concern Qualification language as part of the audit.

  • Such checking shall not affect the Contractor‟s responsibilities.

  • Other than with respect to the Going Concern Qualification and the Applicable 2019 Financial Statements Delivery Deadline, the Waiver does not waive any other requirement with respect to delivery of the 2019 Financial Deliverable Package.

  • Subject to the terms and conditions set forth herein, the Lenders signatory hereto hereby waive any Default or Event of Default arising solely from the Borrower’s delivery of an audit report containing the Going Concern Qualification with respect to the 2008 Audited Financial Statements.

  • Subject to the terms and conditions set forth herein, effective as of April 29, 2020 (the “Effective Date”), the Required Lenders hereby waive the Specified Defaults arising solely from (a) the Borrower’s delivery of an audit report of the Parent and its Subsidiaries containing the Going Concern Qualification with respect to the 2019 Audited Financial Statements and (b) the Borrower’s delivery of the 2019 Financial Deliverable Package after the Applicable 2019 Financial Statements Delivery Deadline.

  • The Default Waiver is granted only with respect to the Going Concern Qualification relating to the 2008 Audited Financial Statements, and shall not apply to any financial statements for any other fiscal year, any other violation of Section 5.5(a) of the Credit Agreement, or any actual or prospective default or violation of any other provision of the Loan Agreement or any other Loan Document.

  • Renatus Going Concern Qualification; Year-End Debt Service Funding Issues St. Renatus has received a going concern qualification with its 2017 Audit Opinion.

  • Subject to the terms and conditions set forth herein, the Lenders signatory hereto hereby waive the Specified Default arising solely from the Borrowers' delivery of an audit report containing the Going Concern Qualification with respect to the 2018 Audited Financial Statements.

  • An historic deficit led to a Going Concern Qualification between 2012-2015.


More Definitions of Going Concern Qualification

Going Concern Qualification means a modification by an independent auditor of the audit opinion on an entity’s financial statements prepared under going concern basis of accounting when it has been determined that the liquidation of the entity’s assets and liabilities is imminent.
Going Concern Qualification means a qualification expressed pursuant to Statement of
Going Concern Qualification means, with respect to any financial statements, any note or similar qualification from the Company’s auditors that the Company may not have sufficient funds or generate sufficient revenue to satisfy its obligations as they come due.
Going Concern Qualification means an assumption by an auditor that the carrying value of an entity's assets will be realized and its liabilities will be liquidated in the ordinary course of continuing business activity.
Going Concern Qualification means a qualification expressed pursuant to Statement of Auditing Standards No. 59, ‘‘The Auditor’s Consideration of an Entity’s Ability to Continue As a Going Concern.’’ ‘‘Insurance Corporation’’ means the Farm Credit System Insurance Corporation.
Going Concern Qualification means a “going concern” or like qualification or exception in any opinion or document accompanying any audited financial statement.

Related to Going Concern Qualification

  • pre-qualification means a screening process designed to ensure that invitations to bid are confined to capable providers;

  • Monthly Qualification Cycle means a period beginning one (1) Business Day prior to the first day of the current Statement Cycle through one (1) Business Day prior to the close of the current Statement Cycle.

  • Minimum Qualifications means the requirements of education, training, experience and other basic qualifications for a job.

  • Prequalification means the process set out in the Rules for determining whether an applicant is eligible to bid in a capacity auction in respect of a CMU;

  • Qualification means any degree, diploma or certificate conferred upon a person after having been examined in respect of that person’s proficiency in a particular field of study;

  • Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of the Borrower, any qualification or exception to such opinion or certification:

  • Qualification Period means the period of time in which a CDC Owner, Operator or a Qualified Colocation Tenant is eligible for Program benefits and means specifically (a) in respect to a CDC Owner or Operator, as defined in subsection IX.A. and (b) in respect to a CDC Qualified Colocation Tenant, as defined in subsection IX.B.

  • Qualification Date means the date as of which the Offering Statement was or will be qualified with the Commission pursuant to Regulation A, the Act and the Rules and Regulations; and

  • Statement of Qualifications means a written statement submitted to a procurement unit in response to a request for statement of qualifications.

  • Qualified small business means an entity, whether organized as a corporation, partnership, or proprietorship, organized for profit with its principal place of business located within this state and which meets the following criteria:

  • Request for Qualifications means all materials and

  • Small business concern means a concern, including its affiliates, that is independently owned and operated, not dominant in the field of operation in which it is bidding on Government contracts, and qualified as a small business under the criteria in 13 CFR Part 121 and size standards in this solicitation.

  • Business concern means any corporation, company, limited liability company, partnership, joint venture, trust, unincorporated association or any other form of association.

  • Independent Qualified Party means an investment banking firm, accounting firm or appraisal firm of national standing; provided, however, that such firm is not an Affiliate of the Company.

  • HUBZone small business concern means a small business concern that appears on the List of Qualified HUBZone Small Business Concerns maintained by the Small Business Administration.

  • Small disadvantaged business concern means a small business concern that represents, as part of its offer that—

  • Women-owned small business concern means a small business concern-

  • Data qualifier means a specified character (or string of characters) that immediately precedes a data field that defines the general category or intended use of the data that follows.

  • Qualifications , in relation to an employee, means any degree, diploma or other academic, technical or professional qualification relevant to the position which he held.

  • materiality means the point at which the net asset value of the Share class is impacted to the extent described in Section 2.04(a)(iii) below;

  • Veteran-owned small business concern means a small business concern—

  • Qualified nonprofit organization means, with respect to a Project, an organization exempt from federal income tax under Section 501(c) (3) or (4) of the Internal Revenue Code, which is not and during the Compliance Period will not be affiliated with or controlled by a for-profit organization, whose exempt purposes include the fostering of low income housing, which owns an interest in the Project, which will materially participate in the development and operation of the Project throughout the Compliance Period, and which is not affiliated with or controlled by a for-profit organization.

  • Qualified business means a for-profit business that obtains services relating to that business from 30 or fewer employees or employees of independent contractors performing services substantially similar to employees during a random week in the year ending on the tax day. If a person is a unified business group as that term is defined in section 117 of the Michigan business tax act, 2007 PA 36, MCL 208.1117, the number of employees from whom services are obtained includes all employees of the unitary business group and employees of independent contractors of the unitary business group rendering services to the qualified business.

  • Small Diversity business concern means a small business concern that is at least fifty-one (51) percent unconditionally owned by one or more individuals who are both socially and economically diverse, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one or more socially and economically diverse individuals and that has its management and daily business controlled by one or more such individuals. This term also means a small business concern that is at least fifty-one (51) percent unconditionally owned by an economically diverse Indian tribe or Native Hawaiian Organization, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one of these entities, that has its management and daily business controlled by members of an economically diverse Indian tribe or Native Hawaiian organization.

  • Partnership Material Adverse Effect means any change, circumstance, effect or condition that is, or could reasonably be expected to be, materially adverse to the business, financial condition, assets, liabilities or results of operations of the Partnership Group, taken as a whole.

  • Emerging small business means a small business concern whose size is no greater than 50 percent of the numerical size standard for the NAICS code designated.