Sufficient financial resources definition

Sufficient financial resources above means:
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Sufficient financial resources are to be defined as follows: Not less than an annual income of $200,000 for any natural person in each of the two most recent years or joint income with the person’s spouse of less than $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year, and such natural person satisfies such thresholds for such three years consistently either alone or jointly with a spouse. OR Any natural person whose individual net worth or joint net worth with that person’s spouse, at the time of his purchase exceeds $1,000,000. Net worth for this purpose means the fair market value of such person’s total assets less such person’s total liabilities; provided, that: (i) such person must exclude the value of his primary residence as an asset; and (ii) such person may generally exclude the amount of indebtedness secured by his primary residence as a liability except that he must deduct as liabilities (A) the amount by which such indebtedness exceeds the fair market value of his primary residence; and (B) the amount of such indebtedness incurred within the 60 days preceding the purchase date (other than as a result of the acquisition of his primary residence). OR Any business entity (i) in which all of the equity owners have “Sufficient Financial Resources”, (ii) any entity (other than a trust) not formed for the specific purpose of acquiring the Property or Properties, with total assets in excess of $5,000,000, and that amount must be shown on its most recently prepared financial statements, or (iii) a trust not formed for the specific purpose of acquiring the Property or Properties, whose purchase is directed by a sophisticated person and with total assets in excess of $5,000,000 and that amount must be shown on its most recently prepared financial statements. For this purpose, a sophisticated person means that such person must have sufficient knowledge and experience in financial and business matters to evaluate the merits and risks of the acquisition of the Property or Properties.
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Sufficient financial resources means Members are able to pay their debts as and when they fall due and are expected to continue in operation without any intention or necessity to liquidate or otherwise wind up their operations;
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Examples of Sufficient financial resources in a sentence

  • Table 9 addresses the need to have liquidity at hand in order to ensure smooth operations and as a result increase quality output.Table 9: Sufficient financial resources needed to ensure customer needs are met FrequencyPercentValidPercentCumulativePercentValid .004898.098.098.0Yes12.02.0100.0Total49100.0100.0 Figure 2 demonstrates that the company needs to prioritise health, safety and quality.

  • Sufficient financial resources need to be secured for the office of the national coordinator for the fight against trafficking in human beings.

  • This includes:• Adequate financial management systems and practices; and• Sufficient financial resources to carry the project to completion or through initial lease- up, as the case may be.When determining whether the developer has the financial capacity to undertake the project, the City will examine financial statements and audits to determine the developer’s net worth, portfolio risk, pre-development funding, and liquidity.

  • Sufficient financial resources are required to deliver and underpin all of the Council’s main priorities.

  • Sufficient financial resources are not universally defined, but the individual must be able to prove that they have sufficient resources to prevent themselves and their family from needing to claim state benefits.

  • Teachers returning from this military leave shall be given re-employment in the same capacity held before the leave of absence.

  • Sufficient financial resources means sufficient capital to buy; or sufficient income to raise a mortgage to buy; or a combination of both.

  • Sufficient financial resources (students and self-sufficient persons)See Annex H.

  • Sufficient financial resources must be available to Federal, State, and local agencies to address the long-term issue of controlling and reducing risk from Asian carp in both basins.o The USFWS has received additional agency funding for efforts outside of the Great Lakes, including the UMRB and the ORB.

  • Essentially, individuals are “programmed” by their cultural group to interpret and evaluate behaviors, ideas, relationships, and other people in specific ways that are unique to their group.

Related to Sufficient financial resources

  • Natural resources means all land, fish, shellfish, wildlife, biota,

  • economic resources means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds, but may be used to obtain funds, goods or services;

  • Public resources means water, fish, and wildlife and in addition means capital improvements of the state or its political subdivisions.

  • Historic resource means a publicly or privately owned historic building, structure, site, object, feature, or open space located within an historic district designated by the national register of historic places, the state register of historic sites, or a local unit acting under the local historic districts act, 1970 PA 169, MCL 399.201 to 399.215, or that is individually listed on the state register of historic sites or national register of historic places, and includes all of the following:

  • Forest means an area of land defined by the minimum values for area size, tree crown cover or an equivalent stocking level, and potential tree height at maturity at the place of growth of the trees as specified for each Member State in Annex II. It includes areas with trees, including groups of growing, young, natural trees, or plantations that have yet to reach the minimum values for tree crown cover or an equivalent stocking level or minimum tree height as specified in Annex II, including any area that normally forms part of the forest area but on which there are temporarily no trees as a result of human intervention, such as harvesting, or as a result of natural causes, but which area can be expected to revert to forest;

  • Cultural resources means archaeological and historic sites and artifacts, and traditional religious, ceremonial and social uses and activities of affected Indian tribes.

  • Water resources means all waters of the state occurring on the surface, in natural or artificial channels, lakes, reservoirs, or impoundments, and in subsurface aquifers, which are available, or which may be made available to agricultural, industrial, commercial, recreational, public, and domestic users;

  • Natural Resource or “Natural Resources” shall mean land, fish, wildlife, biota, air, water, ground water, drinking water supplies, and other such resources, belonging to, managed by, held in trust by, appertaining to, or otherwise controlled by the United States or the State.

  • GM Financial means AmeriCredit Financial Services, Inc. d/b/a GM Financial.

  • Resources shall have the meaning set forth in Section 23.1 of this Agreement.

  • Senior citizen center means a facility having the primary purpose of providing services to the aged as defined in Section 62A-3-101.

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • PEBB means the public employees benefits board.

  • CAISO Global Resource ID means the number or name assigned by the CAISO to the CAISO- Approved Meter.

  • Bancorp means Eagle Bancorp, Inc., a Maryland corporation.

  • Foster parent means an individual who operates a home that has been approved by the Department to provide care for an unrelated child or young adult placed in the home by the Department.

  • Community basin means an infiltration system, sand filter designed to infiltrate, standard constructed wetland, or wet pond, established in accordance with N.J.A.C. 7:8-4.2(c)14, that is designed and constructed in accordance with the New Jersey Stormwater Best Management Practices Manual, or an alternate design, approved in accordance with N.J.A.C. 7:8-5.2(g), for an infiltration system, sand filter designed to infiltrate, standard constructed wetland, or wet pond and that complies with the requirements of this chapter.

  • Operating Company Number (OCN means the numeric Company Code assigned by NECA identifying CLEC as a Resale or UNE provider.

  • Blackwater means wastewater contaminated by human body waste, toilet paper and any other material intended to be deposited in a receptor designed to receive urine or feces.

  • General Motors Financial Company, Inc. means General Motors Financial Company, Inc. (f/k/a AmeriCredit Corp.).

  • Transient non-community water system or “transient non-CWS” means a non- CWS that does not regularly serve at least 25 of the same persons over six months of the year.

  • financial group means a group that consists of a legal person or legal arrangement exercising control and coordinating functions over the rest of the group for the application of group supervision under the Core Principles, and its branches and subsidiaries that are financial institutions as defined in section 27A(6) of the MAS Act or the equivalent financial institutions outside Singapore;

  • Shoreline means the upper reaches of the wash of the waves, other than storm and seismic waves, at high tide during the season of the year in which the highest wash of the waves occurs, usually evidenced by the edge of vegetation growth, or the upper limit of debris left by the wash of the waves.

  • Annual Resource means a Generation Capacity Resource, an Annual Energy Efficiency Resource or an Annual Demand Resource.

  • Environmental Management Plan or “EMP” means the environmental management plan for the Project, including any update thereto, incorporated in the IEE;

  • community centre means any school, railway station, police station and other location providing a service to the community;