Sufficient Financial Standing definition
Sufficient Financial Standing means the ability to perform all the obligations of the relevant subsidiary under all outstanding Interface Agreements to which the relevant subsidiary is party. In reaching an opinion of the financial standing of the subsidiary in the light of the identity of the acquirer of such subsidiary, the Other Party shall be entitled to take into account such matters as it may consider appropriate, including the period remaining under Interface Agreements until they can be terminated by the Other Party in accordance with their terms, the net assets of the proposed acquirer, the working capital and cashflow position of the proposed acquirer, and the effect of the proposed transaction and any other related transaction on the ability of the subsidiary to perform the relevant obligations.
Sufficient Financial Standing means the ability to perform all of the obligations to be assumed by the Affiliate Transferee under all outstanding and prospective agreements that relate to the Company and/or any Designated Project (as applicable); “Survey” means has the meaning given in the TyphoonTM Equipment Purchase and Technical Support Agreement; “Shutdown Costs” means all costs associated with shutting down all activities of the Company including the costs associated with satisfaction of the Rehabilitation Obligations (if any) and any redundancy or termination benefits or payments to any consultant or contractor or employee who is engaged by the Company in the conduct of the activities of the Company, but only to the extent of the period for which an employee was engaged in the activities of the Company; “Tax” or “Taxes” means all foreign, federal, state, provincial, national, local and other taxes, fees, levies, duties and other assessments or charges of whatever kind (including zakat, income, excise, customs duties, tariffs, stamp, transfer, property, occupancy, value added, use, real estate, sales, payroll, gains, gross receipts, withholding and mining royalties or severance or other fees) together with any commission, penalties, or additions payable in connection with such taxes, fees, levies, duties or other assessments or charges imposed or collected by a Competent Authority whether directly or primarily charged against, recoverable from or attributable to any person;
Sufficient Financial Standing means the ability to perform all of the obligations to be assumed by the Affiliate Transferee under all outstanding and prospective agreements that relate to the Company and/or any Designated Project (as applicable);