Termination in the Event of Financial Difficulties Sample Clauses

Termination in the Event of Financial Difficulties. If the HSP makes an assignment, proposal, compromise, or arrangement for the benefit of creditors, or is petitioned into bankruptcy, or files for the appointment of a receiver the Funder will consult with the Director before determining whether this Agreement will be terminated. If the Funder terminates this Agreement because a person has exercised a security interest as contemplated by section 107 of the Act, the Funder would expect to enter into a service accountability agreement with the person exercising the security interest or the receiver or other agent acting on behalf of that person where the person has obtained the Director's approval under section 110 of the Act and has met all other relevant requirements of Applicable Law.
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Termination in the Event of Financial Difficulties. If the HSP makes an assignment, proposal, compromise, or arrangement for the benefit of creditors, or is petitioned into bankruptcy, or files for the appointment of a receiver the LHIN will consult with the Director before determining whether this Agreement will be terminated in respect of a Home. If the LHIN terminates this Agreement in respect of a Home because a person has exercised a security interest as contemplated by section 107 of the Act, the LHIN would expect to enter into a service accountability agreement with the person exercising the security interest or the receiver or other agent acting on behalf of that person where the person has obtained the Director's approval under section 110 of the Act and has met all other relevant requirements of Applicable Law.
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Termination in the Event of Financial Difficulties. If the HSP makes an assignment,proposal,compromise,orarrangementforthebenefitofcreditors, or is petitioned into bankruptcy, or files for the appointment of a receiver the LHIN will consult with the Directorbeforedetermining whether this Agreement willbeterminated.IftheLHINterminatesthisAgreement becauseapersonhas exercised a security interest as contemplated by section 107 of the Act, the LHIN would expect to enter into a service accountability agreement with the person exercising the security interest or the receiver or other agent acting on behalf of that person where the person has obtained the Director’s approval under section 110 of the Act and has met all other relevant requirements of Applicable Law.
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Related to Termination in the Event of Financial Difficulties

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • TERMINATION DUE TO CHANGE IN FUNDING ‌ 35 In the event funding from HCA, MCO, State, Federal, or other sources is withdrawn, reduced, or limited 36 in any way after the effective date of this Contract and prior to its normal completion, either party may 37 terminate this Contract subject to re-negotiations.

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