Ability to Pay and Ability to Continue in Business Clause Samples
The "Ability to Pay and Ability to Continue in Business" clause requires a party to affirm that it has sufficient financial resources to meet its contractual obligations and to remain operational throughout the term of the agreement. In practice, this clause may obligate a company to disclose its financial status or notify the other party if its financial condition changes significantly, such as in cases of insolvency or bankruptcy risk. Its core function is to provide assurance to the other party that the contract will be performed as agreed, thereby reducing the risk of default due to financial instability.
Ability to Pay and Ability to Continue in Business. The ability to pay and to continue in business factor must be considered when assessing administrative civil liabilities. The California Department of Correction and Rehabilitation is a state agency with a Fiscal Year 16-17 budget of over $10 billion3. As such, it should have the ability to pay a penalty in the millions of dollars.
Ability to Pay and Ability to Continue in Business. The ability to pay and to continue in business factor must be considered when assessing administrative civil liabilities. If the Water Board has sufficient financial information to assess the Discharger’s ability to pay the Total Base Liability or to assess the effect of the Total Base Liability on the Discharger’s ability to continue in business, then the Total Base Liability amount may be adjusted downward. In this matter, the Discharger is an ongoing entity with the ability to raise revenue to satisfy the liability proposed through the imposition of fees and taxes and there is no information presented to date that would evidence the inability to pay.
Ability to Pay and Ability to Continue in Business. No Adjustment
Ability to Pay and Ability to Continue in Business. The Enforcement Policy provides that if the North Coast Water Board has sufficient financial information necessary to assess the violator’s ability to pay the Total Base Liability or to assess the effect of the Total Base Liability on the violator’s ability to continue in business, then the Total Base Liability Amount may be adjusted downward. The Settling Respondents’ have raised an inability to pay defense and have provided the Prosecution Staff with information that suggests that Settling Respondents do not have the ability to pay the total base liability amount without selling the Property. This conclusion is based upon Settling Respondents’ submission of most recently available information on an “Individual Ability To Pay Claim” form which is signed under penalty of perjury and supporting documentation. The Settling Respondents, however, are known to cultivate marijuana and Prosecution Staff has no independent means of verifying whether or not the Settling Respondents have a source of income that is under reported or not otherwise reported in the Settling Respondents’ financial submittals. While this asserted inability to pay has been a consideration in settling this matter at the liability proposed, Prosecution Staff does not feel that they have sufficient financial information to accurately adjust the Total Base Liability amount based on the Settling Respondents ability to pay.
Ability to Pay and Ability to Continue in Business. According to Lennar’s 2015 Annual Report, the gross profit on land sales were $30.1 million at the end of 2015 and $41.7 million by the end of 2014. Selling, general and administrative expenses were $831.1 million by the end of 2015 and $714.8 million by the end of 2014. The net income totaled $81.6 million in 2015 and $7.5 million by 2014 (2015 Annual Report, pg 33). The Discharger has the ability to pay the penalty and stay in business.
Ability to Pay and Ability to Continue in Business. Prosecution Staff believe that the City has the ability to pay the proposed liability and continue in business. The City’s adopted budget for fiscal years 2011-12 and 2012-13 projects general fund operating revenues of $58.1 million and $59.2 million, respectively. While the general fund is projected to operate in deficit during these years, the budget projects the City will have available reserves of more than $12 million (FY 2011-12) and $8.95 million (FY 2012-13). These amounts are significantly greater than the proposed liability of $20,000. Accordingly, the total base liability is not adjusted.
Ability to Pay and Ability to Continue in Business. The ability to pay and to continue in business factor must be considered when assessing administrative civil liabilities. The Enforcement Policy states that if the Central Valley Water Board has sufficient financial information to assess the Discharger’s ability to pay the Total Base Liability or to assess the effect of the Total Base Liability on the Discharger’s ability to continue in business, then the Total Base Liability amount may be adjusted to address the Discharger’s ability to pay or continue in business. In this case, the Discharger is a governmental entity with the ability to raise revenue to satisfy the proposed liability through the imposition of fees and taxes. A review of the City of ▇▇▇▇▇▇▇’s 2021-22 Adopted Operating Budget shows the City has approximately $153 million in its general fund, with approximately $58.9 million allocated to the wastewater fund. Their final budget can be accessed at the following website: ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/ArchiveCenter/ViewFile/Item/3357.
Ability to Pay and Ability to Continue in Business. The ability to pay and to continue in business factor must be considered when assessing administrative civil liabilities. The Enforcement Policy states that if the Central Valley Water Board has sufficient financial information to assess the Discharger’s ability to pay the Total Base Liability or to assess the effect of the Total Base Liability on the Discharger’s ability to continue in business, then the Total Base Liability amount may be adjusted downward. In this case, the Discharger has an ability to pay and continue in business. E. & ▇. ▇▇▇▇▇ Winery is one of the largest family-owned wineries in the world and has sufficient assets to not qualify for a downward adjustment.
Ability to Pay and Ability to Continue in Business. The City has the ability to pay the total base liability amount based on the following information: The Discharger has an annual operating budget of approximately $34 million for fiscal year 2009. The Discharger also has authority to adjust its sewer-rate scale to provide for financial needs. According to a survey of monthly Bay Area sewer services charges conducted by the Collection System Committee of the Bay Area Clean Water Agencies for the period ending September 30, 2009, the Discharger’s monthly collection sewer rate is $22.24, which is above the average collection sewer rate for the seven East Bay collection system communities (i.e., Cities of Oakland, Alameda, Albany, Berkeley, Emeryville, and Piedmont, and the ▇▇▇▇▇ Sanitary District).
Ability to Pay and Ability to Continue in Business. The ability to pay and to continue in business factor must be considered when assessing administrative civil liabilities. The City of Lincoln is a public entity with the ability to raise funds. The City’s 2014-2015 budget was $82 million2 with a wastewater fund of $5.2 million.