ADEQUATE NET WORTH Sample Clauses

The "Adequate Net Worth" clause establishes a requirement that a party, typically a contractor or service provider, must maintain a certain level of financial stability or net worth throughout the duration of an agreement. This is often measured by reviewing financial statements or requiring periodic certification that the party's assets exceed its liabilities by a specified amount. By ensuring that the party remains financially sound, the clause protects the other party from the risk of non-performance or default due to insolvency, thereby allocating risk and promoting confidence in the ongoing business relationship.
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ADEQUATE NET WORTH. The Purchaser represents that it has adequate net worth and means of providing for its current needs and personal contingencies to sustain a complete loss of its investment in the Shares. In particular, the Purchaser confirms that the amount of its investment in the Shares does not exceed 25% of its net worth (including, if the Purchaser is a natural person, the net worth of his or her spouse).
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ADEQUATE NET WORTH. The Investor has adequate net worth and means of providing for his, her or its current needs and personal contingencies to sustain a complete loss of the investment in the Company at the time of investment, and the Investor has no need for liquidity in the investment in the Shares.
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ADEQUATE NET WORTH. The Subscriber has adequate net worth and means of providing for the Subscriber's current needs and personal contingencies to sustain a complete loss of the investment in the Company at the time of investment, and the Subscriber has no need for liquidity in the investment in the Securities.
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ADEQUATE NET WORTH. The Purchaser has adequate net worth and means of providing for the Purchaser’s current needs and personal contingencies to sustain a complete loss of the investment in the Company at the time of investment, and the Purchaser has no need for liquidity in the investment in the Securities.
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ADEQUATE NET WORTH. The undersigned represents and warrants to the Company and to each other purchaser of the Shares that the undersigned: (a) has sufficient liquid assets to pay the full purchase price of the Shares to which the undersigned is subscribing; (b) does not have an overall commitment to investments which are not readily marketable that is disproportionate to the undersigned's net worth, and that the undersigned's investment in the Shares will not cause such overall commitment to become excessive; and (c) has adequate net worth and means or providing for the undersigned's current needs and personal contingencies to sustain a complete loss of the undersigned's investment in the Shares and has no need for liquidity in the undersigned's investment in the Shares.
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Related to ADEQUATE NET WORTH

  • BORROWER'S NEGATIVE COVENANTS Borrower covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations and the cancellation or expiration of all Letters of Credit, unless Requisite Lenders shall otherwise give prior written consent, Borrower shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7.

  • Noncompetition Covenant The Executive agrees that, during the Term, including any extension thereof, and for a period of one year following the Executive’s termination of employment, other than a termination pursuant to Section 4, the Executive shall not, without the express written consent of the Company: (a) Be engaged, directly or indirectly, in any county where the Company has an office at the time of Executive’s termination, as a partner, officer, director, employee, consultant, independent contractor, security holder, or owner of any entity engaged in any business activity competitive with that of the Company or its Affiliates; provided, however, nothing in this Agreement shall prevent the Executive from owning or acquiring an interest in any entity engaged in any competitive business activity if such interest does not constitute “control” as defined in 12 C.F.R. Section 303.81(c); (b) Call upon or solicit, either for the Executive or for any other person or firm that engages in competition with any business operation actively conducted by the Company or any Affiliate during the Term, any customer with whom the Company or any Affiliate directly conducts business during the Term; or interfere with any relationship, contractual or otherwise, between the Company or any Affiliate and any customer with whom the Company or any Affiliate directly conducts business during the Term; or (c) Induce or solicit any person who is at the date of termination or was during the 12 months preceding termination an employee, officer or agent of the Company or any Affiliate to terminate said relationship. In the event of a breach by the Executive of any covenant set forth in this Section 9, the term of such covenant will be extended by the period of the duration of such breach and such covenant will survive any termination of this Agreement but only for the limited period of such extension. The restrictions on competition provided herein shall be in addition to any restrictions on competition contained in any other agreement between the Company and the Executive and may be enforced by the Company and/or any successor thereto, by an action to recover payments made under this Agreement, an action for injunction, and/or an action for damages. The provisions of this Section 9 constitute an essential element of this Agreement, without which the Company would not have entered into this Agreement. Notwithstanding any other remedy available to the Company at law or at equity, the parties hereto agree that the Company or any successor thereto, will have the right, at any and all times, to seek injunctive relief in order to enforce the terms and conditions of this Section 9. If the scope of any restriction contained in this Section 9 is too broad to permit enforcement of such restriction to its fullest extent, then such restriction will be enforced to the maximum extent permitted by law, and the Executive hereby consents and agrees that such scope may be judicially modified accordingly in any proceeding brought to enforce such restriction.

  • AFFIRMATIVE AND NEGATIVE COVENANTS The Borrower covenants and agrees that, so long as any Bank has any Commitment hereunder or any Obligations remain unpaid:

  • Positive Covenants The Borrower covenants and agrees that, as long as the Obligations or any part thereof are outstanding or any Bank has any Commitment hereunder, the Borrower will perform and observe the following positive covenants:

  • Covenants Run with the Land All of the grants, covenants, terms, provisions and conditions herein shall run with the Premises, shall be binding upon Borrower and shall inure to the benefit of Lender, subsequent holders of this Security Instrument and their successors and assigns. Without limitation to any provision hereof, the term “Borrower” shall include and refer to the borrower named herein, any subsequent owner of the Property, and its respective heirs, executors, legal representatives, successors and assigns. The representations, warranties and agreements contained in this Security Instrument and the other Loan Documents are intended solely for the benefit of the parties hereto, shall confer no rights hereunder, whether legal or equitable, in any other Person and no other Person shall be entitled to rely thereon.