Financial Restructuring Plan Clause Samples

Financial Restructuring Plan. Achieving financial sustainability of the sector is a key objective of GOA's power reforms. Prior to unbundling, ▇▇▇▇’s high-cost structure, e.g., sub- optimal billing and collection, significantly undermined its financial health. Chronic defaults on payments to most of its creditors and suppliers resulted in a large burden of accumulated debts. To restore the financial viability of the power sector, GOA initiated a financial restructuring plan (FRP) in 2003, focusing on debt restructuring and transitional financial support to enable the new companies to start with a clean slate. The FRP indicated that ASEB would require transitional support to meet a projected shortfall of Rs2.71 billion. The FRP involved a total restructuring adjustment of Rs45.6 billion, comprising a noncash settlement of Rs34.0 billion and Rs11.6 billion for liabilities involving cash settlement. Supported by the APSDP, GOA successfully completed the FRP in 2008.
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Financial Restructuring Plan. 1. The Recipient shall: (a) no later than six months from the Effective Date, carry out an inventory of the Project Implementing Entity’s assets and liabilities, and prepare and submit to the Association for its review and approval the Financial Restructuring Plan; and (b) within twelve months from its review by the Association, adopt the Financial Restructuring Plan and take and, as the case may be, cause to be taken by the Project Implementing Entity or any other entity concerned by the Financial Restructuring Plan, all necessary governmental and corporate actions required for the implementation thereof, including the debts clearance mechanism.
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Financial Restructuring Plan. The Company has prepared in good faith and delivered to ▇▇▇▇ Capital a restructuring and financial plan (the “Restructuring Plan”) for each quarter for the fiscal year ending December 31, 2014. The Restructuring Plan has been approved by the Company’s Board of Directors. The Restructuring Plan is the basis for the quarterly financial targets for the fiscal year ending December 31, 2014 referred to in Section 10(a)(xiv) of the Certificate of Designations and which quarterly financial targets for the fiscal year ending December 31, 2014 are memorialized in the side letter between the Company and ▇▇▇▇ Capital.
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Related to Financial Restructuring Plan

  • Financial Resources The Adviser has the financial resources available to it necessary for the performance of its services and obligations contemplated in the Pricing Disclosure Package, the Prospectus, and under this Agreement, the Investment Management Agreement and the Administration Agreement.

  • PROJECT FINANCIAL RESOURCES i) Local In-kind Contributions $0 ii) Local Public Revenues $200,000 iii) Local Private Revenues iv) Other Public Revenues: $0 - ODOT/FHWA $0 - OEPA $0 - OWDA $0 - CDBG $0 - Other $0 v) OPWC Funds: - Loan Assistance $0

  • Financial Reporting and Rent Rolls Each Mortgage Loan requires the Mortgagor to provide the owner or holder of the Mortgage Loan with (a) quarterly (other than for single-tenant properties) and annual operating statements, (b) quarterly (other than for single-tenant properties) rent rolls (or maintenance schedules in the case of Mortgage Loans secured by residential cooperative properties) for properties that have any individual lease which accounts for more than 5% of the in-place base rent, and (c) annual financial statements.

  • Internal Control Over Financial Reporting The Company and each of its Subsidiaries maintain a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f) of the Exchange Act Regulations) that complies with the requirements of the Exchange Act and the Exchange Act Regulations and has been designed by the Company’s principal executive officer and principal financial officer and is sufficient to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including that (A) transactions are executed in accordance with management’s general or specific authorizations; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability; (C) access to assets is permitted only in accordance with management’s general or specific authorization; (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (E) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement is accurate and fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. The systems of internal control over financial reporting of the Company and its Subsidiaries are overseen by the Audit Committee of the Board of Directors of the Company in accordance with Nasdaq rules and regulations. Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, since the end of the Company’s most recent audited fiscal year, (i) there has been no material weakness in the Company’s internal control over financial reporting (whether or not remediated), (ii) there has been no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting and (iii) the Company has not been advised of (a) any significant deficiencies in the design or operation of internal controls that could adversely affect the ability of the Company or any Subsidiary to record, process, summarize and report financial data, or any material weakness in internal controls, or (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the internal controls of the Company and each of the Subsidiaries.

  • Quarterly Financial Reports The School shall prepare and submit quarterly financial reports to the Commission within 45 days of the end of each fiscal year quarter.