Grounds for Insecurity Clause Samples

The "Grounds for Insecurity" clause allows one party to demand assurances from the other if there are reasonable concerns about the latter's ability or willingness to fulfill contractual obligations. In practice, this clause is triggered when events or behaviors—such as missed payments, negative financial news, or sudden changes in business operations—raise doubts about performance. Its core function is to provide a mechanism for addressing potential breaches before they occur, thereby protecting parties from unexpected losses and ensuring continued trust in the contractual relationship.
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Grounds for Insecurity. The parties agree that each Party's expectation of receiving due performance will not be impaired. Buyer may find reasonable grounds for insecurity if any of the following happens: (1) insolvency of Seller; (2) Seller’s filing of a voluntary petition in bankruptcy; (3) the filing of an involuntary petition to have Seller, declared bankrupt, provided it is not vacated within thirty (30) days from the date of filing;
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Grounds for Insecurity. Adequate Assurance of Performance: When, in Buyer’s good faith opinion, reasonable grounds for insecurity arise with respect to Seller’s performance, Buyer may demand from Seller adequate assurance of future performance. If assurance of due performance is required herein and is not timely provided by Seller, Buyer may, at its option, treat any and all Orders as repudiated by Seller.
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Related to Grounds for Insecurity

  • Requests for Information The Grantee shall fully and promptly comply with all reporting requirements and requests for information issued by the Department or its authorized designee. The Grantee shall provide such information in the format requested by the Department. The Grantee shall ensure that its staff, interns, volunteers, and subcontractors comply in a timely and complete manner with all the Department’s requests for information. The Grantee shall comply in a timely manner with requests by the Department or its authorized designee for financial information, records, and documents related to evaluating costs of programs and ser vices provided by the Grantee’s probation department. The Grantee shall timely submit any files or records of the Grantee’s juvenile probation department, or any facility or program operated by or under the authority of the Grantee, requested by the Department or its authorized designee as a part of the monitoring, auditing, or investigatory process.

  • Termination for Insolvency The Procuring Entity may at any time terminate the Contract by giving notice to the Supplier if the Supplier becomes bankrupt or otherwise insolvent. In such event, termination will be without compensation to the Supplier, provided that such termination will not prejudice or affect any right of action or remedy that has accrued or will accrue thereafter to the Procuring Entity

  • Request for Information (RFI) means a written request by Contractor directed to A/E or ODR for a clarification of the information provided in the Contract Documents or for direction concerning information necessary to perform the Work that may be omitted from the Contract Documents.

  • REQUEST FOR INSTRUCTIONS If, in performing its duties under this Agreement, the Custodian is required to decide between alternative courses of action, the Custodian may (but shall not be obliged to) request written instructions from the Company as to the course of action desired by it. If the Custodian does not receive such instructions within two (2) Business Days after it has requested them, the Custodian may, but shall be under no duty to, take or refrain from taking any such courses of action. The Custodian shall act in accordance with instructions received from the Company in response to such request after such two-Business Day period except to the extent it has already taken, or committed itself to take, action inconsistent with such instructions.

  • Registers Open for Inspection The registers referred to in Sections 3.1 and 3.2 shall at all reasonable times be open for inspection by the Corporation, the Trustee or any Debentureholder. Every registrar, including the Trustee, shall from time to time when requested so to do by the Corporation or by the Trustee, in writing, furnish the Corporation or the Trustee, as the case may be, with a list of names and addresses of holders of registered Debentures entered on the register kept by them and showing the principal amount and serial numbers of the Debentures held by each such holder, provided the Trustee shall be entitled to charge a reasonable fee to provide such a list.