Prospect of Payment or Performance Clause Samples

The "Prospect of Payment or Performance" clause establishes the requirement that a party must maintain the ability to fulfill its financial or contractual obligations under the agreement. In practice, this clause may allow one party to request evidence or assurances that the other party remains capable of making payments or performing required duties, especially if there are signs of financial instability or default risk. Its core function is to protect parties from the risk of non-performance or non-payment by enabling early intervention if a party's ability to meet its obligations comes into question.
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Prospect of Payment or Performance. The determination in good faith by Lender that the prospect for payment or performance of any of the Obligations is impaired for any reason.
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Prospect of Payment or Performance. The determination in good faith by Members United that the prospect for payment or performance of any of the obligations herein is impaired for any reason.
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Prospect of Payment or Performance. The determination in good faith by Secured Party that the prospect for payment or performance of any of the Obligations is impaired for any reason.
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Prospect of Payment or Performance. The determination in good faith by Alloya that the prospect for payment or performance of any of the obligations herein is impaired for any reason.
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Prospect of Payment or Performance. The determination in good faith by Lender that the prospect for payment or performance of any of the Obligations is impaired for any reason other than a violation of Sections 5, 6 and 7 of this Agreement.
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Related to Prospect of Payment or Performance

  • Timing of Payment or Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

  • Timing of Payment of Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

  • Security for Performance In the event that Exhibit A Section 4 indicates the need for Consultant to provide additional security for performance of its duties under this Agreement, Consultant shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • TIMELY PERFORMANCE (a) SELLER's timely performance is a critical element of this Contract. (b) SELLER shall provide LOCKHEED ▇▇▇▇▇▇ status of performance of this Contract when requested. In addition, if SELLER becomes aware of an impending labor dispute involving SELLER or any lower tier subcontractor, or any other difficulty in performing the Work, SELLER shall timely notify LOCKHEED ▇▇▇▇▇▇, in writing, giving pertinent details. These notifications shall not change any delivery schedule.