Define: Financial Status

How is Financial Status defined in a legal contract?

• Financial Status means the process of not assuming any unnecessary debts or incurring extensive costs while adding new members. Negotiations about the costs involved in certifying new members will be made with the group applying for membership. Seen in 6 SEC filings
• Financial Status means the classification of people's income level. Seen in 1 SEC filing
• Financial Status means the condition including finance, business, assets, properties, and operations of a person. Seen in 1 SEC filing
• Financial Status means the measure of profitability, loss, revenue, income, earnings, debt, EBITDA, or cash flow. Seen in 1 SEC filing
• Financial Status means the description of profits, losses, revenue, income, earnings, debt, EBITDA, corporate valuation, available cash, or cash flow. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of financial status' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Financial Status means classifications of income, notable debts, profits, losses and cash flow.

Relevant Contract Types

• Employment Contract
• Loan Agreement
• Merger Agreement
• Mortgage Agreement
• Lease Agreement

Relevant Circumstances

• Negotiating salary or wage in an employment contract
• Evaluating the borrower's ability to repay in a loan agreement
• Assessing the financial compatibility of two corporations in a merger agreement
• Determining the buyer's financial capability in a mortgage agreement
• Evaluating tenant's payment capacity in lease agreement

Relevant Sectors

• Banking
• Real Estate
• Corporate

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Genie Definition 2

• Financial Status means the condition including business, assets, properties, operations [related to finances], along with profitability and debt indicators.

Relevant Contract Types

• Partnership Agreement
• Investment Contract
• Sale of Business Agreement

Relevant Circumstances

• Determining the business's current status and potential in a partnership agreement
• Evaluating the investment's profitability and associated risks in an investment contract
• Evaluating the business's worth during negotiations in a sale of business agreement

Relevant Sectors

• Investment
• Retail- Business Services

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