Assets; Solvency Sample Clauses

Assets; Solvency. The Company and its Subsidiaries have good and marketable title in fee simple to all items of real property and marketable title to all personal property owned by each of them, free and clear of any pledge, lien, encumbrance, security interest or other defect or claim of any third party, and any real property and buildings leased by the Company or such Subsidiaries are held under valid, subsisting and enforceable leases, in each case, with such exceptions as are not material and do not interfere with the use made or proposed to be made of such property and buildings by the Company or such Subsidiaries. The fair saleable value of the assets of the Company exceeds the amount that will be required to be paid on or in respect of its existing debts and other known liabilities (including known contingent liabilities) as they mature; the Company does not intend to, and does not believe that it will, incur debts beyond its ability to pay such debts as they mature; and upon the issuance of the Notes, the fair salable value of the assets of the Company will exceed the amount that will be required to be paid on or in respect of its existing debts and other liabilities (including known contingent liabilities) as they mature.
Find Your Perfect Clause

Affordable legal research to help you draft contracts faster. Search through millions of contracts from Am Law 100 firms and Fortune 100 companies

30+ Reviews on G2 Crowd