Common use of Financial Solvency Clause in Contracts

Financial Solvency. Both before and after giving effect to the Acquisition and all of the transactions contemplated in the Loan Documents, the Borrower and each of its Subsidiaries: (a) are not and will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have unreasonably small capital and is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Subsidiary are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at this time, does not contemplate filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and after giving effect to the Acquisition and all of the transactions contemplated in the Loan Documents, none of the Borrower and each or its Affiliates (exclusive of its Subsidiaries:Bionova Holding Corporation): (a) are not and was or will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Subsidiary Affiliate are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and after giving effect to the Acquisition acquisition of the common stock of the Borrower by Meteor Industries, Inc. and all of the transactions contemplated in the Loan Documents, none of the Borrower and each of or its SubsidiariesAffiliates: (a) are not and was or will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Subsidiary Affiliate are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and immediately after giving effect to the Acquisition and all of the transactions contemplated in the Loan Documents, none of the Borrower and each of or its SubsidiariesAffiliates: (a) are not and was or will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have has unreasonably small capital (as such phrase is used in the solvency and bankruptcy contexts only) or is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Subsidiary Affiliate are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and after giving effect to the Acquisition reorganization of the Borrower described on Schedule 6.18 and all of the transactions contemplated in the Loan Documents, none of the Borrower and each of or its SubsidiariesAffiliates: (a) are not and Was or will not be "insolvent", as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have Has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Subsidiary Affiliate are unreasonably small; (c) by By executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by By executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at At this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and after giving effect to the Acquisition and all of the transactions contemplated in the Loan Documents, the neither Borrower and each nor any of its Subsidiariestheir respective Affiliates: (a) are not and was or will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any remaining assets of the such Borrower or any such Subsidiary Affiliate are unreasonably small; (c) by executing, delivering or performing its obligations under the Loan Documents or other documents to which it or he is a party or by taking any action with respect thereto, neither intends to, nor believes that it or he will, incur debts beyond its or his ability to pay them as they mature; (d) by executing, delivering or performing its or his obligations under the Loan Documents or other documents to which it or he is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its or his present or future creditors; and (e) at this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

Financial Solvency. Both before and after giving effect to the Acquisition and all of the transactions contemplated in the Loan Documents, none of the Borrower and each of its Subsidiariesor MMA Mortgage Corporation: (a) are not and Was or will not be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) do not have Has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower Borrower, any Subsidiary, or such Subsidiary any Affiliates thereto are unreasonably small; (c) by By executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) by By executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, neither intends to hinder, delay or defraud either its present or future creditors; and (e) at At this time, does not contemplate time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.