Intent and Effect of Transactions. This Agreement and the transactions contemplated herein (a) are not made or incurred with intent to hinder, delay or defraud any person to whom the Borrower has been, is now, or may hereafter become indebted; (b) do not render the Borrower insolvent nor is the Borrower insolvent on the date of this Agreement; (c) do not leave the Borrower with an unreasonably small capital with which to engage in its business or in any business or transaction in which it intends to engage; and (d) are not entered into with the intent to incur, or with the belief that the Borrower would incur, debts that would be beyond its ability to pay as such debts mature.
Appears in 4 contracts
Samples: Credit and Security Agreement (Prestige Cosmetics Corp), Revolving Credit and Security Agreement (Nstor Technologies Inc), Credit and Security Agreement (Advanced Communication Systems Inc)
Intent and Effect of Transactions. This Agreement and the transactions contemplated herein (a) are not made or incurred with intent to hinder, delay or defraud any person to whom the Borrower has been, is now, or may hereafter become indebted; (b) do not render the Borrower insolvent nor is the Borrower insolvent on the date of this Agreement; (c) do not leave the Borrower with an unreasonably small capital with which to engage in its business or in any business or transaction in which it intends to engage; and (d) are not entered into with the intent to incur, or with the belief that the Borrower would incur, debts that would be beyond its ability to pay as such debts mature.. 40.17
Appears in 3 contracts
Samples: Share Purchase Agreement (Welty W R), Share Purchase Agreement (American Dream International LTD), Share Purchase Agreement (Vector Aeromotive Corp)
Intent and Effect of Transactions. This Agreement and the transactions contemplated herein (a) are not made or incurred with intent to hinder, delay or defraud any person to whom the Borrower has been, is now, or may hereafter become indebted; (b) do not render the Borrower insolvent nor is the Borrower insolvent on the date of this Agreement; (c) do not leave the Borrower with an unreasonably small capital with which to engage in its business or in any business or transaction in which it intends to engage; and (d) are not entered into with the intent to incur, or with the belief that the Borrower would incur, debts that would be beyond its ability to pay as such debts mature.
Appears in 2 contracts
Samples: And Security Agreement (Continucare Corp), Credit Facility and Security Agreement (Continucare Corp)
Intent and Effect of Transactions. This Agreement and the transactions contemplated herein (a) are not made or incurred with intent to hinder, delay or defraud any person to whom the Borrower has Obligors have been, is are now, or may hereafter become indebted; (b) do not render the Borrower any Obligor insolvent nor is the Borrower Obligor insolvent on the date of this Agreement; (c) do not leave the Borrower Obligor with an unreasonably small capital with which to engage in its business or in any business or transaction in which it intends to engage; and (d) are not entered into with the intent to incur, or with the belief that the Borrower any Obligor would incur, debts that would be beyond its ability to pay as such debts mature.
Appears in 2 contracts
Samples: Term Loan and Security Agreement (Able Telcom Holding Corp), Credit and Security Agreement (Able Telcom Holding Corp)
Intent and Effect of Transactions. This Agreement and the transactions contemplated herein (ai) are not made or incurred with intent to hinder, delay or defraud any person to whom the Borrower Debtor has been, is now, or may hereafter become indebted; (bii) do not render the Borrower Debtor insolvent nor is the Borrower Debtor insolvent on the date of this Agreement; (ciii) do not leave the Borrower Debtor with an unreasonably small capital with which to engage in its business or in any business or transaction in which it intends to engage; and (div) are not entered into with the intent to incur, or with the belief that the Borrower Debtor would incur, debts that would be beyond its ability to pay as such debts mature.
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