Common use of No Insolvency or Judgment Clause in Contracts

No Insolvency or Judgment. Neither Borrower, nor to Borrower's knowledge, any affiliate or member of Borrower, is (a) the subject of or a party to any state or federal bankruptcy or insolvency proceeding, or (b) the subject of any judgment unsatisfied of record or docketed in any court of the state in which the Mortgaged Property is located or in any other court located in the United States. Borrower is not contemplating either the filing of a petition by it under any state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of Borrower's assets or property, and Borrower has no knowledge of any Person contemplating the filing of any such petition against it. After giving effect to the transactions contemplated hereby, as of the Closing Date the fair saleable value of Borrower's assets exceeds Borrower's total liabilities, including without limitation subordinated, unliquidated, disputed and contingent liabilities. The fair saleable value of Borrower's assets is and will, immediately following the making of the Loan, be greater than Borrower's probable liabilities, including the maximum amount of its contingent liabilities on its Loans as such Loans become absolute and matured. Borrower's assets do not and, immediately following the making of the Loan, will not constitute unreasonably small capital to carry out its business as conducted or as proposed to be conducted. Borrower does not intend to, and does not believe that it will, incur loans and liabilities (including, contingent liabilities and other commitments) beyond its ability to pay such indebtedness as it matures (taking into account the timing and amounts of cash to be received by Borrower and the amounts to be payable on or in respect of obligations of Borrower).

No Insolvency or Judgment. Neither Borrower, nor to Borrower's knowledge’s Knowledge, any affiliate or member of Borrower, is (a) the subject of or a party to any state or federal bankruptcy or insolvency proceeding, or (b) the subject of any judgment unsatisfied of record or docketed in any court of the state in which the Mortgaged Property is located or in any other court located in the United States. Borrower is not contemplating either the filing of a petition by it under any state or federal bankruptcy or insolvency laws or the liquidation of all or a major portion of Borrower's ’s assets or property, and Borrower has no knowledge of any Person contemplating the filing of any such petition against it. After To Borrower’s Knowledge, after giving effect to the transactions contemplated hereby, as of the Closing Date the fair saleable value of Borrower's ’s assets exceeds Borrower's ’s total liabilities, including without limitation subordinated, unliquidated, disputed and contingent liabilities. The To Borrower’s Knowledge, the fair saleable value of Borrower's ’s assets is and will, immediately following the making of the Loan, be greater than Borrower's ’s probable liabilities, including the maximum amount of its contingent liabilities on its Loans as such Loans become absolute and matured. Borrower's ’s assets do not and, immediately following the making of the Loan, will not constitute unreasonably small capital to carry out its business as conducted or as proposed to be conducted. Borrower does not intend to, and does not believe that it will, incur loans and liabilities (including, contingent liabilities and other commitments) beyond its ability to pay such indebtedness as it matures (taking into account the timing and amounts of cash to be received by Borrower and the amounts to be payable on or in respect of obligations of Borrower).