Solvency of Borrower. Borrower is and after consummation of the transactions contemplated by this Agreement (including the making of the Loan), and after giving effect to all obligations incurred by Borrower in connection herewith, will be, Solvent.
Solvency of Borrower. The Borrower is solvent on the date hereof. For -------------------- the purpose of this Agreement, the term "solvent" shall mean: (a) the fair salable value of the Borrower's property is in excess of the total amount of its debts; (b) the Borrower is able to pay its debts as they mature; and (c) the Borrower has adequate capital to conduct its business in the ordinary course.
Solvency of Borrower. As of the date hereof, and after giving effect to this Agreement and the completion of all other transactions contemplated by Borrower at the time of the execution of this Agreement, (i) Borrower is and will be solvent, (ii) the fair saleable value of Borrower's assets exceeds and will continue to exceed Borrower's liabilities (both fixed and contingent), and (iii) Borrower is and will continue to be able to pay its debts as they mature.
Solvency of Borrower. Entering into this Agreement, making and delivering the Note and the borrowings under this Agreement, do not and will not render the Borrower insolvent; the Borrower is not contemplating either the filing of a petition under any state or federal bankruptcy or insolvency laws or the liquidating of all or a major portion of its property, and the Borrower has no knowledge of any person contemplating the filing of any such petition against it or any of its assets; and after giving effect to the transactions contemplated by this Agreement the Borrower is and will be able to pay its debts as such
Solvency of Borrower. Without limiting the generality of any of the other provisions hereof, each Guarantor specifically agrees that upon the dissolution of Borrower and/or the filing or other commencement of any bankruptcy or insolvency proceedings by, for or against Borrower, including without limitation, any assignment for the benefit of creditors or other proceedings intended to liquidate or rehabilitate Borrower, the Obligations shall be forthwith due and payable in full without notice. Upon the occurrence of any of the events enumerated in the immediately preceding sentence, each Guarantor shall, upon Bank’s demand, whenever made, pay to Bank an amount equal to the then unpaid principal balance of and accrued interest on the Obligations, including interest accruing on the Obligations after the commencement of any bankruptcy or insolvency proceedings, notwithstanding any provision or rule of law which might restrict the rights of Bank to collect such interest.
Solvency of Borrower. On the date hereof, and as of the date of each -------------------- advance of the Revolving Credit Loan and issuance or renewal of any Letter of Credit, as the case may be, and after giving effect to such advance or the issuance or renewal of a Letter of Credit, each of the Borrower and each Subsidiary Guaranty is, and will be, Solvent.
Solvency of Borrower. Borrower represents that (i) Lender holds a valid, enforceable, perfected security interest and lien on the Borrower's assets as more particularly described in the Transaction Documents, and (ii) the fair value of the Borrower's assets securing the Obligations exceeds the stated amount of the Obligations.
Solvency of Borrower. The fair saleable value of the business and assets of Borrower, upon giving effect to the transactions contemplated hereby, will be in excess of the amount that will be required to pay its probable liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) on existing debts as they may become absolute and matured. Borrower, upon giving effect to the transactions contemplated hereby, will not be engaged in any business or transaction, or about to engage in any business or transaction, for which it has an unreasonably limited capital, and Borrower has no intent (i) to hinder, delay or defraud any entity to which it is, or will become, on or after the date hereof, indebted, or (ii) to incur debts that would be beyond its ability to pay as they mature.
Solvency of Borrower. 14 3.14. Year 2000 Compliance..............................................14 3.15. Principal Place of Business; Location of Records..................14 3.16. Subsidiaries......................................................14 3.17. Stock.............................................................14 3.18.
Solvency of Borrower. Entering into this Agreement, making and delivering the Note and the borrowings under this Agreement, do not and will not render the Borrower insolvent or unable to pay its debts as they become due. The Borrower is not contemplating either the filing of a petition under any state or federal bankruptcy or insolvency law or the liquidating of all or a major portion of its property, and the Borrower has no knowledge of any person contemplating the filing of any such petition against it or any of its assets. After giving effect to the transactions contemplated by this Agreement (including all borrowings to be made hereunder), the Borrower is and will be able to pay its debts as such debts become due and will have and continue to have capital sufficient to carry on its business as presently conducted and as presently contemplated to be conducted.
