Absence of Insolvency. No insolvency proceedings of any character, including bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, (a) is pending against Seller or any of the Assets, (b) to the Knowledge of Seller is affecting Seller or any of the Assets, or (c) to the Knowledge of Seller is threatened, and Seller has not made any assignment for the benefit of creditors, nor taken any action with a view to, or which would constitute the basis of the institution of any such insolvency proceedings.
Absence of Insolvency. No insolvency proceedings of any character --------------------- including without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting the Seller or any of the Sale-Assets, are pending or, to the best knowledge of Seller, threatened, and Seller has made no assignment for the benefit of creditors, nor taken any action with a view to, or which would constitute the basis for the institution of, any such insolvency proceedings.
Absence of Insolvency. The Company is not as of the date hereof, and after giving effect to the transactions contemplated hereby to occur on the First Closing Date (as defined in Section 3), will not be Insolvent (as defined below). For purposes of this Section 2(aaa), “Insolvent” means, with respect to any person, (i) the present fair saleable value of such person’s assets is less than the amount required to pay such person’s total Indebtedness, (ii) such person is unable to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured, (iii) such person intends to incur or believes that it will incur debts that would be beyond its ability to pay as such debts mature or (iv) such person has unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted.
Absence of Insolvency. There shall be no insolvency, bankruptcy or similar proceedings involving the Issuer or any of its Subsidiaries.
Absence of Insolvency. As of the date hereof and as of the Closing --------------------- Date, no insolvency proceedings of any character, including, without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting the Purchaser or any of its respective assets or properties, are pending or, to the knowledge of Purchaser, threatened, and the Purchaser has made no assignment for the benefit or creditors, nor taken any action with a view to, or which would constitute the basis for, the institution of any such insolvency proceedings.
Absence of Insolvency. No insolvency proceedings of any character including without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting the Regent or any of the Station Assets, are pending or, to the best knowledge of Regent, threatened, and Regent has made no assignment for the
Absence of Insolvency. No insolvency proceeding of any character including, without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary: (i) is pending against Seller or any of the Sale Assets; (ii) to the knowledge of Seller, is affecting or would reasonably be expected to affect Seller or any of the Sale Assets; or (iii) to the knowledge of Seller, is threatened with respect to the Business or any of the Sale Assets. Xxxxxx has made no assignment for the benefit of creditors, nor taken any action with a view to, or which would reasonably be expected to constitute the basis for the institution of, any such insolvency proceedings. Salem Church Products
Absence of Insolvency. No insolvency proceedings of any character, including, without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, is (a) pending against Seller or any of the Assets, (b) to the Knowledge of Seller is affecting Seller or any of the Assets, or (c) to the Knowledge of Seller is threatened, and Seller has not made any assignment for the benefit of creditors, nor taken any action with a view to, or which would constitute the basis of the institution of any such insolvency proceedings. Seller is not insolvent under any applicable law, or within the zone of insolvency.
Absence of Insolvency. Immediately prior to, and immediately subsequent to, the consummation of the sale of the Assets pursuant to the provisions of this Agreement, Lydall will be solvent and have the ability to pay its debts (with respect to the Business or otherwise) as they become due.
Absence of Insolvency. Immediately prior to, and immediately subsequent to, the consummation of the sale of the Assets pursuant to the provisions of this Agreement, Ludlow will be solvent and have the ability to pay its debts (with respect to the Business or otherwise) as they become due.
