Adequate Capital. To the knowledge of the Company, the Company (i) has adequate capital with which to conduct the businesses in which it is engaged as such businesses are now conducted and are presently proposed to be conducted after the Closing (as defined in the Subscription Agreement) and (ii) has not become, or is not presently, financially insolvent within the meaning of the bankruptcy laws or the insolvency laws of any jurisdiction.
Adequate Capital. Each Loan Party has and will maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light of its contemplated business operations.
Adequate Capital. The capital of Sellers and each Guarantor is adequate for the respective business and undertakings of Sellers and each Guarantor.
Adequate Capital. Borrower has and will maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light of its contemplated business operations.
Adequate Capital. The Borrower shall at all times maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light of its contemplated business operations; provided, however, that, notwithstanding any provision of this Agreement or any other Transaction Document to the contrary, (i) no Affiliate of the Borrower shall (A) be required to make any additional capital contributions to the Borrower or (B) have any liability with respect to any Receivable solely as a result of any changes in general economic conditions or movements in interest rates and (ii) the Borrower shall comply with the terms of Section 7.01(k)(xxii).
Adequate Capital. 8.1 Golden Ridge shall maintain a ratio of Indebtedness to Equity Capital of 2:1 or such other higher ratio as may be permitted by Law, excluding for these purposes any Indebtedness that is non-interest bearing (any non-interest bearing Indebtedness and other Indebtedness within the permitted ratios is referred to as “Permissible Debt”). The penalty for failure to maintain a 2.1 ratio of Indebtedness to Equity Capital shall be that any interest or currency exchange losses accrued and attributable to the excess Indebtedness other than Permissible Debt shall not be deductible for the purposes of determining its taxable income.
8.2 Notwithstanding Section 8.1, Golden Ridge shall have up to December 31st of the fourth calendar year after the Effective Date to achieve a 2:1 ratio of Indebtedness to Equity Capital or such higher ratio as may be permitted by Law (the “Transition Period”). During the Transition Period any Indebtedness to Equity Capital that does not exceed 4:1 (or that is otherwise permitted by Law) shall be Permissible Debt. The ratio shall be determined annually by reference to the most recent audited financial statement of Golden Ridge and if the audited financial statement should reveal that Golden Ridge is not in compliance with the requirements of this Section 8.2, then the penalty set forth in Section 8.1 shall apply.
Adequate Capital. Neither Calpine nor any of the Calpine Transaction Parties is insolvent or will be insolvent after giving effect to the transactions contemplated by this Agreement and the other Transaction Documents, as the term insolvent is used in applicable state and federal fraudulent conveyance or transfer laws.
Adequate Capital. CalBear is not insolvent and will not be insolvent after giving effect to the transactions contemplated by this Agreement and the other Transaction Documents, as the term insolvent is used in applicable state and federal fraudulent conveyance or transfer laws.
Adequate Capital. The Borrower shall (and shall ensure that each Obligor, PropCo and Xxxxxx shall) maintain adequate capital for the normal obligations reasonably foreseeable for its business.
Adequate Capital. Immediately upon the consummation of the Transactions, the Company shall have adequate capital in light of the Company's currently intended business operations to meet the Company's obligations.
