Borrower's Solvency Sample Clauses
The Borrower's Solvency clause affirms that the borrower is financially stable and able to meet its obligations. Typically, this clause requires the borrower to represent and warrant that it is not insolvent, bankrupt, or subject to any proceedings that could affect its financial standing at the time of entering into the agreement. By including this clause, lenders gain assurance that the borrower is a viable credit risk, thereby reducing the risk of default and protecting the lender’s interests.
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Borrower's Solvency. If the Borrower shall (a) discontinue business, or (b) generally not pay its debts as such debts become due, or (c) make a general assignment for the benefit of creditors, or (d) apply for or consent to the appointment of a receiver, a custodian, a trustee, an interim trustee or liquidator of all or a substantial part of its assets, or (e) be adjudicated a debtor or have entered against it an order for relief under the Bankruptcy Code, whether in a voluntary or involuntary case or proceeding, or (f) file a voluntary petition under any chapter or provision of the Bankruptcy Code or file a petition or an answer seeking reorganization or an arrangement with creditors or seeking to take advantage of any other law (whether federal or state) relating to relief of debtors, or admit (by answer, by default or otherwise) the material allegations of a petition filed against it in any bankruptcy, reorganization, insolvency or other proceeding (whether federal or state) relating to relief of debtors, or (g) suffer or permit to continue unstayed and in effect for thirty (30) consecutive days any judgment, decree or order entered by a court or governmental commission of competent jurisdiction, which assumes custody or control of the Borrower, approves a petition seeking reorganization of the Borrower or any other judicial modification of the rights of its creditors, or appoints a receiver, custodian, trustee, interim trustee or liquidator for the Borrower or of all or a substantial part of its assets, or (h) take or omit to take any action in order thereby to effect any of the foregoing.
Borrower's Solvency. As of the date of this Agreement, the ------------------- Borrower is and will be Solvent. As used in this Section, "Solvent" means the Borrower is able to pay its debts as they become due in the usual course of business.
Borrower's Solvency. If
(a) Borrower shall discontinue operations, or (b) Borrower shall commence any insolvency action of any kind or admit (by answer, default or otherwise) the material allegations of, or consent to any relief requested in, any insolvency action of any kind commenced against Borrower by its creditors or any thereof, or (c) any creditor or creditors shall commence against Borrower any insolvency action of any kind which shall remain in effect (neither dismissed nor stayed) for sixty (60) consecutive days.
Borrower's Solvency. If Borrower shall: (i) make a general assignment for the benefit of creditors; (ii) apply for or consent to the appointment of, or if for any other reason, a receiver, trustee or liquidator of all or a substantial part of the assets of Borrower is appointed; (iii) be adjudicated a bankrupt or insolvent; (iv) file a voluntary petition in bankruptcy or file a petition or any answer seeking reorganization or an arrangement with creditors or seeking to take advantage of any other law relating to relief of debtors, or admit (by answer, default or otherwise) the material allegations of a petition filed against Borrower in any bankruptcy, reorganization, insolvency or other proceedings relating to relief for debtors; (v) suffer or permit to continue unstayed and in effect for thirty (30) consecutive days any judgment, decree or order entered by a court or governmental agency of competent jurisdiction, which assumes control of Borrower, approves a petition seeking reorganization of Borrower or any other judicial modification of the rights of ▇▇▇▇▇▇▇▇'s creditors, or appoints a receiver, trustee, custodian or liquidator for Borrower of all or a substantial part of Borrower's assets; or (vi) fail to pay Borrower's debts as and when the same mature.
Borrower's Solvency. Both prior to and after giving ------------------- effect to the Sixth Amendment to this Agreement dated October 29, 1998, and the increase in the Total Commitment effected thereby, the Borrower is and will be Solvent. As used in this Section, "Solvent" means the Borrower is able to pay its debts as they become due in the usual course of business.
Borrower's Solvency. If Borrower shall (a) discontinue business, or (b) make a general assignment for the benefit of creditors, or (c) apply for or consent to the appointment of a receiver, a trustee or liquidator of itself or of all or a substantial part of its assets, or (d) be adjudicated a bankrupt or insolvent or (e) file a voluntary petition in bankruptcy or file a petition or an answer seeking reorganization or an arrangement with creditors or seeking to take advantage of any other law (whether federal or state) relating to relief of debtors, or admit (by answer, by default or otherwise) the material allegations of a petition filed against it in any bankruptcy, reorganization, insolvency or other proceeding (whether federal or state) relating to relief of debtors, or (f) suffer or permit to continue unstayed and in effect for thirty (30) consecutive days any judgment, decree or order entered by a court or governmental commission of competent jurisdiction, which assumed custody or control of Borrower, approves a petition seeking reorganization of Borrower or any other judicial modification of the rights of its creditors, or appoints a receiver, trustee, or liquidator for Borrower or of all or a substantial part of its assets, or (g) take, or omit to take, any action in order thereby to effect any of the foregoing.
Borrower's Solvency. As of the date hereof:
(i) Borrower is not insolvent and the granting of the security interest in the Collateral shall not render Borrower insolvent (as defined in ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code Section 101(32));
(ii) the property remaining with Borrower is not unreasonably small for the conduct of Borrower’s business; and
(iii) Borrower does not intend to incur, and does not believe it will incur debts that would be beyond the Borrower’s ability to pay as such debts mature.
Borrower's Solvency. If the Borrower or the Guarantor shall:
(a) cease operating as an air carrier or lose its certification to operate as an air carrier, or
(b) generally not pay its debts as such debts become due, or
(c) make a general assignment for the benefit of creditors, or
(d) apply for or consent to or acquiesce in the appointment of a receiver, a custodian, a trustee, or liquidator of all or a substantial part of its assets, or
(e) file a voluntary case in bankruptcy or file a petition or an answer seeking reorganization or an arrangement with creditors or seeking to take advantage of any other law (whether federal or state) relating to relief of debtors, or admit (by answer, by default or otherwise) the material allegations of a petition filed against it in any bankruptcy reorganization, insolvency, or other proceeding (whether federal or state) relating to relief of debtors, or
(f) suffer or permit to continue unstayed and in effect for sixty consecutive days any judgment, decree, or order, entered by a court or governmental commission of competent jurisdiction, which assumes custody or control of the Borrower approves a petition seeking its reorganization or any other judicial modification of the rights of its creditors, or appoints a receiver, custodian, trustee, or liquidator for the Borrower or of all or a substantial part of its assets.
Borrower's Solvency. As of the date hereof:
(i) Borrower is not insolvent and the granting of the security interest in the Collateral shall not render Borrower insolvent (as defined in ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code Section 101(32));
(ii) the property remaining with Borrower is not unreasonably small for the conduct of Borrower’s business; and
(iii) Borrower does not intend to incur, and does not believe it will incur debts that would be beyond the Borrower’s ability to pay as such debts mature.