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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Related to Borrower's Solvency

  • Borrower’s Loan Application Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower’s knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning ▇▇▇▇▇▇▇▇’s occupancy of the Property as ▇▇▇▇▇▇▇▇’s principal residence.

  • Borrower The term “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any interest in Borrower.

  • Location of Borrower The Borrower's place of business (or, if the Borrower has more than one place of business, its chief executive office) is located at the address listed under the Borrower's signature on this Agreement.

  • BORROWERS The Available Securities may be loaned to any Borrower identified on the Schedule of Borrowers, as such Schedule may be modified from time to time by State Street and Client, including without limitation, the Capital Markets division of State Street; provided, however, if Available Securities are loaned to the Capital Markets division, in addition to being consistent with the terms hereof, said Loan shall be made in accordance with the terms of the Securities Loan Agreement attached hereto as Exhibit 3.1, as modified form time to time in accordance with the provisions hereof (hereinafter, the "State Street Securities Loan Agreement"). The form of the State Street Securities Loan Agreement may be modified by State Street from time to time, without the consent of the Client, in order to comply with the requirements of law or any regulatory authority having jurisdiction over State Street, the Client or the securities lending program or in any other manner that is not material and adverse to the interests of the Client. Client acknowledges that it is aware that State Street, acting as "Lender's Agent" hereunder and thereunder, is or may be deemed to be the same legal entity as State Street acting as "Borrower" under the State Street Securities Loan Agreement, notwithstanding the different designations used herein and therein or the dual roles assumed by State Street hereunder and thereunder. Client represents that the power granted herein to State Street, as agent, to lend U.S. Securities owned by Client (including, in legal effect, the power granted to State Street to make Loans to itself) and the other powers granted to State Street, as agent herein, are given expressly for the purpose of averting and waiving any prohibitions upon such lending or other exercise of such powers which might exist in the absence of such powers, and that transactions effected pursuant to and in compliance with this Agreement and the State Street Securities Loan Agreement will not constitute a breach of trust or other fiduciary duty by State Street. Client further acknowledges that it has granted State Street the power to effect securities lending transactions with the Capital Markets division of State Street and other powers assigned to State Street hereunder and under the Securities Loan Agreements and the State Street Securities Loan Agreement as a result of Client's desire to increase the opportunity for it to lend securities held in its account on fair and reasonable terms to qualified Borrowers without such loans being considered a breach of State Street's fiduciary duty. In connection therewith, each party hereby agrees that it shall furnish to the other party (i) the most recent available audited statement of its financial condition, and (ii) the most recent available unaudited statement of its financial condition, if more recent than the audited statement. As long as any Loan is outstanding under this Agreement, each party shall also promptly deliver to the other party all such financial information that is subsequently available, and any other financial information or statements that such other party may reasonably request. In the event any such Loan is made to the Capital Markets division, State Street hereby covenants and agrees for the benefit of the Clients that it has adopted and implemented procedural safeguards to help ensure that all actions taken by it hereunder will be effected by individuals other than, and not under the supervision of, individuals who are acting in a capacity as Borrower thereunder, and that all trades effected hereunder will take place at the same fully negotiated "arms length" prices offered to similarly situated third parties by State Street when it acts as lending agent, notwithstanding the inherent conflict of interest with respect to Loans to be effected by State Street to the Capital Markets division.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.