Common use of Financial Capacity; Future Performance Clause in Contracts

Financial Capacity; Future Performance. Sellers' Guarantor has or will have the financial capacity to guaranty the Sellers' payments and performance under the Agreement. Sellers' Guarantor is not aware of any facts or circumstances that now or in the future would have a Material Adverse Effect on its financial condition, results of operations, business, properties, assets, or liabilities. Sellers' Guarantor is solvent, is not in the hands of a receiver, nor is any receivership pending, and no proceedings are pending by or against it for bankruptcy or reorganization in any state or federal court.

Appears in 2 contracts

Samples: Asset Purchase and Sale Agreement (Premcor Refining Group Inc), Asset Purchase and Sale Agreement (Williams Companies Inc)

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Financial Capacity; Future Performance. Sellers' (i) Purchaser's Guarantor has or will have the financial capacity to guaranty the Sellers' payments purchase and performance under operation of the AgreementAssets. Sellers' Purchaser's Guarantor is not aware of any facts or circumstances that now or in the future would have a Material Adverse Effect on its financial condition, results of operations, business, properties, assets, or liabilities. Sellers' Purchaser's Guarantor is solvent, is not in the hands of a receiver, nor is any receivership pending, and no proceedings are pending by or against it for bankruptcy or reorganization in any state or federal court.

Appears in 2 contracts

Samples: Asset Purchase and Sale Agreement (Williams Companies Inc), Asset Purchase and Sale Agreement (Premcor Refining Group Inc)

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