Common use of Financial Solvency Clause in Contracts

Financial Solvency. Both before and after giving effect to the transactions contemplated in the Loan Documents, no Credit Party: (a) was or will be insolvent, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) has unreasonably small capital and is not engaged or about to engage in a business or a transaction for which any of its remaining assets are unreasonably small; (c) does, by executing, delivering or performing its obligations under the Loan Documents to which it is a party or by taking any action with respect thereto, intend to, or believe that it will, incur debts beyond its ability to pay them as they mature; (d) does, by executing, delivering or performing its obligations under the Loan Documents to which it is a party or by taking any action with respect thereto, intend to hinder, delay or defraud either its present or future creditors; and (e) expects to file a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law any jurisdiction or country, and, to the Borrower's best knowledge, is not the subject of any bankruptcy or insolvency proceedings or similar proceedings under any law of any jurisdiction or country threatened or pending against it.

Financial Solvency. Both before and after giving effect to all of the transactions contemplated in herein, neither the Loan Documents, no Credit Party: Borrower nor any of its Subsidiaries (a) was or will be “insolvent”, as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any of its remaining assets of the Borrower or such Affiliate are unreasonably small; (c) does, by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intend intends to, or believe nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) does, by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intend intends to hinder, delay or defraud either its present or future creditors; and (e) expects to file at this time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction or countryjurisdiction, andnor, to the best knowledge of the Borrower's best knowledge, is not the subject of any bankruptcy actual, pending or threatened bankruptcy, insolvency proceedings or similar proceedings under any law of any jurisdiction or country threatened or pending against itjurisdiction.

Financial Solvency. Both before and after giving effect to all of the transactions contemplated in herein, neither the Loan Documents, no Credit Party: Borrower nor any of its Subsidiaries (a) was or will be "insolvent", as that term is used and defined in Section 101(32) of the United States Bankruptcy Code and Section 2 of the Uniform Fraudulent Transfer Act; (b) has unreasonably small capital and or is not engaged or about to engage in a business or a transaction for which any of its remaining assets of the Borrower or such Affiliate are unreasonably small; (c) does, by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intend intends to, or believe nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) does, by executing, delivering or performing its obligations under the Loan Documents or other documents to which it is a party or by taking any action with respect thereto, intend intends to hinder, delay or defraud either its present or future creditors; and (e) expects to file at this time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law of any jurisdiction or countryjurisdiction, andnor, to the best knowledge of the Borrower's best knowledge, is not the subject of any bankruptcy actual, pending or threatened bankruptcy, insolvency proceedings or similar proceedings under any law of any jurisdiction or country threatened or pending against itjurisdiction.