Common use of Financial Warranty Clause in Contracts

Financial Warranty. Except as set forth on Schedule 10.8, Borrower (i) is paying its debts as they mature, (ii) owns property which, at a fair valuation, is greater than the sum of its debt, and (iii) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage. Except as set forth on Schedule 10.8, each Primary Obligor and each Material Portfolio Entity: (i) is paying its respective debts as they mature, (ii) owns property which, at a fair valuation, is greater than the sum of its debt and (iii) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage.

Appears in 3 contracts

Samples: Subordinated Delayed Draw Credit Agreement (Firstcity Financial Corp), Revolving Credit Agreement (Firstcity Financial Corp), Revolving Credit Agreement (Firstcity Financial Corp)

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Financial Warranty. Except as set forth on Schedule 10.8, each Borrower (ia) is paying its debts as they mature, (iib) owns property which, at a fair valuation, is greater than the sum of its debt, and (iiic) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage. Except as set forth on Schedule 10.8, each Primary Obligor and each Material Portfolio Entity: (i) is paying its respective debts as they mature, (ii) owns property which, at a fair valuation, is greater than the sum of its debt and (iii) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage.

Appears in 1 contract

Samples: Reducing Note Facility Agreement (Firstcity Financial Corp)

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Financial Warranty. Except as set forth on Schedule 10.8, Borrower (ia) is paying its debts as they mature, (iib) owns property which, at a fair valuation, is greater than the sum of its debt, and (iiic) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage. Except as set forth on Schedule 10.8, each Primary Obligor and each Material Portfolio Entity: (i) is paying its respective debts as they mature, (ii) owns property which, at a fair valuation, is greater than the sum of its debt and (iii) has capital sufficient to carry on its business and transactions and all businesses and transactions in which it is about to engage.

Appears in 1 contract

Samples: Reducing Note Facility Agreement (Firstcity Financial Corp)

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