Litigation & Solvency. As of the Effective Date, there is no outstanding litigation, arbitrated matter or other dispute to which Bank is a party, which, if decided unfavorably to Bank, would reasonably be expected to have a material adverse effect on Bank's ability to fulfill its obligations under this Agreement. As of the Effective Date Bank is solvent, has not had a receiver or trustee appointed, and has not executed any assignment for the benefit of its creditors.
Appears in 4 contracts
Samples: Private Label Credit Card Program Agreement (Eddie Bauer Holdings, Inc.), Private Label Credit Card Program Agreement (Eddie Bauer Holdings, Inc.), Private Label Credit Card Program Agreement (Eddie Bauer Holdings, Inc.)
