MCC Solvent Sample Clauses

MCC Solvent. As of the Closing Date or the related Transfer Date, as applicable, (i) MCC shall not have been insolvent and shall not become insolvent as a result of the conveyance of the Initial Receivables on the Closing Date or the Subsequent Receivables on such Transfer Date, (ii) MCC shall not have intended to incur or believed that it would incur debts that would be beyond MCC's ability to pay as such debts matured, (iii) such transfer shall not have been made with actual intent to hinder, delay or defraud any Person and (iv) the assets of MCC shall not have constituted unreasonably small capital to carry out its business as conducted.
Sample 1
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MCC Solvent. As of the Closing Date or the related Transfer Date, as applicable, (i) MCC shall not have been insolvent and shall not become insolvent as a result of the conveyance of the Initial Receivables on the Closing Date or the Subsequent Receivables on such Transfer Date, (ii) there has been no filing of a decree or order for relief by a court having jurisdiction in the premises in respect of MCC or any substantial part of its property in an insolvency or other similar law now in effect or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for MCC or for any substantial part of its property, or ordering the winding up or liquidation of MCC's affairs which remains unstayed and in effect, (iii) MCC shall not have intended to incur or believed that it would incur debts that would be beyond MCC's ability to pay as such debts matured, (iv) such transfer shall not have been made with actual intent to hinder, delay or defraud any Person and (v) the assets of MCC shall not have constituted unreasonably small capital to carry out its business as conducted.
Sample 1

Related to MCC Solvent

  • FINANCIALLY SOLVENT Contractor represents and warrants that Contractor has not commenced bankruptcy proceedings and that there are no judgment, liens, or encumbrances of any kind affecting title to any Goods and/or Services that are the subject of this Contract.

  • Solvent The Borrower is, and the Borrower and its Subsidiaries are on a consolidated basis, Solvent.

  • Investment Company; Public Utility Holding Company Neither the Company nor any Subsidiary is an "investment company" or a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, as amended, or a "public utility holding company" within the meaning of the Public Utility Holding Company Act of 1935, as amended.

  • Financial Solvency Both before and after giving effect to the transactions contemplated in the Loan Documents, none of the Borrower or its Affiliates: (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 or is engaged or about to engage in a business or a transaction for which any remaining assets of the Borrower or such Affiliate are unreasonably small; (c) 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, intends to, nor believes that it will, incur debts beyond its ability to pay them as they mature; (d) 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, intends to hinder, delay or defraud either its present or future creditors; and (e) at this time contemplates filing a petition in bankruptcy or for an arrangement or reorganization or similar proceeding under any law any jurisdiction, nor, to the best knowledge of the Borrower, is the subject of any actual, pending or threatened bankruptcy, insolvency or similar proceedings under any law of any jurisdiction.

  • Investment Companies; Regulated Entities None of the Loan Parties or any Subsidiaries of any Loan Party is an “investment company” registered or required to be registered under the Investment Company Act of 1940 or under the “control” of an “investment company” as such terms are defined in the Investment Company Act of 1940 and shall not become such an “investment company” or under such “control.” None of the Loan Parties or any Subsidiaries of any Loan Party is subject to any other Federal or state statute or regulation limiting its ability to incur Indebtedness for borrowed money.

  • Parent A parent, legal guardian or person in parental relation to the Student.

  • Operating Partnership Operating Partnership shall have the meaning set forth in the preamble of this Agreement.

  • Reporting Company/Shell Company The Company is a publicly-held company subject to reporting obligations pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the “1934 Act”) and has a class of Common Stock registered pursuant to Section 12(g) of the 1934 Act. Pursuant to the provisions of the 1934 Act, the Company has timely filed all reports and other materials required to be filed thereunder with the Commission during the preceding twelve months. As of the Closing Date, the Company is not a “shell company” but is a “former shell company” as those terms are employed in Rule 144 under the 1933 Act.

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Regulated Investment Company The Company has elected to be treated, and has operated, and intends to continue to operate, its business in such a manner so as to enable the Company to continue to qualify as a regulated investment company under Subchapter M of the Code. The Company intends to direct the investment of the proceeds of the offering of the Securities in such a manner as to comply with the requirements of Subchapter M of the Code.

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