No Insolvencies. Neither the Company nor any Guarantor is “insolvent” (that is, the sum of such Person’s absolute and contingent liabilities, including the Obligations, does not exceed the fair value of such Person’s assets, including any rights of contribution, reimbursement or indemnity). Each of the Company and each Guarantor has capital which is not unreasonably small for the businesses in which such Person is engaged and intends to be engaged. None of the Company nor any Guarantor has incurred (whether hereby or otherwise), nor does the Company or Guarantor intend to incur or believe that it will incur, liabilities which will be beyond its ability to pay as such liabilities mature.
Appears in 2 contracts
Samples: Term Loan Agreement (Exploration Co of Delaware Inc), Credit Agreement (Exploration Co of Delaware Inc)
No Insolvencies. Neither the Company nor any Guarantor is “"insolvent” " (that is, the sum of such Person’s 's absolute and contingent liabilities, including the Obligations, does not exceed the fair market value of such Person’s 's assets, including any rights of contribution, reimbursement or indemnity). Each of the Company and each Guarantor has capital which is not unreasonably small adequate for the businesses in which such Person is engaged and intends to be engaged. None of the Company nor any Guarantor has incurred (whether hereby or otherwise), nor does the Company or Guarantor intend to incur or believe that it will incur, liabilities which will be beyond its ability to pay as such liabilities mature.
Appears in 2 contracts
Samples: Term Loan Agreement (Venoco, Inc.), Credit Agreement (Venoco, Inc.)
No Insolvencies. Neither the Company nor any Guarantor is “"insolvent” " on the date hereof (that is, the sum of such Person’s 's absolute and contingent liabilities, including the Obligations, does not exceed the fair market value of such Person’s 's assets, including any rights of contribution, reimbursement or indemnity). Each of the Company and each Guarantor has capital which is not unreasonably small adequate for the businesses in which such Person is engaged and intends to be engaged. None of the Company nor any Guarantor has incurred (whether hereby or otherwise), nor does the Company or Guarantor intend to incur or believe that it will incur, liabilities which will be beyond its ability to pay as such liabilities mature.
Appears in 1 contract
Samples: Credit Agreement (BMC, Ltd.)
No Insolvencies. Neither the Company nor any Guarantor is “insolvent” (that is, the sum of such Person’s absolute and contingent liabilities, including the Obligations, does not exceed the fair market value of such Person’s assets, including any rights of contribution, reimbursement or indemnity). Each of the Company and each Guarantor has capital which is not unreasonably small adequate for the businesses in which such Person is engaged and intends to be engaged. None of the Company nor any Guarantor has incurred (whether hereby or otherwise), nor does the Company or Guarantor intend to incur or believe that it will incur, liabilities which will be beyond its ability to pay as such liabilities mature.
Appears in 1 contract
Samples: Term Loan Agreement (Venoco, Inc.)
No Insolvencies. Neither the Company nor any Guarantor is “"insolvent” " (that is, the sum of such Person’s 's absolute and contingent liabilities, including the Obligations, does not exceed the fair value of such Person’s 's assets, including any rights of contribution, reimbursement or indemnity). Each of the Company and each Guarantor has capital which is not unreasonably small for the businesses in which such Person is engaged and intends to be engaged. None of the Company nor any Guarantor has incurred (whether hereby or otherwise), nor does the Company or Guarantor intend to incur or believe that it will incur, liabilities which will be beyond its ability to pay as such liabilities mature.
Appears in 1 contract
