Common use of No Insolvency or Judgment Clause in Contracts

No Insolvency or Judgment. Neither Borrower, nor any general partner or member of Borrower, nor any Guarantor of the Loan is currently (a) the subject of or a party to any completed or pending bankruptcy, reorganization or insolvency proceeding; or (b) the subject of any judgment unsatisfied of record or docketed in any court of the state in which the Trust Property is located or in any other court located in the United States. The Loan will not render the Borrower nor any general partner or member of Borrower insolvent. As used herein, the term "insolvent" means that the sum total of all of an entity's liabilities (whether secured or unsecured, contingent or fixed, or liquidated or unliquidated) is in excess of the value of all such entity's non-exempt assets, i.e., all of the assets of the entity that are available to satisfy claims of creditors.

No Insolvency or Judgment. Neither Borrower, nor any general partner or member of Borrower, nor any Guarantor of the Loan Loans is currently (a) the subject of or a party to any completed or pending bankruptcy, reorganization or insolvency proceeding; or (b) the subject of any judgment unsatisfied of record or docketed in any court of the state in which the Trust Property is located or in any other court located in the United States. The Loan Loans will not render the Borrower nor any general partner or member of Borrower insolvent. As used herein, the term "insolvent" means that the sum total of all of an entity's liabilities (whether secured or unsecured, contingent or fixed, or liquidated or unliquidated) is in excess of the value of all such entity's non-exempt assets, i.e., all of the assets of the entity that are available to satisfy claims of creditors.

No Insolvency or Judgment. Neither BorrowerNone of Grantor, nor any general partner partner, manager or member of BorrowerGrantor, nor or any Guarantor guarantor of the Loan Loan, is currently (a) the subject of or a party to any completed or pending bankruptcy, reorganization or insolvency proceeding; or (b) the subject of any unsatisfied judgment unsatisfied of record or docketed in any court of the state in which the Trust Property is located or in any other court located in the United States. The proposed Loan will not render the Borrower Grantor nor any general partner or member of Borrower Grantor insolvent. As used hereinin this paragraph, the term "insolvent" means that the sum total of all of an entity's liabilities (whether secured or unsecured, contingent or fixed, or liquidated or unliquidated) is in excess of the value of all such entity's non-exempt assets, i.e., all of the assets of the entity that are available to satisfy claims of creditors.