No Secured Creditors; Solvency. (a) Except as disclosed by the Company in writing to Parent on the date hereof, the Company does not have any secured creditors and has not granted any fixed or floating security interests. (b) No Group Company has taken any steps to seek protection pursuant to any bankruptcy Law, nor does the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings or any knowledge of any fact which would reasonably lead a creditor to do so. The Group Companies on a consolidated basis are not, as of the Original Execution Date, Insolvent.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Ctrip Investment Holding Ltd.), Agreement and Plan of Merger (Ocean Imagination L.P.), Agreement and Plan of Merger (Zhang Ray Ruiping)
