Common use of Representations Regarding Borrowers’ Solvency Clause in Contracts

Representations Regarding Borrowers’ Solvency. Borrowers represent and warrant to Lender as follows: (a) The application of the Loan proceeds constitutes reasonably equivalent value in exchange for all of the transfers for security made and obligations incurred by each Borrower under the Loan Documents. (b) No Security Instrument is being executed by any Borrower for or on account of any antecedent debt owed by any Borrower to Lender. (c) No Borrower is insolvent as of the date hereof. (d) The execution, delivery and, where applicable, the recordation or filing of the Security Instruments is intended by Borrowers and Lender to be a contemporaneous exchange for new value given to Borrowers and shall in fact be a substantially contemporaneous exchange. (e) The transfers for security made and obligations incurred by Borrowers under the Loan Documents are not made with actual intent to hinder, delay, or defraud any entity to which any Borrower was, is, or subsequently becomes indebted. (f) No Borrower is or shall be insolvent (as defined above) on the date that any transfer is to be made or obligation to be incurred under the terms of the Loan Documents, nor shall any Borrower become insolvent as a result of such transfer or obligation. (g) No Borrower is engaged in business or a transaction, or is about to engage in business or a transaction, for which any property remaining with such Borrower is an unreasonably small amount of capital in relation to such business or transaction. (h) No Borrower intends to incur, or believes that it will incur, debts that would be beyond such Borrowers ability to pay as such debts mature.

Representations Regarding Borrowers’ Solvency. Borrowers represent and warrant to Lender as follows: (a) The application of the Loan proceeds constitutes reasonably equivalent value in exchange for all of the transfers for security made and obligations incurred by each Borrower under the Loan Documents. (b) No Security Instrument is being executed by any Borrower for or on account of any antecedent debt owed by any Borrower to any Lender. (c) No Borrower is insolvent as of the date hereof. (d) The execution, delivery and, where applicable, the recordation or filing of the Security Instruments is intended by Borrowers and Lender to be a contemporaneous exchange for new value given to Borrowers and shall in fact be a substantially contemporaneous exchange. (e) The transfers for security made and obligations incurred by Borrowers under the Loan Documents are not made with actual intent to hinder, delay, or defraud any entity to which any Borrower was, is, or subsequently becomes indebted. (f) No Borrower is or shall be insolvent (as defined above) on the date that any transfer is to be made or obligation to be incurred under the terms of the Loan Documents, nor shall any Borrower become insolvent as a result of such transfer or obligation. (g) No Borrower is engaged in business or a transaction, or is about to engage in business or a transaction, for which any property remaining with such Borrower is an unreasonably small amount of capital in relation to such business or transaction. (h) No Borrower intends to incur, or believes that it will incur, debts that would be beyond such Borrowers ability to pay as such debts mature.

Representations Regarding Borrowers’ Solvency. Borrowers represent Each Borrower represents and warrant warrants to Lender as follows: (a) The application of the Loan proceeds constitutes reasonably equivalent value in exchange for all of the transfers for security made and obligations incurred by each Borrower under the Loan Documents. (b) No Security Instrument Mortgage is being executed by any Borrower for or on account of any antecedent debt owed by any Borrower to Lender. (c) No Borrower is insolvent as of the date hereof, nor shall any Borrower be insolvent on the date of the Loan Closing. (d) The execution, delivery and, where applicable, the recordation or filing and recording of the Security Instruments is Mortgages are intended by Borrowers and Lender to be a contemporaneous exchange for new value given to the Borrowers and shall in fact be a substantially contemporaneous exchange. (e) The transfers for security made and obligations incurred by Borrowers under the Loan Documents are not made with actual intent to hinder, delay, or defraud any entity to which any Borrower was, is, or subsequently becomes indebted. (f) No Borrower is or shall be insolvent (as defined above) on the date that any transfer is to be made or obligation to be incurred under the terms of the Loan Documents, nor shall any Borrower become insolvent as a result of such transfer or obligation. (g) No Borrower is engaged in business or a transaction, or is about to engage in business or a transaction, for which any property remaining with such Borrower is an unreasonably small amount of capital in relation to such business or transaction. (h) No Borrower intends to incur, or believes that it will incur, debts that would be beyond such Borrowers Borrower’s ability to pay as such debts mature.

Representations Regarding Borrowers’ Solvency. Borrowers further jointly and severally covenant, represent and warrant to Lender Prudential as follows: (a) The application proceeds of the Loan proceeds constitutes to be received by each of Borrowers, coupled with the additional consideration described in subparagraph 4(b) and other consideration described in the Loan Documents constitute reasonably equivalent value in exchange for all of the transfers for security made and obligations incurred by each Borrower Borrowers under the Loan Documents. (b) No Security Instrument The Deed of Trust is not being executed by any Borrower Borrowers for or on account of any antecedent debt owed by any Borrower to LenderPrudential. (c) No Borrower None of Borrowers is insolvent as of the date hereof, nor shall any Borrower be insolvent on the date of the Loan closing or the date of any Transfer. (d) The execution, delivery anddelivery, where applicable, the and recordation or filing of the Security Instruments Deed of Trust is intended by Borrowers Xxxxxxxxx and Lender Prudential to be a contemporaneous exchange for new value given to Borrowers Xxxxxxxxx, and shall in fact be a substantially contemporaneous exchange. (e) The transfers for security made and obligations incurred by Borrowers under the Loan Documents are not made with actual intent to hinder, delay, or defraud any entity to which any Borrower was, is, or subsequently becomes indebted. (f) No Borrower is or shall be insolvent (as defined above) on the date that any transfer is to be made or obligation to be incurred under the terms of the Loan DocumentsDocuments or on the date of the Loan closing, nor shall any Borrower become insolvent as a result of such transfer or obligation. (g) No Borrower is engaged in business or a transaction, or is about to engage in business or a transaction, on the date of this Certificate, the Loan closing or any such transfer, for which any property remaining with such Borrower is an unreasonably small amount of capital in relation to such business or transactioncapital. (h) No Borrower intends to incur, or believes that it will would incur, debts that would be beyond such Borrowers Xxxxxxxx's ability to pay as such debts maturematured.