SOLVENCY AND PAYMENT OF LIABILITIES. Purchaser will on and immediately after the Closing, either as a result of the transactions contemplated by this Agreement or otherwise, (a) not be insolvent, as such term is defined in the Title 11 Bankruptcy of the United States Code or any New York statute relating to insolvency, (b) shall have debts not greater than all of its property and (c) will be able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Seller is not on the date hereof, nor will it be on the Closing Date, either as a result of the transactions contemplated by this Agreement or otherwise, insolvent, as such term is defined in the Title 11 Bankruptcy of the United States Code or any Ohio statute relating to insolvency; the sum of its debts is not greater than all of its property on the date hereof nor will it be on the Closing Date either as a result of the transactions contemplated hereby or otherwise; and it is on the date hereof, and will be after the Closing Date, able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Inmark is not on the date hereof, nor will it be on the Closing Date, either as a result of the transactions contemplated by this Agreement or otherwise, insolvent, as such term is defined in the Title 11 Bankruptcy of the United States Code or any New York statute relating to insolvency; the sum of its debts is not greater than all of its property on the date hereof nor will it be on the Closing Date either as a result of the transactions contemplated hereby or otherwise; and it is on the date hereof, and will be after the Closing Date, able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Seller will not be on the Closing Date, either as a result of the transactions contemplated by this Agreement or otherwise, insolvent, as such term is defined in Title 11-Bankruptcy of the United States Code or any state statute relating to insolvency; the sum of its debts is not greater than all of its property on the date hereof nor will it be on the Closing Date either as a result of the transactions contemplated herein or otherwise; and it is on the date hereof, and will be after the Closing Date, able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Each of Sellers will on the Closing Date, either as a result of the transactions contemplated by this Agreement or otherwise, (a) not be insolvent, as such term is defined in the Title 11 Bankruptcy of the United States Code or any New York statute relating to insolvency, (b) shall have debts not greater than all of its property and (c) will be able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Gibralter is not either as a ----------------------------------- result of the transactions contemplated by the Option Agreement or otherwise, insolvent, as such term is defined in the Title 11 of the Bankruptcy Code of the United States or any similar state statute. The sum of Gibralter's debts is not greater than all of its property on the date hereof either as a result of the transactions contemplated herein or otherwise, and Gibralter is, and will be after the Closing, able to pay its debts as they mature.
SOLVENCY AND PAYMENT OF LIABILITIES. Each of Seller and the Company is not, on the date hereof, either as a result of the transactions contemplated by this Agreement or otherwise, "insolvent," as such term is defined in Chapter 11 of Title 11 of the United States Code or any similar state statute and is not an "insolvent person" as such term is defined in the Bankruptcy and Insolvency Act (Canada); and that the sum of its debts is not greater than all of its property on the date hereof either as a result of the transactions contemplated herein or otherwise; and that it is on the date hereof, and will be after consummation of the transactions contemplated hereby, able to pay its debts as they mature.
