Common use of Solvency; Fraudulent Conveyance Clause in Contracts

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due and will not be rendered insolvent by the transactions contemplated by the Basic Documents and, after giving effect thereto, will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property to the Trust constitutes reasonably equivalent value and fair consideration for the Seller Property. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, with any intent to hinder, deal or defraud any of Credit Acceptance’s creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due and will not be rendered insolvent by the transactions contemplated by the Basic Documents and, after giving effect thereto, will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property to the Trust constitutes reasonably equivalent value and fair consideration for the Seller Property. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, with any intent to hinder, deal or defraud any of Credit Acceptance’s creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not be rendered insolvent by the transactions contemplated by the Basic Documents any Transaction and, after giving effect theretoto each such Transaction, each Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does and, if applicable, the Manager, the General Partner and the Limited Partner, is not contemplate contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property Purchased Assets to the Trust Buyer constitutes reasonably equivalent value and fair consideration for the Seller Propertysuch Purchased Assets. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, transferring any Purchased Assets with any intent to hinder, deal delay or defraud any of Credit Acceptance’s its creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due and will not be rendered insolvent by the transactions contemplated by the Basic Documents and, after giving effect thereto, will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property to the Trust constitutes reasonably equivalent value and fair consideration for the Seller Property. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, with any intent to hinder, deal or defraud any of Credit Acceptance’s 's creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not be rendered insolvent by the transactions contemplated by the Basic Transaction Documents and, after giving effect theretoto such transactions, the Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of the Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property Certificates to the Trust Underwriters, together with the value of the Certificates and Class C Certificate retained by the Seller or its Subsidiaries, constitutes reasonably equivalent value and fair consideration for the Seller PropertyLoans transferred to the Issuer. The Seller is not transferring the Loans to the Issuer or selling the Seller Property Certificates to the TrustUnderwriters, as provided in the Basic Transaction Documents, with any intent to hinder, deal delay or defraud any of Credit Acceptance’s the Seller's creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not be rendered insolvent by the transactions contemplated by the Basic Documents any Transaction and, after giving effect theretoto each such Transaction, Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does and, if applicable, the Parent Entity, the Manager, the General Partner or the Limited Partner, is not contemplate contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property Purchased Assets to the Trust Administrative Agent on behalf of Buyer constitutes reasonably equivalent value and fair consideration for the Seller Propertysuch Purchased Assets. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, transferring any Purchased Assets with any intent to hinder, deal delay or defraud any of Credit Acceptance’s its creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not -------------------------------- be rendered insolvent by the transactions contemplated by the Basic Documents Transaction and, after giving effect theretoto such Transaction, Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does is not contemplate contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Mortgage Loans to Buyer and thereafter upon the sale of any Mortgage Loans by the Seller Property to the Trust Buyer constitutes reasonably equivalent value and fair consideration for the Seller Propertysuch Mortgage Loans. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, transferring any Mortgage Loans with any intent to hinder, deal delay or defraud any of Credit Acceptance’s its creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not be rendered insolvent by the transactions contemplated by the Basic Documents Transaction and, after giving effect theretoto such Transaction, Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does is not contemplate contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Loans to Nikko and thereafter upon the sale of any Purchased Securities by Seller Property to the Trust Nikko constitutes reasonably equivalent value and fair consideration for the Seller Propertysuch Purchased Securities. The Seller is not selling the Seller Property to the Trust, as provided in the Basic Documents, transferring any Purchased Securities with any intent to hinder, deal delay or defraud any of Credit Acceptance’s its creditors.

Solvency; Fraudulent Conveyance. The Seller is solvent, is able to pay its debts as they become due solvent and will not be rendered insolvent by the transactions contemplated by the Basic Transaction Documents and, after giving effect theretoto such transactions, the Seller will not be left with an unreasonably small amount of capital with which to engage in its business. The Seller does not intend to incur, or believes believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Seller does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official for in respect of the Seller or any of its assets. The amount of consideration being received by the Seller upon the sale of the Seller Property Mortgage Loans to the Trust Depositor constitutes reasonably equivalent value and fair consideration for the Seller Propertyinterest in the Mortgage Loans being transferred. The Seller is not selling transferring the Seller Property Mortgage Loans to the TrustDepositor, as provided in the Basic Transaction Documents, with any intent to hinder, deal delay or defraud any of Credit Acceptance’s the Seller's creditors.