Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. (a) (i) After giving effect to the Transactions, each Loan Party will be solvent, able to pay its debts as they mature, will have capital sufficient to carry on its business and all businesses in which it is about to engage, (ii) as of the Closing Date, the fair present saleable value of its assets, calculated on a going concern basis, is in excess of the amount of its liabilities, and (iii) subsequent to the Closing Date, the fair saleable value of its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
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Samples: Security Agreement (Ampco Pittsburgh Corp), Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.), Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.)
Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. (a) (i) After giving effect to the Transactions, each Loan Credit Party will be is solvent, able to pay its debts as they mature, will have has capital sufficient to carry on its business and all businesses in which it is about to engage, (ii) as of the Closing Date, the fair present saleable value of its assets, calculated on a going concern basis, is in excess of the amount of its liabilitiesliabilities (actual, contingent or otherwise), and (iii) subsequent to the Closing Date, the fair saleable value of its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
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Samples: Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP), Second Lien Credit Agreement (Great Lakes Dredge & Dock CORP), Credit and Security Agreement (Great Lakes Dredge & Dock CORP)
Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. (a) (i) After giving effect to the Transactionstransactions contemplated by this Agreement, each Loan Party will be solvent, able to pay its debts as they mature, will have capital sufficient to carry on its business and all businesses in which it is about to engage, (ii) as of the Closing Date, 97 222233776 the fair present saleable value of its assets, calculated on a going concern basis, is in excess of the amount of its liabilities, and (iii) subsequent to the Closing Date, the fair saleable value of its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
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Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. (a) (i) After giving effect to the Transactions, each Loan Party will be is solvent, able to pay its debts as they mature, will have has capital sufficient to carry on its business and all businesses in which it is about to engage, (ii) as of the Closing Date, the fair present saleable value of its assetsthe assets of each Loan Party, calculated on a going concern basis, is in excess of the amount of its liabilitiesliabilities of such Loan Party, and (iii) subsequent to the Closing Date, the fair saleable value of its the assets of each Loan Party (calculated on a going concern basis) will be in excess of the amount of its liabilitiesthe liabilities of such Loan Party.
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Solvency; No Litigation, Violation, Indebtedness or Default; ERISA Compliance. (a) (i) After giving effect to the Transactionstransactions contemplated by this Agreement, each Loan Party will be solvent, able to pay its debts as they mature, will have capital sufficient to carry on its business and all businesses in which it is about to engage, (ii) as of the Closing Date, the fair present saleable value of its assets, calculated on a going concern basis, is in excess of the amount of its liabilities, and (iii) subsequent to the Closing Date, the fair saleable value of its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
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