Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the Transactions, each Loan Party will be solvent, able to pay its debts as they mature, has capital sufficient to carry on its business and all businesses in which it is about to engage, and (i) as of the Closing Date, the fair present saleable value of each Loan Party's assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) subsequent to the Closing Date, the fair saleable value of each Loan Party's assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
Appears in 2 contracts
Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)
Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the Transactions, each Loan Party will be solvent, able to pay its debts as they mature, has will have capital sufficient to carry on its business and all businesses in which it is about to engage, and (i) as of the Closing Date, the fair present saleable value of each Loan Party's its assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) subsequent to the Closing Date, the fair saleable value of each Loan Party's its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
Appears in 2 contracts
Samples: Security Agreement (General Finance CORP), Security Agreement (Dri Corp)
Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the Transactions, each Loan Party will be solvent, able to pay its debts as they mature, has capital sufficient to carry on its business and all businesses in which it is about to engage, and (i) as of the Closing Date, the fair present saleable value of each Loan Party's ’s assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) subsequent to the Closing Date, the fair saleable value of each Loan Party's ’s assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
Appears in 1 contract
Samples: Loan and Security Agreement (Bucyrus International Inc)
Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the Transactions, each Each Loan Party will be is solvent, able to pay its debts as they mature, has capital sufficient to carry on its business and all businesses in which it is about to engage, and (i) as of the Closing Date, the fair present saleable value of each Loan Party's assets, its assets (calculated on a going concern basis, ) is in excess of the amount of its liabilities and (ii) subsequent to the Closing Date, the fair saleable value of each Loan Party's its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.
Appears in 1 contract
