Common use of Solvency; No Litigation, Violation, Indebtedness or Default Clause in Contracts

Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the transactions anticipated to occur on the Closing Date, each Loan Party will be solvent, able to pay its debts as they mature, 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 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.

Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the transactions anticipated to occur Transactions, Borrower and its Subsidiaries, on the Closing Datea consolidated basis, each Loan Party will be solvent, able to pay its debts as they mature, 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 assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) immediately 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.. For purposes of this 77

Solvency; No Litigation, Violation, Indebtedness or Default. (a) After giving effect to the transactions anticipated to occur on the Closing DateTransactions, each Loan Credit 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, and (i) as of the Closing Date, the fair present saleable value of each Loan such Credit Party’s 's assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) immediately subsequent to the Closing Date, the fair saleable value of each Loan such Credit Party’s 's assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.