Common use of Solvency of Customers Clause in Contracts

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 40 contracts

Samples: Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (ARKO Corp.)

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Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 17 contracts

Samples: Security Agreement (Rheometric Scientific Inc), Security Agreement (Pc Service Source Inc), Security Agreement (PVC Container Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 14 contracts

Samples: Security Agreement (TCP International Holdings Ltd.), Security Agreement (TCP International Holdings Ltd.), Subordination Agreement (Obsidian Enterprises Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 8 contracts

Samples: Security Agreement (Hudson Technologies Inc /Ny), Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.)

Solvency of Customers. Each Customer, to the best of each Borrower’s Loan Party's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower Loan Party who are not solvent such Borrower Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 5 contracts

Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc), Security Agreement (Cold Metal Products Inc)

Solvency of Customers. Each Customer, to the best of each BorrowerCredit Party’s reasonable knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 4 contracts

Samples: Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s Borrowers’ knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are known to such Borrower not to be solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 4 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Security Agreement (SMTC Corp), Security Agreement (SMTC Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 3 contracts

Samples: , and Security Agreement (Rocky Brands, Inc.), Guaranty, and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.)

Solvency of Customers. Each Customer, to the best of each the applicable Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are is not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 3 contracts

Samples: Security Agreement (Dreams Inc), Security Agreement (Intcomex, Inc.), Security Agreement (Phosphate Holdings, Inc.)

Solvency of Customers. Each Customer, to the best actual knowledge of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower Borrower, to the actual knowledge of such Borrower, who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Security Agreement (UniTek Global Services, Inc.), Security Agreement (UniTek Global Services, Inc.)

Solvency of Customers. Each CustomerCustomer of each Borrower, to the best of each such Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the such Customer is obligated in full when due or with respect to such Customers of any such Borrower who are not solvent solvent, such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Security Agreement (Richton International Corp), Security Agreement (Richton International Corp)

Solvency of Customers. Each Customer, to To the best of each Borrower’s knowledge, each Customer, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc), Revolving Credit (Allied Motion Technologies Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Security Agreement (Goodman Networks Inc), Security Agreement (Apac Customer Service Inc)

Solvency of Customers. Each Customer, to the best extent of each Borrower’s 's ---------------------- actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Security Agreement (Delta Woodside Industries Inc /Sc/), Security Agreement (Delta Mills Inc)

Solvency of Customers. Each Customer, to the best knowledge of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent Solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent Solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Intercreditor Agreement (Empeiria Acquisition Corp), Security Agreement (Empeiria Acquisition Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables Accounts on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesAccounts.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due due, or with respect to such Customers of any Borrower who who, to the best of Borrower's knowledge are not solvent such solvent, Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Prima Group International Inc)

Solvency of Customers. Each Customer, to the best of each the Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with due. With respect to such Customers of any Borrower who are not solvent such the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Advanced Lighting Technologies Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are are, to the best of each Borrower’s knowledge, not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Hutchinson Technology Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

Solvency of Customers. Each Customer, to the best knowledge of each Borrower’s knowledgethe Borrowers, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Semx Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s --------------------- Borrowers' knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Styrochem International Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not to Borrower’s knowledge solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Solvency of Customers. Each Customercustomer, to the best of each the Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer customer is obligated in full when due or or, with respect to such Customers customers of any Borrower Party who are not solvent such solvent, the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Fidelity National Information Solutions Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date of creation of each Receivable as to which such Customer is createdobligated, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Katy Industries Inc)

Solvency of Customers. Each CustomerCustomer of each --------------------- Borrower, to the best of each such Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Radnor Holdings Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Loan and Security Agreement (Lets Talk Cellular & Wireless Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.. (c)

Appears in 1 contract

Samples: Credit, Term Loan And Security Agreement (Measurement Specialties Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables to the extent such Receivables are not covered by credit insurance with respect to such Customer's Receivables.

Appears in 1 contract

Samples: Security Agreement (Waxman Industries Inc)

Solvency of Customers. Each Customer, to the best of each the Borrower’s 's knowledge, as of the date each Receivable with respect to such Customer is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with due. With respect to such Customers of any the Borrower who are not solvent such solvent, the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Solvency of Customers. Each Customer, to the best of each the applicable Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are is not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit (Teamstaff Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Dreamlife Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who who, to the knowledge of such Borrower, are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Compudyne Corp)

Solvency of Customers. Each Customer, to the best of each BorrowerCompany’s actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower the Company who are not solvent such Borrower the Company has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Reimbursement and Security Agreement (Apac Customer Service Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s the Borrowers' knowledge, as of the date each Receivable with respect to such Customer is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with due. With respect to such Customers of any Borrower Borrowers who are not solvent such Borrower has solvent, the Borrowers have set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivablesrequired in accordance with GAAP.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Solvency of Customers. Each Customer, to the best of each the Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the such Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivablesdue.

Appears in 1 contract

Samples: Tristar Corp

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.. (c)

Appears in 1 contract

Samples: Security Agreement (Terrace Holdings Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Franklin Electronic Publishers Inc)

Solvency of Customers. Each CustomerCustomer of each Borrower, to the --------------------- best of each such Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Radnor Holdings Corp)

Solvency of Customers. Each Customer, to the best of each the applicable Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent solvent, following knowledge thereof by such Borrower, such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Valuevision Media Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or or, with respect to such Customers of any Borrower who are not solvent such solvent, Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Centurion Wireless Technologies Inc)

Solvency of Customers. Each Customer, to the best of each --------------------- Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables, to the extent determined not to be collectible.

Appears in 1 contract

Samples: Air Methods Corp

Solvency of Customers. Each Except as has been disclosed to Agent in writing, each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Robotic Vision Systems Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's and each Affiliate Guarantor's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower or Affiliate Guarantor who are not solvent such Borrower or Affiliate Guarantor has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (HLM Design Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's --------------------- knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or due, and, with respect to such Customers of any Borrower who are not solvent such solvent, Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Lender Assignment Agreement (Tarrant Apparel Group)

Solvency of Customers. Each Customer, to the best of each the Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any the Borrower who are not solvent such the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

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Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower Borrowers who are not solvent such Borrower has Borrowers have set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Creditandsecurity Agreement (TCP International Holdings Ltd.)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not to Borrowers’ knowledge solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate in accordance with GAAP to cover such Receivables.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

Solvency of Customers. Each Customer, to the best of the Borrower's and each Borrower’s Guarantor's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of the Borrower or any Borrower Guarantor who are not solvent the Borrower or such Borrower Guarantor has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: And Security Agreement (McMS Inc /De/)

Solvency of Customers. Each Customer, to the best of each Borrower’s Borrowers' knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivablesthe uncollectible portion.

Appears in 1 contract

Samples: Security Agreement (Imco Recycling Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledgeknowledge based upon Borrowers’ customary due diligence performed in the ordinary course of business, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Solvency of Customers. Each Customer, to the best actual knowledge of each the Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any the Borrower who are not solvent such the Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Horsehead Holding Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesReceivables in accordance with GAAP.

Appears in 1 contract

Samples: Security Agreement (Meridian Sports Inc)

Solvency of Customers. Each Customer, to the best extent of each Borrower’s 's actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: And Security Agreement (Delta Mills Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's and Guarantor's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower or Guarantor who are not solvent such Borrower or Guarantor has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Solvency of Customers. Each Customer, to the best of each the respective Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Vista Information Solutions Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Sypris Solutions Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Eos International Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves such Borrower reasonably deemed adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Gencor Industries Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who who, to the best of such Borrower's knowledge, are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit (Graham Field Health Products Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s Borrowers' knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the such Customer is obligated in full when due or with respect to such Customers of any Borrower Borrowers who are not solvent such solvent, the applicable Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (General Datacomm Industries Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable Account is created, is and will be solvent and able to pay all Receivables Accounts on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesAccounts.

Appears in 1 contract

Samples: Security Agreement (Parlux Fragrances Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s the Borrowers' knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or due, and with respect to such Customers of any Borrower Borrowers who are not solvent such Borrower has solvent, the Borrowers have set up on its their books and in its their financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Credit and Security Agreement (Canisco Resources Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesReceivables as required by GAAP.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Cygne Designs Inc)

Solvency of Customers. Each Customer, to the best of each ----------------------- Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Solvency of Customers. Each Customer, to the best extent of each Borrower’s 's actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who who, to Borrower's actual knowledge, are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Signal Apparel Company Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of due. If any Borrower who are determines that any Customer of such Borrower is not solvent or not able to pay all Receivables on which such Customer is obligated in full when due, such Borrower has will promptly notify Agent thereof and will set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Zanett Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s the Corporations' knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower the Corporations who are not solvent such Borrower solvent, the applicable Corporation has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Warrant Agreement (Us Home & Garden Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any such Borrower who are not solvent such Borrower has will set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Financing Agreement (Cpac Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's actual knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Danskin Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivablesrequired in accordance with GAAP.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Solvency of Customers. Each Customer, to the best of each Borrower’s Borrowers' --------------------- knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Styrochem International LTD)

Solvency of Customers. Each Customer, to the best of each --------------------- Borrower’s 's knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or or, with respect to such Customers of any Borrower who are not solvent solvent, such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesReceivables to the extent determined not to be collectible.

Appears in 1 contract

Samples: Air Methods Corp

Solvency of Customers. Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is solvent and will be solvent at the time such Receivable shall be due, and able to pay all Receivables on which the Customer is obligated in full when due or and with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 1 contract

Samples: Security Agreement (Kenexa Corp)

Solvency of Customers. Each Customer, to the best of each Borrower’s Borrowers' knowledge, as of the date each Receivable for such Customer is created, is and will be solvent and able to pay all Receivables on which the such Customer is obligated in full when due or or, with respect to such Customers of any Borrower who are not solvent such solvent, the relevant Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.. BLU-69367_7/ZRM1343/PNC008-129635 012000/11:12 37

Appears in 1 contract

Samples: Security Agreement (HMG Worldwide Corp)

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