Solvency of Customers. Each Customer, to each Credit Party’s knowledge, as of the date each Account is created, is and will be solvent and able to pay all Accounts on which the Customer is obligated in full when due or with respect to such Customers of each Credit Party who are not solvent, each Credit Party has set up on its books and in its financial records bad debt reserves adequate to cover such Accounts.
Appears in 6 contracts
Samples: Securities Purchase Agreement, Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Solvency of Customers. Each Customer, to the best of each Credit Loan Party’s 's knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each Credit any Loan Party who are not solvent, each Credit solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 5 contracts
Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)
Solvency of Customers. Each Customercustomer, to the best of each Credit Loan Party’s actual knowledge, as of the date each Account is created, is and will be solvent and able to pay all Accounts on which the Customer customer is obligated in full when due or with respect to such Customers customers of each Credit such Loan Party who are not solvent, each Credit solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such Accounts.
Appears in 3 contracts
Samples: Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (TENOR CAPITAL MANAGEMENT Co., L.P.), Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (Endurant Capital Management LP), Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (DG Capital Management, LLC)
Solvency of Customers. Each Customer, to the best of each Credit Loan Party’s knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each Credit any Loan Party who are not solvent, each Credit solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 3 contracts
Samples: Loan and Security Agreement (Dri Corp), Revolving Credit and Security Agreement (Dri Corp), Loan and Security Agreement (Bucyrus International Inc)
Solvency of Customers. Each Customer, to the best of each Credit Loan Party’s knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each Credit Party Loan Parties who are not solvent, each Credit solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 3 contracts
Samples: Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Rafaella Apparel Group,inc.), Loan Agreement (Verrazano,inc.)
Solvency of Customers. Each Customer, to each the best of the Credit Party’s Parties' knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each the Credit Party Parties who are not solvent, each the applicable Credit Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Us Home & Garden Inc), Credit, Guaranty and Security Agreement (Evergreen International Aviation Inc)
Solvency of Customers. Each Customer, to the best of each Credit Loan Party’s 's knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each Credit such Loan Party who are not solvent, each Credit solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 2 contracts
Samples: Debt Agreement (Castle a M & Co), Revolving Credit and Security Agreement (General Finance CORP)
Solvency of Customers. Each Customer, to the best of each Credit Party’s 's knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each any Credit Party who are not solvent, each solvent such Credit Party has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 1 contract
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Sunsource Inc)
Solvency of Customers. Each Customer, to each Credit Party’s 's reasonable knowledge, as of the date each Account Receivable is created, is and will be solvent and able to pay all Accounts Receivables on which the Customer is obligated in full when due or with respect to such Customers of each Credit Party Borrower who are not solvent, each Credit Party solvent Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such AccountsReceivables.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc)
Solvency of Customers. Each Customer, to each Credit Note Party’s knowledge, as of the date each Account is created, is and will be solvent and able to pay all Accounts on which the Customer is obligated in full when due or with respect to such Customers of each Credit Note Party who are not solvent, each Credit Note Party has set up on its books and in its financial records bad debt reserves adequate to cover such Accounts.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Meridian Waste Solutions, Inc.)
