Common use of Solvency of Customers Clause in Contracts

Solvency of Customers. Each Customer, to the best of each 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 such Loan Party who are not solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Castle a M & Co, Security Agreement (General Finance CORP)

AutoNDA by SimpleDocs

Solvency of Customers. Each Customer, to the best of each Loan Party's 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 or, with respect to such Customers of such any Loan Party who are not solvent solvent, such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

Appears in 2 contracts

Samples: Loan and Security Agreement (Vision-Ease Lens CORP), Loan and Security Agreement (Vision-Ease Lens, Inc.)

Solvency of Customers. Each Customer, to the best of each Loan Party's Parties 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 such any Loan Party who are not solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such Receivablesthe uncollectible portion.

Appears in 2 contracts

Samples: Security Agreement (Lesco Inc/Oh), And (Blonder Tongue Laboratories Inc)

Solvency of Customers. Each Customer, to the best of each 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 such any Loan Party who are not solvent such Loan Party has set up on its books and in its financial records bad debt reserves reasonably adequate to cover such ReceivablesReceivables on a basis consistent with GAAP.

Appears in 1 contract

Samples: Loan and Security Agreement (Brown Jordan International Inc)

Solvency of Customers. Each Customer, to the best of each Loan Party's Parties’ 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 such any Loan Party who are not solvent such Loan Party 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 Loan Party'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 such any Loan Party who are not solvent such Loan Party 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 (Allegheny Technologies Inc)

Solvency of Customers. Each Customer, to the best of each Loan Party's Parties' 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 such Loan Party Parties who are not solvent such solvent, Loan Party has Parties, as applicable, 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: Loan and Security Agreement (Tb Woods Corp)

Solvency of Customers. Each Customer, to the best of each Loan Party'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 such any Loan Party who are not solvent such Loan Party 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 (Allegheny Technologies Inc)

AutoNDA by SimpleDocs

Solvency of Customers. Each Customercustomer, to the best of each Loan Party's actual 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 customer is obligated in full when due or with respect to such Customers customers of such Loan Party who are not solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesAccounts.

Appears in 1 contract

Samples: Loan and Security Agreement (INVACARE HOLDINGS Corp)

Solvency of Customers. Each Customer, to the best of each applicable Loan Party'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 such any Loan Party who are not solvent such Loan Party 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: Revolving Credit (Radnor Holdings Corp)

Solvency of Customers. Each Customer, to the best of each Loan Party'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 such any Loan Party who are not solvent such Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesAccounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Stanadyne Automotive Corp)

Solvency of Customers. Each Customer, to the best of each Loan Party'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 such each Loan Party who are not solvent such solvent, each Loan Party has set up on its books and in its financial records bad debt reserves adequate to cover such ReceivablesAccounts.

Appears in 1 contract

Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)

Solvency of Customers. Each Customer, to the best of each Loan Party's ’s knowledge, as of the date each Receivable is created, is solvent 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 such any Loan Party who are not solvent such Loan Party 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 (Edgen Louisiana CORP)

Time is Money Join Law Insider Premium to draft better contracts faster.