Solvency of the Lessee. The Lessee shall have furnished to the Participants and the Policy Provider an Officer's Solvency Certificate (substantially in the form attached hereto as Exhibit F) as to the solvency of the Lessee as of the Closing Date stating, among other things, that on the Closing Date (i) the Collection Account has a balance of $1,342,000.00 and (ii) the Lessee has funded the Liquidity Reserve Account and the Bolster Repair Account with $5,135,949.00 and $252,000 in cash, respectively.

Solvency of the Lessee. The Lessee shall have furnished to the Participants an Officer's Solvency Certificate (substantially in the form attached hereto as Exhibit F) as to the solvency of the Lessee as of the Closing Date stating, among other things, that on the Closing Date (i) the Collection Account has a balance of $541,755, (ii) the Lessee has funded the Liquidity Reserve Account with $6,750,000 in cash, (iii) the Lessee has delivered the deposit of $625,000 to an account designated by the Depositary (as defined in the Pass Through Trust Agreement) (or an Affiliate of the Depositary) as collateral for the Lessee's obligations under that certain Indemnity Agreement dated as of the date hereof between the Lessee and the Depositary, (iv) the Lessee has funded the Special Second Closing Account with $320,000 in cash, (v) the Lessee has funded the Excess Cash Account with $5,000,000 in cash and (vi) the Lessee has funded the Pledged Equipment Proceeds Account with $4,232,000 in cash. (u) Schedule of Subleases, Pledged Equipment Leases, Units and Pledged Units. The Participants and the Collateral Agent shall have received a schedule, certified by the Lessee and TILC, listing the Existing Equipment Subleases under the Lease, the Sublessee under each thereof and the Units covered thereby. The Participants and the Collateral Agent shall have also received a schedule, certified by the Lessee and TILC, listing the Existing Pledged Equipment Leases, the Pledged Equipment Lessee under each thereof and the Pledged Units covered thereby.

Solvency of the Lessee. The Lessee shall have furnished to the ---------------------- Participants an Officer's Certificate as to the solvency of the Lessee as of the Closing Date stating, among other things, that on the Closing Date the Liquidity Reserve Account (as defined in the Intercreditor Agreement) has a balance of $500,000 and the Collection Account has a balance of $1,500,000.

Related to Solvency of the Lessee

INSOLVENCY OF THE COMPANY Company shall notify the FHCF immediately upon becoming insolvent. Except as otherwise provided below, no covered loss reimbursements will be made until the FHCF has completed and closed its examination of the insolvent Company’s losses, unless an agreement is entered into by the court appointed receiver specifying that all data and computer systems required for FHCF exposure and loss examinations will be maintained until completion of the Company’s exposure and loss examinations. Except as otherwise provided below, in order to account for potential erroneous reporting, the SBA shall hold back 25% of requested loss reimbursements until the exposure and loss examinations for the Company are completed. Only those losses supported by the examination will be reimbursed. Pursuant to Section 215.555(4)(g), Florida Statutes, the FHCF is required to pay the “net amount of all reimbursement moneys” due an insolvent insurer to the Florida Insurance Guaranty Association (FIGA) for the benefit of Florida policyholders. For the purpose of this Contract, a Company is insolvent when an order of liquidation with a finding of insolvency has been entered by a court of competent jurisdiction. In light of the need for an immediate infusion of funds to enable policyholders of insolvent companies to be paid for their claims, the SBA may enter into agreements with FIGA allowing exposure and loss examinations to take place immediately without the usual notice and response time limitations and allowing the FHCF to make loss reimbursements (net of any amounts payable to the SBA from the Company or FIGA) to FIGA before the examinations are completed and before the response time expires for claims filing by reinsurers and financial institutions, which have a priority interest in those funds pursuant to Section 215.555(4)(g), Florida Statutes. Such agreements must ensure the availability of the necessary records and adequate security must be provided so that if the FHCF determines that it overpaid FIGA on behalf of the Company, or if claims are filed by reinsurers or financial institutions having a priority interest in these funds, that the funds will be repaid to the FHCF by FIGA within a reasonable time.
Insolvency of the Reinsurer In the event of the insolvency, bankruptcy, receivership, rehabilitation or dissolution of the Reinsurer, the Reinsured may retain all or any portion of any amount then due or which may become due to the Reinsurer under this Agreement and use such amounts for the purposes of paying any and all liabilities of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured will pay the Reinsurer, its successor or statutory receiver, the balance of such amounts withheld as may remain.
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.
Occupancy of the Mortgaged Property As of the related Closing Date the Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. The Mortgagor represented at the time of origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor's primary residence;
Mortgagor The obligor on a Mortgage Note. ---------
Frequency of Evaluation Long form employees shall be evaluated at least one (1) time each year, which evaluation shall be completed no later than June 1.
Mortgagee Upon WTC giving any notice in accordance with Section 11.1, Mortgagee shall (if and so long as such citizenship is necessary under the Act as in effect at such time or, if it is not necessary, if and so long as Mortgagee's citizenship could have any adverse effect on Owner, or any Note Holder), subject to Section 9.02 of the Trust Indenture, resign as Mortgagee promptly upon its ceasing to be such a citizen.
Landlord Covenants At all times during the Term, Landlord covenants and agrees as follows:
Lessor It is important that the full name of the Entity leasing the commercial space is reported as the Lessor.
Notification of Creditor Parties and Security Parties The Agent shall send to each Lender, the Security Trustee and each Security Party a copy or the text of any notice which the Agent serves on the Borrower under Clause 19.2; but the notice shall become effective when it is served on the Borrower, and no failure or delay by the Agent to send a copy or the text of the notice to any other person shall invalidate the notice or provide the Borrower or any Security Party with any form of claim or defence.

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