Common use of Valid Business Reasons; No Fraudulent Transfers Clause in Contracts

Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer's business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such Grant: (i) the Issuer granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer; (ii) the Issuer was not insolvent and did not become insolvent as a result of any such Grant; (iii) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (iv) the Issuer did not intend to incur, and did not believe or should not have reasonably believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid received by the Issuer for the Grant of the Indenture Trust Estate was reasonably equivalent to the value of the related Grant.

Appears in 2 contracts

Samples: National Collegiate Student Loan Trust 2007-2, National Collegiate Student Loan Trust 2007-1

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Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer's business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such Grantgrant: (iA) the Issuer granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer; (iiB) the Issuer was not insolvent and did not become insolvent as a result of any such Grantgrant; (iiiC) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (ivD) the Issuer did not intend to incur, and did not believe or should not have reasonably believed, that it would incur, debts beyond its ability to pay as they become due; and (vE) the consideration paid received by the Issuer for the Grant grant of the Indenture Trust Estate was reasonably equivalent to the value of the related Grantgrant.

Appears in 2 contracts

Samples: Loan Purchase Agreement (Nelnet Education Loan Funding Inc), Loan Purchase Agreement (Nelnet Inc)

Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture Agreement are in the ordinary course of the Issuer's ’s business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this IndentureAgreement. At the time of each such Grantgrant: (iA) the Issuer granted the Indenture Trust Estate to the Indenture Trustee Secured Party without any intent to hinder, delay, delay or defraud any current or future creditor of the Issuer; (iiB) the Issuer was not insolvent and did not become insolvent as a result of any such Grantgrant; (iiiC) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (ivD) the Issuer did not intend to incur, and did not believe or and should not have reasonably believed, believed that it would incur, debts beyond its ability to pay as they become due; and (vE) the consideration paid received by the Issuer for the Grant grant of the Indenture Trust Estate was reasonably equivalent to the value of the related Grantgrant.

Appears in 2 contracts

Samples: Indenture and Credit Agreement, Indenture and Credit Agreement (Itt Educational Services Inc)

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Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the IssuerCorporation's business and the Issuer Corporation has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such Grantgrant: (i) the Issuer Corporation granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the IssuerCorporation; (ii) the Issuer Corporation was not insolvent and did not become insolvent as a result of any such Grantgrant; (iii) the Issuer Corporation was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (iv) the Issuer Corporation did not intend to incur, and did not believe or should not have reasonably believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid received by the Issuer Corporation for the Grant grant of the Indenture Trust Estate was reasonably equivalent to the value of the related Grantgrant.

Appears in 1 contract

Samples: Guaranty Agreement (Uici)

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