Financially Solvent definition

Financially Solvent means the entity is able to pay its debts when due.
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Financially Solvent means an employer’s current and continuing ability to pay, as they become due, all existing and future obligations, including workers’ compensation benefits to which it is or becomes obligated under the Act.
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Financially Solvent means a self-insured’s continuing ability to pay all existing and future claims to which it is or may become obligated by operation of its motor vehicles on the highways of New Mexico, and that there are no circumstances clearly indicating to the superintendent that there is an imminent danger that the self-insured will likely become insolvent.
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Examples of Financially Solvent in a sentence

  • As may be applicable, the Contractor represents and warrants that the following shall be true and correct as of the date of the Agreement and shall continue to be true and correct (as may be modified from time to time subject to PRDE’s approval) during the Term of the Agreement: Financially Solvent.

Related to Financially Solvent

  • Financially Literate means the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Corporation’s financial statements.

  • Financially Evaluated Entity means the company which has been evaluated for the satisfaction of the financial requirement set forth in Clause 2.1.3 hereof;

  • Financially impaired means a carrier which, after the effective

  • Solvent and “Solvency” mean, with respect to any Person on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

  • Organic solvent means any VOC which is used alone or in combination with other agents, and without undergoing a chemical change, to dissolve raw material, products or waste materials, or is used as a cleaning agent to dissolve contaminants, or as a dissolver, or as a dispersion medium, or as a viscosity adjuster, or as a surface tension adjuster, or a plasticizer, or as a preservative;