Indebtedness and Security Sample Clauses

Indebtedness and Security. No Group Company has any Indebtedness nor any secured creditors holding fixed or floating security interests, other than (x) Indebtedness receivable or payable solely between or among the Company’s wholly-owned Subsidiaries (including, for the purposes of this Section 3.14, the Operating Subsidiaries) or between or among the Company and any of its wholly-owned Subsidiaries (including, for the purposes of this Section 3.14, the Operating Subsidiaries) and (y) accounts receivable and payable incurred in the ordinary course of business consistent with past practice. No Group Company has taken any steps to seek protection pursuant to any bankruptcy law, nor does the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings or any knowledge of any fact which would reasonably lead a creditor to do so. The Group Companies on a consolidated basis are not Insolvent.

Indebtedness and Security. The Directors may exercise all the powers of the Company to incur indebtedness, liabilities or obligations and to issue debentures, debenture stock, mortgages, bonds and other such securities and to secure indebtedness, liabilities or obligations whether of the Company or of any third party.

Indebtedness and Security. No Group Company has any secured creditors holding fixed or floating security interests. No Group Company has taken any steps to seek protection pursuant to any bankruptcy law, nor does the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings or any knowledge of any fact which would reasonably lead a creditor to do so.

Indebtedness and Security. No Group Company has any Indebtedness nor any secured creditors holding fixed or floating security interests. No Group Company has taken any steps to seek protection pursuant to any bankruptcy law, nor does the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings or any knowledge of any fact which would reasonably lead a creditor to do so. On the date hereof, and on the Closing Date after giving effect to (a) the Transactions contemplated by this Agreement, (b) payment of all amounts required to be paid in connection with the consummation of the transactions contemplated hereby and (c) payment of all related fees and expenses, none of the Group Companies is Insolvent.

Indebtedness and Security. None of the Company or any of its Subsidiaries has any secured creditors holding fixed or floating security interests. None of the Company or any of its Subsidiaries has sought any protection pursuant to any bankruptcy or insolvency Law, nor does the Company have any knowledge that any creditors of the Company or any of its Subsidiaries intend to initiate involuntary bankruptcy or insolvency proceedings.

Indebtedness and Security. (a) Except as set forth in Section 3.14(b), neither the Company nor any of its Subsidiaries has any secured creditors holding fixed or floating security interests. (b) Indebtedness for Borrowed Money incurred by the Company pursuant to the SBLC Agreement is not secured or supported directly or indirectly by any guarantee or Lien (other than (i) the New SBLCs, and (ii) the SBLC Cash Pledge made by the SBLC Onshore Subsidiary supporting the New SBLCs pursuant to the SBLC Agreement) and none of China Bohai Bank Guangzhou Branch, The Export-Import Bank of China Guangdong Branch or any other person that may have confirmed or endorsed any New SBLC is entitled pursuant to the terms of the SBLC Documents to have the benefit of any guarantee or Lien other than the SBLC Cash Pledge. The aggregate principal amount of Indebtedness for Borrowed Money incurred pursuant to the SBLC Documents does not exceed US$200,000,000, the aggregate amount of the New SBLCs does not exceed RMB1,600,000,000, and the amount of cash pledged pursuant to the SBLC Cash Pledge does not exceed RMB1,600,000,000.

Indebtedness and Security. (i) Except as disclosed in Schedule 3.2(ii) of the Disclosure Letter, the Acquired Companies do not have Indebtedness, other than Indebtedness Not Payable at Closing and the overdraft position in the current accounts of the Acquired Companies resulting from conduct of the Business in the Ordinary Course. (ii) Except for Permitted Liens, no Person has been granted a security interest or other Lien on any of the assets of the Acquired Companies. (iii) Except for Permitted Liens, immediately following the Closing, there will not be outstanding any loan, guarantee or pledge given by any Acquired Company for the benefit of any other Person.

Indebtedness and Security. (a) The Company does not have outstanding any bonds, debentures, trust indentures, mortgages, notes, loan agreements or other indebtedness for borrowed money, other than the overdraft position in the current accounts of the Company resulting from conduct of the Business in the ordinary course, and any Contract for a leasing transaction of a type required to be capitalized in accordance with GAAP. Except for Permitted Encumbrances and pursuant to the Financing Documents, no Person has been granted a security interest or other Encumbrance on any of the assets of the Company. (b) Immediately following the Closing, there will not be outstanding any loan, guarantee, pledge or other forms of financial assistance given by the Company for the benefit of any other Person.

Indebtedness and Security. Except as set forth in Section 3.10 of the Company Disclosure Letter, (a) neither the Company nor any of its subsidiaries has any secured creditors holding fixed or floating security interests with respect to any securities or assets of the Company or any of its subsidiaries, and (b) neither the Company nor any of its subsidiaries has any outstanding unsecured financial indebtedness.