Common use of Solvency; No Default Clause in Contracts

Solvency; No Default. As of this date the Company has sufficient funds and cash flow to pay its debts and other liabilities as they become due, and the Company is not in default with respect to any material debt or liability.

Appears in 3 contracts

Sources: Common Stock and Warrant Purchase Agreement (Connetics Corp), Common Stock Purchase Agreement (Connetics Corp), Common Stock Purchase Agreement (Connetics Corp)

Solvency; No Default. As of this date the Company has and its subsidiary have sufficient funds and cash flow to pay its their debts and other liabilities as they become due, and neither the Company nor its subsidiary is not in default with respect to any material debt or liability.

Appears in 2 contracts

Sources: Series B Convertible Preferred Stock Purchase Agreement (Donaldson Lufkin & Jenrette Inc /Ny/), Series B Convertible Preferred Stock Purchase Agreement (Keravision Inc /Ca/)

Solvency; No Default. As of this date the The Company has sufficient funds and cash flow -------------------- to pay its debts and other liabilities as they become due, and the Company is not in default with respect to any material debt or liability.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Cell Therapeutics Inc), Securities Purchase Agreement (Cell Therapeutics Inc)

Solvency; No Default. As of this date the The Company has sufficient funds and cash flow to pay its debts and other liabilities as they become due, and the Company is not in default with respect to any material debt or liability.

Appears in 2 contracts

Sources: Equity Line of Credit and Securities Purchase Agreement (Corixa Corp), Equity Line of Credit and Securities Purchase Agreement (Corixa Corp)