Solvency of Borrower. The Borrower is solvent on the date hereof. For -------------------- the purpose of this Agreement, the term "solvent" shall mean: (a) the fair salable value of the Borrower's property is in excess of the total amount of its debts; (b) the Borrower is able to pay its debts as they mature; and
Appears in 1 contract
Sources: Loan and Security Agreement (New Brunswick Scientific Co Inc)
Solvency of Borrower. The Borrower is solvent on the date hereof. For -------------------- the purpose of this Agreement, the term "solvent" shall mean: (a) the fair salable value of the Borrower's property is in excess of the total amount of its debts; (b) the Borrower is able to pay its debts as they mature; and
Appears in 1 contract
Sources: Loan and Security Agreement (Forward Industries Inc)