Solvent Financial Condition Sample Clauses
The Solvent Financial Condition clause defines the requirement that a party to an agreement must be financially stable and able to meet its debts as they become due. In practice, this clause often requires a party to represent and warrant that it is not insolvent, bankrupt, or subject to any proceedings that could affect its financial standing at the time of entering into the contract. This ensures that all parties are dealing with financially reliable counterparts, thereby reducing the risk of default and providing assurance that contractual obligations can be fulfilled.
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Solvent Financial Condition. Borrowers and their Subsidiaries together, on a consolidated basis, are now Solvent and, after giving effect to the Loans to be made hereunder, the Letters of Credit to be issued in connection herewith and the consummation of the other transactions described in the Credit Documents, will be Solvent.
Solvent Financial Condition. Borrower is Solvent.
Solvent Financial Condition. Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.
Solvent Financial Condition. Immediately prior to each Advance, the present aggregate fair salable value of the respective assets of Borrowers (and, for the avoidance of doubt, excluding any Special Purpose Subsidiary) and any Guarantors are greater than the amount required to pay their respective liabilities, and each is able to pay its debts as they mature.
Solvent Financial Condition. Each Loan Party is Solvent.
Solvent Financial Condition. Each Borrower and each of its Subsidiaries is now and, after giving effect to the initial Loans to be made and the initial Letters of Credit and LC Guaranties to be issued hereunder, and related transactions, will be Solvent.
Solvent Financial Condition. Each Borrower and --------------------------- each of its Subsidiaries is, as of the date hereof, and, after giving effect to the initial Loans to be made and the initial Letters of Credit and LC Guaranties to be issued hereunder and all related transactions (including the making of the Tranche B Loans), will be, Solvent.
Solvent Financial Condition. Borrower and Guarantor are each Solvent, as defined in Section 1.59 hereof.
Solvent Financial Condition. On the First Amendment Effective Date, and immediately prior to and after giving effect to each borrowing under this Agreement and the use of the proceeds thereof, with respect to Holdings, individually, and the Loan Parties taken as a whole, (a) the fair value of its or their assets is greater than the amount of its or their liabilities (including disputed, contingent and unliquidated liabilities) as that value is established and liabilities evaluated in accordance with GAAP; (b) the present fair saleable value of its or their assets is not less than the amount that will be required to pay the probable liability on its or their debts as they become absolute and matured; (c) it is, and they are, able to realize upon its or their assets and pay its or their debts and other liabilities (including disputed, contingent and unliquidated liabilities) as they mature in the normal course of business; (d) it does not, and they do not, intend to, and it does not, and they do not, believe that it or they will, incur debts or liabilities beyond its or their ability to pay as those debts and liabilities mature; and (e) it is not, and they are not, engaged in or about to engage in business or a transaction for which its or their property would constitute unreasonably small capital.
Solvent Financial Condition. After giving effect to the initial Loans to be made and the initial Letters of Credit and LC Guaranties to be issued hereunder, and the consummation of the other transactions contemplated hereby, each of Wabash, each other Borrower and each of their respective Subsidiaries will be Solvent.