Insolvent

Insolvent. Shall mean a financial condition such as to make the sum of a party's debts greater than all of the party's assets, at fair valuation; or, when a party has incurred debts beyond that party's ability to pay such debts as they mature; or, when a party is engaged in a business or transaction for which the party has unreasonably small capital.

Insolvent. Means the present fair saleable value of the Company's assets is less than the amount required to pay the Company's total Indebtedness.

Insolvent. With respect to any person, when any of the following events shall have occurred in respect of such person: death, dissolution, termination of existence, business failure, insolvency, appointment of a receiver for any part of the property of, an assignment for the benefit of creditors by, or a commencement of any proceedings under any bankruptcy or insolvency law or any law relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or ... extension by or against, such person. View More

Insolvent. Shall mean (a) the pendency of any case against Mr. Kemp, whether voluntary or involuntary, arising under the United States Bankruptcy Code of 1978, 11 U.S.C. Sections 101-1330, as amended, or any successor statute; (b) the pendency of any case or proceeding against Mr. Kemp arising under any other applicable bankruptcy, reorganization, compromise, or arrangement with creditors, insolvency, readjustment of debt, or other... similar law of any jurisdiction; (c) the appointment of, or taking possession by, a trustee, receiver, custodian, liquidator or similar official of any substantial assets of Mr. Kemp; (d) any assignment of the assets of Mr. Kemp for the benefit of Mr. Kemp's creditors; (e) the failure of Mr. Kemp generally to pay his debts as such debts become due or the written admission by Mr. Kemp that he can not pay his debts 3 - generally; (f) the commencement of any lawsuit against Mr. Kemp by a person other than Penton, its affiliates or a person claiming by or through Penton or one or more of its affiliates, and for which Mr. Kemp is neither indemnified by Penton nor insured by Penton's liability insurer, and that (i) seeks damages in excess of $100,000 or (ii) alleges violations of any state or federal securities laws; (g) the entry of any judgment against Mr. Kemp in excess of $100,000; or (h) any evidence, including any admission by Mr. Kemp, that Mr. Kemp's liabilities (excluding the Note) exceed his assets (excluding the Pledged Securities) by more than $100,000. View More

Insolvent. Means the inability to pay debts as they mature or being subject to proceedings as a debtor under the United States Bankruptcy Code, and Insolvency means the state of being insolvent.

Insolvent. Small mean (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.

Insolvent. Means (i) the present fair saleable value of the Debtor's assets is less than the amount required to pay the Debtor's total Indebtedness, (ii) the Debtor is unable to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured, (iii) the Debtor intends to incur or believes that it will incur debts that would be beyond its ability to pay as such debts mature or (iv) the Debtor has unreasonably small capital with which to conduct... the business in which it is engaged as such business is now conducted and is proposed to be conducted. View More

Insolvent. When any of the following events shall have occurred whereby the Borrower (a) shall generally not pay within ninety (90) days from when due (excepting, however, bonafide contests related thereto or unless consented to, in writing, by the Bank), or shall be unable to pay, or shall admit in writing its inability to pay its debts as such debts become due; or (b) shall make an assignment for the benefit of creditors, or petition or apply to any tribunal for the appointment of a custodian, receiver,... or trustee for it or a substantial part of its assets; or (c) shall commence any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution, or liquidation law or statute of any jurisdiction, whether now or hereafter in effect; or (d) shall have had any such petition or application filed or any such proceeding commenced against it in which an order for relief is entered or an adjudication or appointment is made, and which remains undismissed for a period of ninety (90) days or more; or (e) shall take any corporate action indicating its consent to, approval of, or acquiescence in any such petition, application, proceeding, or order for relief or the appointment of a custodian, receiver, or trustee for all or any substantial part of its properties; or (f) shall suffer any such custodianship, receivership, or trusteeship to continue undischarged for a period of ninety (90) days or more View More

Insolvent. As to a Person: (a) insolvent or (b) engaged or about to be engaged in a business or a transaction for which any property remaining with the Person is an unreasonably small capital, or (c) intending to incur or believing that the Person will incur debts that would be beyond the Person's ability to pay as such debts mature, all within the meaning under or as defined in each Fraudulent Transfer Law

Insolvent. The inability of a person to pay their debts as such debts become due in the ordinary course of business.