Insolvent
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,...
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Found in
Omega Flex, Inc. contract
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
Found in
XCel Brands, Inc. contract
Insolvent. The inability of a person to pay their debts as such debts become due in the ordinary course of business.
Found in
Pulse Biosciences, Inc. contract
Insolvent. A Person can no longer meet its financial obligations with its lenders or creditors as its debts become due
Found in
CASTLE A M & CO contract
Insolvent. The present fair saleable value of the Company's assets is less than the amount required to pay the Company's total Indebtedness (as defined below).
Found in
Net Element, Inc. contract
Insolvent. The sum of liabilities of the applicable person exceeds the present fair market value of such person's assets
Found in
1847 Goedeker Inc. contract
Insolvent. Means, with respect to any Person, (i) the present fair saleable value of such Person's assets is less than the amount required to pay such Person's total indebtedness, (ii) such Person is unable to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured, (iii) such Person currently intends to incur or currently believes that it will incur debts that would be beyond its ability to pay as such debts mature or (iv) such...
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