Contract analysis
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Contract analysis / solvency-certificate.docx
solvency-certificate.docx
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Section 3(a): Balance Sheet Solvency — Fair Value Exceeds Total Liabilities
Section 3(a): Balance Sheet Solvency — Fair Value Exceeds Total Liabilities As of the Closing Date, after giving pro forma effect to the Transactions, the Fair Value of the assets of the Borrower and its subsidiaries, taken as a whole on a consolidated basis, exceeds the Total Liabilities (including subordinated, contingent, matured, unmatured, liquidated, and unliquidated liabilities) of the Borrower and its subsidi
Section 3(b): Fair Saleable Value Exceeds Stated Liabilities
Standard
⚑ Commercial term
Section 3(b): Fair Saleable Value Exceeds Stated Liabilities As of the Closing Date, after giving pro forma effect to the Transactions, the Fair Saleable Value of the assets of the Borrower and its subsidiaries, taken as a whole on a consolidated basis, is greater than the total amount of the Stated Liabilities of the Borrower and its subsidiaries, taken as a whole on a consolidated basis. The Borrower's operating bu
Section 3(c): Adequate Capital — Not Unreasonably Small Capital
Section 3(c): Adequate Capital — Not Unreasonably Small Capital As of the Closing Date, after giving pro forma effect to the Transactions, the Borrower and its subsidiaries, taken as a whole on a consolidated basis, have sufficient capital to carry on their businesses and all businesses in which they are about to engage, and do not have unreasonably small capital with which to conduct the businesses in which they are
Section 3(d): Ability to Pay Debts as They Become Due
Standard
⚑ Commercial term
Section 3(d): Ability to Pay Debts as They Become Due As of the Closing Date, after giving pro forma effect to the Transactions, the Borrower and its subsidiaries, taken as a whole on a consolidated basis, are able to pay their debts and other liabilities (including trade payables, contractual obligations, and contingent obligations) as they become due in the ordinary course of business. In reaching this conclusion,
Section 3(e): No Intent to Hinder, Delay, or Defraud Creditors
Standard
⚑ Commercial term
Section 3(e): No Intent to Hinder, Delay, or Defraud Creditors The Borrower has not incurred and does not intend to incur debts beyond its ability to pay as such debts mature. The Borrower has not entered into the Transactions, and is not entering into the Transactions, with the actual intent to hinder, delay, or defraud any person to which the Borrower or any of its subsidiaries is, or may become, indebted. The incu