Financial Statements and Financial Condition. All financial statements of the Borrower (including all related notes) and all supplementary financial information delivered to the Department fairly present what they purport to present as of the dates and for the respective fiscal periods presented, and were prepared in accordance with generally accepted accounting principles consistently applied, except as disclosed in such financial statements. The Borrower has no material liabilities, direct or indirect, fixed or contingent, as of the date of such financial statements which are not reflected therein. There has been no material adverse change in the financial condition of the Borrower from that disclosed in the most recent annual financial statements delivered to the Department prior to the initial approval of the Loan by the Department.
Financial Statements and Financial Condition. The Initial Financial Statements of Borrower and Guarantor were prepared in accordance with Applicable Accounting Standards (but, in the case of Unaudited Financial Statements, only to the extent Applicable Accounting Standards are applicable to interim unaudited reports) consistently applied with that of the preceding Fiscal Year of such Person (except as noted therein), and fairly present the financial condition of such Person as at such date and the results of their respective operations for the period then ended, subject in the case of the Unaudited Financial Statements to changes resulting from audit and normal year-end adjustments and to the absence of complete footnotes. Since the date of the Initial Financial Statements, no events have occurred which, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect on the financial condition of Borrower or Guarantor as disclosed in the Initial Financial Statement of such Person. Each such Person has sufficient capital to carry on its business and transactions as now conducted and as planned to be conducted in the future.
Financial Statements and Financial Condition. Attached as -------------------------------------------- Section 2.1(g) of the Disclosure Schedule are the following financial statements:
Financial Statements and Financial Condition. All financial statements of the Industrial Occupant (including all related notes) and all supplementary financial information delivered to PIDA fairly present what they purport to present as of the dates and for the respective fiscal periods presented, and were prepared in accordance with generally accepted accounting principles consistently applied, except as disclosed in such financial statements. The Industrial Occupant has no material liabilities, direct or indirect, fixed or contingent, as of the date of such financial statements which are not reflected therein. There has been no material adverse change in the financial condition of the Industrial Occupant from that disclosed in the most recent annual financial statements delivered to PIDA prior to the initial approval of the Loan by the PIDA Board.
Financial Statements and Financial Condition. The Company has delivered to Purchaser the Audited Financial Statements. All such Audited Financial Statements were prepared from the Company's books and records in all material respects in accordance with GAAP, consistently applied, and present fairly the financial position, results of operations and cash flows of the Company at the dates and for the periods indicated and comply in all material respects with Regulation S-X. The books of account of the Company accurately reflect in all material respects all items of income and expense (including, but not limited to, accruals) and all assets and liabilities of the Company in accordance with normal accrual accounting practices, subject to customary year-end adjustments of a normal, recurring type which would not be material in the aggregate. There exist no Liabilities of the Company, whether the same are direct or indirect, whether arising under an agreement or contract or otherwise, except (i) to the extent provided for or reserved against on the 2005 Balance Sheet, (ii) current Liabilities which have arisen in the ordinary course of business consistent with past practice since the 2005 Balance Sheet, or (iii) Liabilities occurring in the ordinary course of business not required to be reflected on the 2005 Balance Sheet under GAAP.
Financial Statements and Financial Condition. Seller has delivered to Buyer its summary of unaudited revenues and materials costs for the Acquired Business for the periods 2003, 2004 and 2005 (the "Financial Information"). The Financial Information is correct, complete and accurate in all material respects. Seller agrees to cooperate with Buyer after the Closing in providing such information as Seller may have and as Buyer may reasonably request to assist the Buyer in filing any necessary SEC form 8-K, or other governmental compliance or reporting requirements.
Financial Statements and Financial Condition. The financial statements of Obligors fairly present the respective financial conditions and results of operations of Borrower and Guarantor as of the date or dates thereof and for the periods covered thereby. There were no material liabilities, direct or indirect, fixed or contingent, of Borrower or Guarantor as of the dates of such financial statements which were not reflected therein or in the notes thereto, which have not otherwise been disclosed to Lender in writing or otherwise set forth in Guarantor's SEC filings. Except for any such changes heretofore expressly disclosed in writing to Lender, there has been no material adverse change in the respective financial conditions of Borrower or Guarantor from the financial conditions shown in their respective financial statements, nor has Borrower or Guarantor incurred any material liabilities, direct or indirect, fixed or contingent, which are not shown in their respective financial statements or reflected in the notes thereto. Borrower is able to pay all of its debts as they become due. Borrower shall maintain such solvent financial condition, giving effect to the Obligations, as long as Borrower is obligated to Lender under this Agreement, or in any other manner whatsoever. Borrower's obligations under this Agreement and under the Loan Documents will not render Borrower unable to pay its debts as they become due. The present fair market value of Borrower's assets is greater than the amount required to pay its respective total liabilities.
Financial Statements and Financial Condition. The Company has maintained its books of account in accordance with applicable laws, rules and regulations and with generally accepted accounting principles ("GAAP") consistently applied, and such books and records are, and during the periods covered by the Financial Statements (as hereinafter defined) were, correct and complete in all material respects, fairly and accurately reflect or reflected the Company's income, expenses, assets and liabilities, including the nature thereof and the transactions giving rise thereto, and provided a fair and accurate basis for the preparation of the Financial Statements. Attached as SCHEDULE 2.2(i) hereto are the following financial statements: the unaudited (x) balance sheets of the Company as of December 31, 1999 and November 30, 2000 (the November 30, 2000 Balance Sheet being hereinafter referred to as the "NOVEMBER BALANCE SHEET"), and (y) income statements of the Company for the fiscal year ended December 31, 1999 and the period January 1 to November 30, 2000 (collectively, the "FINANCIAL STATEMENTS"). The Financial Statements have been prepared in conformity with GAAP consistently applied, and present fairly the consolidated financial position of the Company as of the dates of such statements and the results of operations for the periods covered by such statements. As of the date hereof, the Company does not have any liabilities other than:
Financial Statements and Financial Condition. Each of the financial statements (the "Financial Statements") included in the reports (the "Reports") filed with the Securities and Exchange Commission ("SEC") has been prepared from, and is in accordance with, the books and records of NNCO, complies with all material respects with applicable accounting requirements and with the published rules and regulations of the SEC with respect thereto, has been prepared in accordance with U.S. generally accepted accounting principles applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly presents in all material respects the consolidated results of operations and cash flows (and changes in financial position, if any) of NNCO, as at the date(s) thereof or for the period(s) presented therein.
Financial Statements and Financial Condition. All financial statements of the Borrower (including all related notes) and all supplementary financial information of the Borrower delivered to the Department fairly present what they purport to present as of the dates and for the respective fiscal periods presented, and in the case of any audited financial statements of the Borrower, were prepared in accordance with generally accepted accounting principles consistently applied, except as disclosed in such financial statements. The Borrower has no material liabilities, direct or indirect, fixed or contingent, as of the date of such financial statements which are not reflected therein. There has been no material adverse change in the financial condition of the Borrower from that disclosed in the most recent annual financial statements delivered to the Department prior to the initial approval of the Loan by the Department.
