Common use of Financial Statements; No Material Adverse Change Clause in Contracts

Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower and Guarantor which have been or may hereafter be delivered by Borrower or Guarantor to Lender have been prepared in accordance with GAAP (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), and fairly present in all material respects the financial condition and the results of operation of Borrower and Guarantor as at the dates and for the periods set forth therein. Except as disclosed in any financial statements furnished by Borrower or Guarantor to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities and condition, financial or otherwise of Borrower, since the date of the most recent audited financial statements furnished by Borrower or Guarantor to Lender prior to the date of this Agreement.

Appears in 3 contracts

Samples: Loan Agreement (RBX Corp), Loan Agreement (RBX Corp), Loan Agreement (RBX Industries Inc)

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Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower the Guarantors and Guarantor their respective Subsidiaries which have been or may hereafter be delivered by Borrower a Borrower, a Guarantor or Guarantor an Obligor to Lender have been or will have been, when delivered, prepared in accordance with GAAP (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), and fairly present in all material respects the financial condition and the results of operation of Borrower the Persons covered thereby and Guarantor their respective Subsidiaries as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower any Borrower, Guarantor or Guarantor an Obligor to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities liabilities, properties and condition, financial or otherwise otherwise, of any Borrower, Guarantor or Obligor, since the date of the most recent audited financial statements furnished by Borrower such Borrower, Guarantor or Guarantor Obligor to Lender prior to the date of this Agreement.

Appears in 2 contracts

Samples: General Security Agreement (Atlantic Express Transportation Corp), General Security Agreement (Atlantic Express Transportation Corp)

Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to any Borrower and or Guarantor which have been or may hereafter be delivered by any Borrower or Guarantor to Lender have been prepared in accordance with GAAP (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), ) and fairly present in all material respects the financial condition and the results of operation of such Borrower and Guarantor as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower or Guarantor Borrowers and Guarantors to Lender prior to the date of this Agreement, there has been no material adverse change in the assetsact, liabilities and condition, financial condition or otherwise of Borrower, event which has had or is reasonably likely to have a Material Adverse Effect since the date of the most recent audited financial statements of any Borrower or Guarantor furnished by any Borrower or Guarantor to Lender prior to the date of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Little Switzerland Inc/De), Loan and Security Agreement (Ico Inc)

Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower and Guarantor which have been or may hereafter be delivered by Borrower or Guarantor to Lender have been prepared in accordance with GAAP (except as to any interim financial statements other than quarterly financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), ) and fairly present in all material respects the financial condition and the results of operation operations of Borrower and Guarantor Borrower, in all material respects, as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower or Guarantor to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities liabilities, properties and condition, financial or otherwise otherwise, of Borrower, since the date of the most recent audited financial statements furnished by Borrower or Guarantor to Lender prior to the date of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Congoleum Corp), Loan and Security Agreement (American Biltrite Inc)

Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower Borrowers and Guarantor Guarantors which have been or may hereafter be delivered by Borrower Borrowers or Guarantor Guarantors to Lender have been prepared in accordance with GAAP (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), and fairly present in all material respects the financial condition and the results of operation of Borrower Borrowers and Guarantor Guarantors as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower Borrowers or Guarantor Guarantors to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities and condition, financial or otherwise of BorrowerBorrowers and Guarantors, since the date of the most recent audited financial statements furnished by Borrower Borrowers or Guarantor Guarantors to Lender prior to the date of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Safety Components International Inc)

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Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower Borrowers and Guarantor which have been or may hereafter be delivered by Borrower Borrowers or Guarantor to Lender have been prepared in accordance with GAAP (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), and fairly present in all material respects the financial condition and the results of operation of Borrower Borrowers and Guarantor as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower Borrowers or Guarantor to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities liabilities, prospects and condition, financial or otherwise of BorrowerBorrowers, since the date of the most recent audited financial statements furnished by Borrower Borrowers or Guarantor to Lender prior to the date of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Play by Play Toys & Novelties Inc)

Financial Statements; No Material Adverse Change. All financial ------------------------------------------------ statements relating to Borrower and Guarantor which have been or may hereafter be delivered by Borrower or Guarantor to Lender have been prepared in accordance with GAAP and fairly present the financial condition and the results of operation of each of Borrower and Guarantor as at the dates and for the periods set forth therein (except as to any interim financial statements, to the extent such statements are subject to normal year-end adjustments and do not include any notes), and fairly present in all material respects the financial condition and the results of operation of Borrower and Guarantor as at the dates and for the periods set forth therein. Except as disclosed in any interim financial statements furnished by Borrower or and Guarantor to Lender prior to the date of this Agreement, there has been no material adverse change in the assets, liabilities liabilities, prospects and condition, financial or otherwise of Borrower, Borrower or Guarantor since the date of the most recent audited financial statements furnished by Borrower or and Guarantor to Lender prior to the date of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Cerplex Group Inc/De)

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