Common use of Future Financial Statements Clause in Contracts

Future Financial Statements. the financial statements delivered to the Administrative Agent for distribution to the Lenders pursuant to Section 11.1.7 shall be complete and correct and present fairly, in accordance with GAAP (except for changes therein or departures therefrom that are described in the certificate or report accompanying such statements and that have been approved in writing by QPI's then current independent certified public accountants), the Consolidated financial position of QPI as at their respective dates and the Consolidated results of operations, retained earnings and cash flows of QPI, for the respective periods to which such statements relate, and the furnishing of the same to the Lenders shall constitute a representation and warranty by QPI made on the date the same are furnished to the Lenders to that effect and to the further effect that, except as disclosed or reflected in such financial statements, as at the respective dates thereof, neither QPI nor any of the Restricted Entities had any liability, contingent or otherwise, or any unrealized or anticipated loss, that, singly or in the aggregate, could reasonably be expected to have a Materially Adverse Effect on QPI and the Restricted Entities taken as a whole;