Net Worth Representations/Covenants Sample Clauses

Net Worth Representations/Covenants. Lessee represents and warrants that as of the date hereof, it has a Consolidated Net Worth of at least One Million Dollars ($1,000,000) and that such Consolidated Net Worth includes sufficient working capital for the efficient operation of the Leased Property. The parties agree that such Consolidated Net Worth may include that certain One Million Dollar ($1,000,000) Promissory Note, dated as of December 31, 1997, from Boykxx Xxxagement Company Limited Liability Company to Lessee. Lessee shall retain no less than fifty percent (50%) of Lessee's cumulative After Tax Earnings until Lessee's Consolidated Net Worth is at least equal to Four Million Dollars ($4,000,000). Lessee, either itself or together with its subsidiaries, shall thereafter retain at least such portion of Lessee's After Tax Earnings as is necessary to cause its Consolidated Net Worth to remain at least equal to Four Million Dollars ($4,000,000). Lessee represents and warrants that its sole business purpose shall be to operate as the lessee of the Leased Property.
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Related to Net Worth Representations/Covenants

  • General Representations, Covenants and Warranties To induce each Revolving Credit Lender to establish the credit facility contemplated herein and to induce the Revolving Credit Lenders to provide loans and advances under the Revolving Credit (each of which loans shall be deemed to have been made in reliance thereupon) the Borrowers, in addition to all other representations, warranties, and covenants made by any Borrower in any other Loan Document, make those representations, warranties, and covenants included in this Agreement.

  • REPRESENTATIONS, COVENANTS AND WARRANTIES The Company represents, covenants and warrants as follows:

  • REPRESENTATIONS, COVENANTS, AND WARRANTIES OF THE COMPANY The Company represents, covenants and warrants that:

  • Further Representations, Warrants and Covenants Buyer hereby represents warrants, covenants and agrees as follows:

  • Certain Representations and Warranties; Limitations; Covenants By executing and delivering an Assignment and Acceptance, the parties to the assignment thereunder confirm to and agree with each other and the other parties hereto as follows:

  • WARRANTIES, REPRESENTATIONS AND COVENANTS Mortgagor warrants, represents and covenants to Mortgagee as follows:

  • Representations and Covenants The representations and warranties of the Shareholders and the Company contained in this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. The Shareholders and the Company shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by the Shareholders and the Company on or prior to the Closing Date. The Company shall have delivered to the Parent, if requested, a certificate, dated the Closing Date, to the foregoing effect.

  • REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER 4.1 To induce Purchaser to enter into this Agreement, Seller hereby makes for the benefit of Purchaser and its assigns with respect to each Mortgage Loan as of the date hereof (or as of such other date specifically set forth in the particular representation and warranty) each of the representations and warranties set forth on Exhibit 2 hereto, except as otherwise set forth on Schedule 2-A attached to such Exhibit 2. In addition, Seller hereby further represents, warrants and covenants to Purchaser as of the date hereof as follows:

  • Representations, Warranties and Covenants of Sellers Sellers hereby represent, warrant, and covenant to Buyer as follows:

  • Seller’s Representations, Warranties and Covenants Seller hereby represents, warrants and covenants to Buyer as follows:

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