Common use of No Material Deterioration in Financial Condition; Financial Statements Clause in Contracts

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotes. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 6 contracts

Samples: Loan and Security Agreement (Poseida Therapeutics, Inc.), Loan and Security Agreement (Poseida Therapeutics, Inc.), Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)

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No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as (in the case of the dates and for the periods presented. Lender understands that unaudited interim financial statements may not be audited and may be statements, subject to normal year-year end audit adjustments and the absence of footnotes; provided, however, the amount of cash and Cash Equivalents held by Borrower shall not be subject to such adjustments). There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 3 contracts

Samples: Loan and Security Agreement (LogicBio Therapeutics, Inc.), Loan and Security Agreement (Centrexion Therapeutics Corp), Loan and Security Agreement (Centrexion Therapeutics Corp)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAPGAAP (subject, in the case of unaudited financial statements, to the absence of footnotes and normal year-end adjustments), in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotesspecified therein. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cytori Therapeutics, Inc.), Loan and Security Agreement (Cytori Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAPGAAP (subject, in the case of unaudited financial statements, to normal year-end non-cash adjustments, consistent with Borrower’s past practices), in all material respects respects, as of the dates and for the time periods presented therein, the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotesSubsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Vera Therapeutics, Inc.), Loan and Security Agreement (Vera Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Borrower, or any of Borrower’s Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Borrower’s Subsidiaries as of the dates and for the periods presented. Lender understands that interim presented (subject, in the case of unaudited financial statements may not be audited and may be subject statements, to normal year-end adjustments and the absence of footnotes). There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries Borrower’s Subsidiaries, since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (SafeStitch Medical, Inc.), Loan and Security Agreement (Transenterix Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries Subsidiaries, as of the dates and for the periods presented. Lender understands that interim presented (subject, in the case of unaudited financial statements may not be audited and may be subject statements, to normal year-end adjustments and the absence of footnotes). There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (CareDx, Inc.), Loan and Security Agreement (CareDx, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects respects, the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries as (subject, in the case of the dates and for the periods presented. Lender understands that interim unaudited financial statements may not be audited and may be subject statements, to normal year-end adjustments and the absence of footnotes). There Except as disclosed to Collateral Agent and the Lenders in writing, there has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Selecta Biosciences Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower the Loan Parties and its their Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower the Loan Parties and its their Subsidiaries, and the consolidated results of operations of Borrower the Loan Parties and its their Subsidiaries as of the dates and for the periods presented. Lender understands that interim presented (except with respect to unaudited financial statements may not be audited and may be statements, subject to normal year-end non- cash adjustments and for the absence of footnotes). There has not been any material deterioration in the consolidated financial condition of Borrower the Loan Parties and its their Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its SubsidiariesSubsidiaries as of the respective dates thereof, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that covered thereby, subject, in the case of such interim financial statements may not be audited statements, to the absence of footnotes and may be subject to normal year-end adjustments and the absence of footnotesaudit adjustments. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (RxSight, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered by Borrower to Collateral Agent fairly present, in conformity with GAAP, present in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations operations, as of and for the dates indicated therein, of Borrower and its Subsidiaries as in accordance with GAAP, subject, in the case of the dates and for the periods presented. Lender understands that interim unaudited financial statements may not be audited and may be subject statements, to normal year-end adjustments and the absence of footnotesfootnote disclosures. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted by Borrower to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Viracta Therapeutics, Inc.)

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No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower the Loan Parties and its their Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower the Loan Parties and its their Subsidiaries, and the consolidated results of operations of Borrower the Loan Parties and its their Subsidiaries as of the dates and for the periods presented. Lender understands that interim presented (except with respect to unaudited financial statements may not be audited and may be statements, subject to normal year-end non-cash adjustments and for the absence of footnotes). There has not been any material deterioration in the consolidated financial condition of Borrower the Loan Parties and its their Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Iterum Therapeutics PLC)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAPGAAP (subject, in the case of unaudited financial statements, to normal year-end non-cash adjustments, consistent with Borrower’s past practices), in all material respects respects, as of the dates and for the time periods presented therein, the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotesSubsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries Subsidiaries, on a consolidated basis, since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Kezar Life Sciences, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries (subject to normal year-end adjustments to reflect the non-cash impact of accounting for stock compensation or other non-cash equity items and the absence of footnotes) as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotes. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Mersana Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAPGAAP (subject, in the case of unaudited financial statements, to normal year-end adjustments and quarter-end adjustments to reflect actual expenses incurred, consistent with Borrower’s past practices), in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to normal year-end adjustments and the absence of footnotesSubsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Millendo Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries as of the dates and for the periods presented. Lender understands that interim presented (except with respect to unaudited financial statements may not be audited and may be statements, subject to normal year-end adjustments and for the absence of footnotes). There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (NanoString Technologies Inc)

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