Notes Payable; Liabilities Clause Samples
The 'Notes Payable; Liabilities' clause defines how a party's outstanding debts and financial obligations, particularly those evidenced by promissory notes or similar instruments, are treated under the agreement. It typically outlines which liabilities must be disclosed, how they are calculated, and may specify whether certain debts are included or excluded from financial covenants or representations. This clause ensures transparency regarding the party's financial position and helps allocate risk by clarifying which obligations are recognized for contractual purposes.
Notes Payable; Liabilities. CMAIM has not suffered or incurred any material direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, including without limitation, liabilities on account of taxes, other governmental charges or legal proceedings, nor does CMAIM have any liabilities or obligations of any nature, whether or not accrued, absolute, contingent or otherwise, that would be required by GAAP to be reflected on a balance sheet of CMAIM (or in the notes thereto) (the “CMAIM Liabilities”) other than (a) as set forth in the CMAIM Financial Statements, or (b) previously discharged CMAIM Liabilities.
Notes Payable; Liabilities. Metamining has previously delivered to Linkwell copies of notes payable in the aggregate amount of $11,250,000 (the “Notes”) to the payees and in the amounts set forth on Schedule 3.11 hereto. Metamining has not suffered or incurred any material direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, including without limitation, liabilities on account of taxes, other governmental charges or legal proceedings, nor does Metamining have any liabilities or obligations of any nature, whether or not accrued, absolute, contingent or otherwise, that would be required by GAAP to be reflected on a balance sheet of Metamining (or in the notes thereto). (the “Metamining Liabilities”) other than (a) as set forth in the Metamining Financial Statements, or (b) previously discharged Metamining Liabilities.
Notes Payable; Liabilities. EM has previously delivered to CDII copies of notes payable in the aggregate amount of $_______0_______ (the “Notes”) to the payees and in the amounts set forth on Schedule 3.11 hereto. EM has not suffered or incurred any material direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, including without limitation, liabilities on account of taxes, other governmental charges or legal proceedings, nor does EM have any liabilities or obligations of any nature, whether or not accrued, absolute, contingent or otherwise, that would be required by GAAP to be reflected on a balance sheet of EM (or in the notes thereto). (the “EM Liabilities”) other than (a) as set forth in the EM Financial Statements, or (b) previously discharged EM Liabilities.
Notes Payable; Liabilities. Draco Resources has previously delivered to AMCO copies of notes payable in the aggregate amount of $_______0_______ (the “Notes”) to the payees and in the amounts set forth on Schedule 3.11 hereto. Draco Resources has not suffered or incurred any material direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, including without limitation, liabilities on account of taxes, other governmental charges or legal proceedings, nor does Draco Resources have any liabilities or obligations of any nature, whether or not accrued, absolute, contingent or otherwise, that would be required by GAAP to be reflected on a balance sheet of Draco Resources (or in the notes thereto). (the “Draco Resources Liabilities”) other than (a) as set forth in the Draco Resources Financial Statements, or (b) previously discharged Draco Resources Liabilities.