Purchaser’s Financial Condition. No attachment, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization, or other proceedings are pending against Purchaser.
Purchaser’s Financial Condition. No petition has been filed by or against Purchaser under the Federal Bankruptcy Code or any similar state or federal Law, whether now or hereafter existing; and
Purchaser’s Financial Condition. This Agreement will terminate automatically on the date of liquidation or cessation of business, insolvency, or voluntary or involuntary petition in bankruptcy of Purchaser.
Purchaser’s Financial Condition. As of the Closing, Purchaser will have cash and working capital available to Purchaser that will be sufficient to enable Purchaser to pay the Purchase Price and any other amounts required hereunder and to consummate the transaction contemplated hereby. Purchaser acknowledges that its obligations to consummate this Agreement and the transaction contemplated hereby are not subject to any financing contingency. SECTION V
Purchaser’s Financial Condition. Purchaser represents that Purchaser is financially capable of making, when due, all of the required payments set forth in Articles III and IV. Purchaser further represents that the personal financial data to be submitted in connection with this Agreement to Seller or any prospective mortgagee shall be true and accurate. Xxxxxxxxx agrees to give written notice to Seller immediately after any material change occurs in Purchaser's financial condition prior to the closing. Purchaser's failure to notify Seller to the contrary shall constitute a representation by Purchaser that Purchaser's financial data has not materially changed before closing. Seller shall have the right to cancel this Agreement and hold Purchaser in default under this Agreement if any material discrepancies are discovered between the financial information furnished and the Purchaser's actual financial status. Purchaser agrees that by executing this Agreement, Seller (with respect to a cash purchaser) or a proposed mortgagee is authorized to make credit inquiries about the Purchaser insofar as Seller or the mortgagee deems necessary or appropriate to verify Purchaser's financial condition and capability to consummate this Agreement, and Purchaser further agrees that at Seller's request Purchaser shall confirm such authority promptly and in writing.
Purchaser’s Financial Condition. Purchaser represents that Purchaser is financially capable of making, when due, all of the required payments set forth in this Agreement. Purchaser further represents that the personal financial data (if any) submitted in connection with this Agreement to Seller, Seller’s Lender, or any prospective mortgagee shall be true, complete and accurate. Purchaser agrees to give written notice to Seller immediately of any material change in Purchaser's financial condition prior to Closing. Purchaser's failure to notify Seller to the contrary shall constitute a representation by Purchaser that Purchaser's financial data and condition have not materially changed before Closing. Seller shall have the right to hold Purchaser in default under this Agreement and exercise Seller’s rights in accordance with the terms and conditions set forth in Article XV if any material discrepancies are discovered between any financial information furnished and Purchaser's actual financial status. PURCHASER ACKNOWLEDGES THAT SELLER’S LENDER (AS DEFINED IN SECITON 9.1), AS A MATERIAL CONDITION UNDER ITS CONSTRUCTION CREDIT FACILITY IN ORDER TO DRAW DOWN FUNDS TO CONSTRUCT ALL OR PORTIONS OF THE PROJECT, MAY REQUIRE FINANCIAL-RELATED INFORMATION TO BE SUBMITTED BY PURCHASER, INCLUDING, BUT NOT LIMITED TO, FINANCIAL STATEMENTS, A SIGNED LOAN APPLICATION, CREDIT REPORT, BANK STATEMENTS, PAY STUBS, W-2 FORMS, TAX RETURNS AND OTHER INFORMATION, AND THE PURCHASER, BY PLACING PURCHASER’S INITIALS IN THE SPACE PROVIDED BELOW, HEREBY AGREES TO PROVIDE SUCH INFORMATION TO SELLER AND AUTHORIZES AND CONSENTS TO THE DISCLOSURE OF SUCH INFORMATION TO SELLER’S LENDER BY SELLER OR PURCHASER’S PROPOSED LENDER. PURCHASER’S INITIALS (b) Funds for Purchase. THIS SALE IS NOT CONTINGENT UPON PURCHASER QUALIFYING FOR AND/OR OBTAINING A LOAN TO PURCHASE THE PROPERTY. Any and all costs, risks, and requirements associated with obtaining any such loan shall be Purchaser’s responsibility. If Purchaser wishes to finance the purchase of the Property, Purchaser shall, within ten (10) business days from the Reference Date of this Agreement, apply to one or more lending institutions for such loan (a “Mortgage Loan”) and Purchaser agrees to perform all of the following acts (herein called the "Mortgage Loan Acts"): to use Purchaser’s best efforts to obtain the Mortgage Loan in good faith; to execute and deliver all necessary documents and disclose all information as required to obtain the Mortgage Loan; to pay any and all...
Purchaser’s Financial Condition. (a) The Purchaser has delivered to the Sellers a true and correct copy of the following: the audited balance sheet of the Purchaser as of December 31, 1995 and the unaudited statements of income, statements of retained earnings, and statements of cash flows of the Purchaser for the years ended December 31, 1995. The Purchaser has also delivered to Sellers true and correct copies of the interim unaudited balance sheet (the "Purchaser's Last Balance Sheet") of the Purchaser as of June 30, 1996 (the "Purchaser's Last Balance Sheet Date") and the interim unaudited statement of income, statement of retained earnings, and statement of cash flows for the six month period ended June 30, 1996. Each such balance sheet presents fairly the financial condition, assets, liabilities, and stockholders' equity of the Purchaser as of its date; each such statement of income and statement of retained earnings presents fairly the results of operations of the Purchaser for the period indicated and its retained earnings as of the date indicated; and each such statement of cash flows presents fairly the information purported to be shown therein. The financial statements referred to in this Section 4.5 have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved and are in accordance with the books and records of the Company.
Purchaser’s Financial Condition. From the date hereof until the date of Closing, there shall have been no material adverse change in Purchaser's balance sheet attached as SCHEDULE 8.05.
Purchaser’s Financial Condition. As of the Closing Date, Purchaser shall have available sufficient funds with which to pay the Purchase Price and the other costs relating to the transaction, and the financing of such amount is not a condition precedent to Purchaser’s obligations hereunder. To Purchaser’s Knowledge, there is no contingency, event or expectation specifically relating to Purchaser that would cause Purchaser to be financially unable to complete the purchase on the Closing Date.
Purchaser’s Financial Condition. As of the Closing Date and immediately after consummating the Transactions contemplated by this Agreement, Purchaser will not (i) be insolvent (either because its financial condition is such that the sum of its debts is greater than the fair value of its assets or because the fair value of its assets will be less than the amount required to pay its probable liabilities as they become due and payable), (ii) have unreasonably small capital with which to engage in its business, or (iii) have incurred or planned to incur debts beyond its ability to repay such debts as they mature.
