BFC Financials definition

BFC Financials means (a) the audited consolidated financial statements of BFC as of December 31, 2005 and 2004 and for each of the two years in the period ended December 31, 2005, including the notes thereto, and (b) the unaudited interim consolidated financial statements of BFC for each calendar quarter after December 31, 2005.

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Examples of BFC Financials in a sentence

• To the Knowledge of BFC, all loans reflected as assets in the BFC Financials are evidenced by notes, agreements or other evidences of indebtedness which are true, genuine and correct, and to the extent secured, are secured by valid liens and security interests which have been perfected, excluding loans as to which the failure to satisfy the foregoing standards would not have a Material Adverse Effect.

• The allowance for loan losses shown, and to be shown, on the balance sheets contained in the BFC Financials have been, and will be, established in accordance with GAAP and all applicable regulatory criteria.

• The filed BFC Financials fairly present, in all material respects, the consolidated financial position, results of operations and cash flows of BFC as of and for the periods ended on the dates thereof, in accordance with GAAP consistently applied, except in each case as may be noted therein, and subject to normal year-end adjustments and as permitted by Form 10-QSB in the case of unaudited statements.