Common use of Financial Statements; Fiscal Year Clause in Contracts

Financial Statements; Fiscal Year. The audited Consolidated and consolidating balance sheets of Neenah and Neenah’s Subsidiaries (including the accounts of all Borrowers and their respective Subsidiaries for the respective periods during which a Subsidiary relationship existed) as of September 30, 2005, and the related statements of income, changes in shareholders’ equity, and changes in financial position for the period ended on such date, have been prepared in accordance with GAAP, and present fairly in all material respects the financial positions of Neenah and Neenah’s Subsidiaries, taken as a whole, at such date and the results of the operations of Neenah and Neenah’s Subsidiaries, taken as a whole, as reflected in the balance sheets as of such date. The unaudited Consolidated and consolidating balance sheets of Neenah and Neenah’s Subsidiaries (including the accounts of all Borrowers and their respective Subsidiaries for the respective periods during which a Subsidiary relationship existed) as of November 30, 2006, and the related statements of income, changes in shareholder’s equity, and changes in financial position for the period ended on such date, have been prepared in accordance with GAAP (except for the absence of footnotes and subject to audit and year-end adjustments), and present fairly in all material respects the financial positions of Neenah and Neenah’s Subsidiaries, taken as a whole, at such date and the results of the operations of Neenah and Neenah’s Subsidiaries, taken as a whole, for such period. Since September 30, 2005, no Material Adverse Effect has occurred, it being understood that changes or events affecting general economic conditions, but not otherwise materially and adversely affecting the business, assets or financial condition of Borrowers’ and Borrowers’ Subsidiaries, shall not be considered a Material Adverse Effect for purposes of the foregoing. As of the date hereof, the fiscal year of Parent and each of its Subsidiaries ends on September 30 of each year.

Financial Statements; Fiscal Year. The audited Consolidated and consolidating balance sheets of Neenah Borrower and Neenah’s Subsidiaries such other Persons described therein (including the accounts of all Borrowers and their respective Subsidiaries of Borrower for the respective periods during which a Subsidiary relationship existed) as of September 30, 20051999, and the related statements of income, changes in shareholders’ stockholder's equity, and changes in financial position for the period periods ended on such datedates, have been prepared in accordance with GAAP, and present fairly in all material respects the financial positions of Neenah Borrower and Neenah’s Subsidiaries, taken as a whole, such Persons at such date dates and the results of the Borrower's operations of Neenah and Neenah’s Subsidiaries, taken as a whole, as reflected in the balance sheets as of such date. The unaudited Consolidated and consolidating balance sheets of Neenah and Neenah’s Subsidiaries (including the accounts of all Borrowers and their respective Subsidiaries for the respective periods during which a Subsidiary relationship existed) as of November 30, 2006, and the related statements of income, changes in shareholder’s equity, and changes in financial position for the period ended on such date, have been prepared in accordance with GAAP (except for the absence of footnotes and subject to audit and year-end adjustments), and present fairly in all material respects the financial positions of Neenah and Neenah’s Subsidiaries, taken as a whole, at such date and the results of the operations of Neenah and Neenah’s Subsidiaries, taken as a whole, for such periodperiods. Since September 30, 20051999, there has been no Material Adverse Effect has occurredmaterial change in the condition, it being understood that financial or otherwise, of Borrower and such other Persons as shown on the Consolidated balance sheet as of such date and no change in the aggregate value of Equipment and real Property owned by Borrower or such other Persons, except changes or events affecting general economic conditions, but not otherwise materially and adversely affecting in the ordinary course of business, assets none of which individually or financial condition of Borrowers’ and Borrowers’ Subsidiaries, shall not be considered a Material Adverse Effect for purposes of in the foregoingaggregate has been materially adverse. As of the date hereof, the The fiscal year of Parent Borrower and each of its Subsidiaries ends on September 30 December 31st of each year. Full Disclosure. The financial statements referred to in subsection 7.1.10 hereof do not, nor does this Agreement or any other written statement of Borrower to Lender, contain any untrue statement of a material fact or omit a material fact necessary to make the statements contained therein or herein not misleading. There is no fact which Borrower has failed to disclose to Lender in writing which materially affects adversely or, so far as Borrower can now foresee, will materially affect adversely the Properties, business, prospects, profits or condition (financial or otherwise) of Borrower or any of its Subsidiaries or the ability of Borrower or its Subsidiaries to perform this Agreement or the other Loan Documents.