Acceptance of Funds. Borrower’s acceptance of the Loan Proceeds under the Loan Documents will be deemed to constitute a representation and warranty to the Bank that: (a) there has been no material adverse change in Borrower’s financial condition; (b) no Default has occurred; and (c) there is no litigation pending or threatened against Borrower which would adversely affect its financial condition.
Appears in 4 contracts
Samples: Loan Agreement (First Physicians Capital Group, Inc.), Loan Agreement (Tri-Isthmus Group, Inc.), Loan Agreement (Tri-Isthmus Group, Inc.)
