Common use of Accountant’s Statement Clause in Contracts

Accountant’s Statement. Concurrently with the delivery of the financial statements referred to in Section 7.1(b), if Xxxxx Xxxxxxxx LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”), shall have obtained from the regular audit of the business of the Company, knowledge of the existence of an Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in the event the Auditors no longer produce such opinions under applicable accounting or auditing standards); and

Appears in 2 contracts

Samples: Security Agreement (Texas Petrochemicals Inc.), Term Loan Agreement (Texas Petrochemicals Inc.)

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Accountant’s Statement. Concurrently with the delivery of the financial statements referred to in Section 7.1(b7.1(c), if Xxxxx Gxxxx Xxxxxxxx LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”), ) shall have obtained from the regular audit of the business of the Company, knowledge of the existence of an any Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in the event the Auditors no longer produce provide such opinions under applicable accounting or auditing standards); and;

Appears in 2 contracts

Samples: Revolving Credit Agreement (Texas Petrochemicals Inc.), Revolving Credit Agreement (Texas Petrochemicals Inc.)

Accountant’s Statement. Concurrently with the delivery of the financial statements referred to in Section 7.1(b7.1(c), if Xxxxx Xxxxxxxx LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”), ) shall have obtained from the regular audit of the business of the Company, knowledge of the existence of an any Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in the event the Auditors no longer produce provide such opinions under applicable accounting or auditing standards); and;

Appears in 2 contracts

Samples: Security Agreement (Texas Petrochemicals Inc.), Revolving Credit Agreement (Texas Petrochemicals Inc.)

Accountant’s Statement. Concurrently with the delivery of the financial statements referred to in Section 7.1(b), if Xxxxx Gxxxx Xxxxxxxx LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”), shall have obtained from the regular audit of the business of the Company, knowledge of the existence of an Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in the event the Auditors no longer produce such opinions under applicable accounting or auditing standards); and

Appears in 2 contracts

Samples: Term Loan Agreement (Texas Petrochemicals Inc.), Term Loan Agreement (Texas Petrochemicals Inc.)

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Accountant’s Statement. Concurrently with the delivery of the financial statements referred to in Section 7.1(b7.1(c), if Xxxxx Xxxxxxxx LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”), ) shall have obtained from the regular audit of the business of the Company, knowledge of the existence of an any Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in the event the Auditors no longer produce provide such opinions under applicable accounting or auditing standards); and;

Appears in 1 contract

Samples: Revolving Credit Agreement (TPC Group Inc.)

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