Business Condition. It is not in violation of its charter, bylaws, or any other organizational document, or in violation of any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority applicable to it, which violation, individually or in the aggregate, would reasonably likely have a materially adverse effect on its business or financial condition. Except as may be set forth in any documents filed with the Securities and Exchange Commission, as required to be filed by it under the Securities Act or Exchange Act, as the case may be, it is not aware of any facts or circumstances, individually or in the aggregate, which would reasonably likely have a materially adverse effect on its business or financial condition.
Business Condition. A change occurs, or is reasonably likely to occur, in the business condition (financial or otherwise), operations, properties or prospects of Seller, or the ability of Seller to pay amounts owed to Buyer under the Repurchase Documents which could reasonably be expected to have a Material Adverse Effect.
Business Condition. It is not in violation of its charter, bylaws, or any other organizational document, or in violation of any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority applicable to it, which violation, individually or in the aggregate, would reasonably likely have a materially adverse effect on its business or financial condition. Except as may be set forth in any documents required to be filed by it under the Securities Act or Exchange Act, as the case may be, it is not aware of any facts or circumstances, individually or in the aggregate, which would reasonably likely have a materially adverse effect on its business or financial condition.
Business Condition. It is not in violation of its charter, bylaws, or any other organizational document, or in violation of any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority applicable to it, which violation, individually or in the aggregate, would reasonably likely have a materially adverse effect on its business or financial condition. Except as may be set forth in any documents filed with the Securities and Exchange Commission, as required to be filed by it under the Securities Act or Exchange Act, as the case may be, or in the Securities Purchase Agreement entered into concurrently by the Parties, it is not aware of any facts or circumstances, individually or in the aggregate, which would reasonably likely have a materially adverse effect on its business or financial condition.
Business Condition. Since October 31, 1998, the Company has not:
(a) incurred any change in the assets, liabilities, financial condition or operating results of the Company from that reflected in the Financial Statements, except changes in the ordinary course of business that have not been, in the aggregate, materially adverse;
(b) effected any material change or amendment to a material contract or arrangement by which the Company or any of its assets or properties is bound or subject;
(c) sold, exchanged, or otherwise disposed of any of its assets or made any sale, assignment or transfer of any patents, trademarks, copyrights, trade secrets or other intangible assets, other than in the ordinary course of business;
(d) received notice of any resignation or termination of employment of any key officer of the Company and, to the best of its knowledge, there is no impending resignation or termination of employment of any such officer;
(e) incurred any absolute or contingent material obligation by way of guaranty, endorsement, indemnity or warranty;
(f) suffered any damage, destruction or loss, whether or not covered by insurance, to any of its material assets;
(g) waived or compromised a material right or debt owed to it;
(h) made any loan to its employees, stockholders, officers or directors, or any members of their immediate families, other than travel advances made in the ordinary course of business;
(i) entered into any contract or other arrangement relating to compensation of the Company's employees, officers or directors;
(j) declared or paid any dividend or other distribution of the assets of the Company;
(k) redeemed, repurchased, canceled, granted or issued or effected any other change to any of the capital stock of the Company or options to purchase the same;
(l) entered into any agreement obligating the Company to make payments exceeding $25,000 in any fiscal year;
(m) to the best of its knowledge, suffered any other event or condition of any character that might materially and adversely affect the assets, properties, financial condition, operating results or business of the Company (as such business is currently conducted and as it is proposed to be conducted in the Business Plan);
(n) satisfied or discharged any lien, claim or encumbrance and has not made payment of any material obligation, except in the ordinary course of business; or
(o) made any agreement or commitment to do any of the things described in this Section 36.
Business Condition. 1 1.7 Claim..........................................................2 1.8 Closing........................................................2 1.9
Business Condition. Since the September 30, 2005 financial statements, there shall not have been any Material Adverse Change except as publicly reported to the Securities and Exchange Commission.
Business Condition. There shall not have occurred program terminations as a result of the transactions contemplated by this Agreement that individually or in the aggregate have had or could reasonably be expected to have a Material Adverse Effect.
Business Condition. Since the December 31, 2001 financial statements, there shall not have been any Material Adverse Change.
Business Condition. Each Party represents and warrants to the other Party that as of the Effective Date: (a) it is not in violation of its charter, bylaws, or any other organizational document, or in violation of any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority applicable to it, which violation, individually or in the aggregate would reasonably likely have a materially adverse effect on its business or financial condition and (b) except as may be set forth in any documents filed with the SEC, as required to be filed by it under the Securities Act of 1933 or Exchange Act of 1934, as the case may be, it is not aware of any facts or circumstances, individually or in the aggregate, that would reasonably likely have a materially adverse effect on its business or financial condition.
