Buyer’s Financial Condition. No petition has been filed by or against Buyer under the Federal Bankruptcy Code or any similar Laws.
Buyer’s Financial Condition. This Agreement and all shipments made hereunder shall at all times be subject to the approval by Seller of Buyer’s financial condition. If the financial condition of Buyer at any time becomes unsatisfactory to Seller, in Seller’s sole discretion, or if Buyer fails to make any payment when due, in addition to any other rights Seller may have, Seller may defer or decline to make any shipment or shipments hereunder or may condition any such shipment upon receipt of satisfactory security or cash payments in advance.
Buyer’s Financial Condition. The Buyer is a newly formed Corporation. It has no material liabilities except as provided for in this Agreement, and no assets except the joint and several agreements of EMI to perform in accordance with the terms of this Agreement.
Buyer’s Financial Condition. Buyer's financial condition is as is represented to Seller on any financial statements previously submitted to Seller by Buyer.
Buyer’s Financial Condition. At the Closing, and after consummation of all of the transactions contemplated hereby, Buyer will have no material assets or liabilities, not disclosed on its financial statements.
Buyer’s Financial Condition. No insolvency proceeding has been filed by or against Buyer and Buyer has not admitted in writing an inability to pay its debts as they become due;
Buyer’s Financial Condition. (a) Each issuance of a Purchase Order to Seller will constitute Buyer's representation and warranty that:
(i) Buyer is not insolvent on a balance sheet basis;
(ii) Buyer is paying all debts as they become due;
(iii) Buyer is able to pay for the Goods identified in such Purchase Order in accordance with the terms of this Agreement;
(iv) Buyer is in compliance with all loan covenants and other obligations to which it is subject; and
(v) all financial information provided to Seller concerning Buyer is true and accurate, and fairly represents Buyer's financial condition as of the date such information is provided or the specific time period stated in the information.
(b) Buyer shall furnish Seller with statements accurately and fairly evidencing Buyer's financial condition as Seller may, from time to time, reasonably request. Without limitation of the foregoing, Buyer shall furnish to Seller copies of any quarterly or annual financial statements delivered by Buyer to any of its creditors within thirty (30) days following delivery of such financial statements to such creditor. Buyers filing of such financial statements with the US Securities and Exchange Commission via its XXXXX system shall be deemed delivery to Seller.
(c) Buyer shall promptly notify Seller, and Seller shall promptly notify Buyer, in writing, of any and all events that have had or may have a material adverse effect on the notifying Party’s ability to timely perform its obligations under this Agreement, including:
(i) any change in management;
(ii) any sale, lease or exchange of a material portion of the notifying Party’s assets;
(iii) a change in Control of the notifying Party; or
(iv) the breach of any loan covenants or other material obligations of the notifying Party to its creditors. Nothing in this Subsection C shall be construed to require any party to disclose any non-public information that such party reasonably believes would constitute a violation of any applicable law or regulation. Upon request, Seller may require that Buyer enter into a “Standstill Agreement” prohibiting Buyer or any individual with access to Seller’s disclosures from trading in Seller’s stock. Buyer’s filing of reports regarding such information with the US Securities and Exchange Commission via its XXXXX system shall be deemed delivery to Seller.
Buyer’s Financial Condition. Buyer shall have furnished to Parent evidence, in such form as shall be reasonably acceptable to Parent, showing Buyer's ability to pay the Promissory Note. BUYER AGREES THAT SUCH EVIDENCE SHALL BE SUPPLEMENTED ON AN ANNUAL BASIS, UNTIL THE PROMISSORY NOTE IS PAID IN FULL.
Buyer’s Financial Condition. The Buyer is a newly formed corporation. It has no material liabilities except as provided for in this Agreement, and no assets except the joint and several agreements of QEC to perform in accordance with the terms of this Agreement.
Buyer’s Financial Condition. The Sellers shall have completed their review of Buyer's financial statements, books, records, accounts receivable, inventory and actual and potential liabilities, and determined, in their reasonable discretion, that Buyer has the financial to repay the Promissory Note and otherwise perform its obligations hereunder in all material respects.
