Common use of Correctness of Financial Statements Clause in Contracts

Correctness of Financial Statements. The consolidated balance sheet of Borrower and its Consolidated Subsidiaries as of April 28, 2013, and the related consolidated statements of income, shareholders’ equity and cash flows for the fiscal year then ended, reported on by Xxxxx Xxxxxxxx LLP, true copies of which have been delivered by Borrower to Bank prior to the date hereof, (a) are complete and correct and present fairly the consolidated financial condition of Borrower and its Consolidated Subsidiaries as of such dates and their consolidated results of operations and cash flows for such periods stated, (b) disclose all liabilities of Borrower and its Consolidated Subsidiaries that are required to be reflected or reserved against under generally accepted accounting principles, whether liquidated or unliquidated, fixed or contingent, and (c) have been prepared in accordance with generally accepted accounting principles consistently applied. Since the dates of such financial statements there has been no Material Adverse Change in the financial condition of Borrower, nor has Borrower mortgaged, pledged, granted a security interest in or otherwise encumbered any of its assets or properties except in favor of Bank or as otherwise permitted by Bank in writing.

Correctness of Financial Statements. The consolidated balance sheet of Borrower and its Consolidated Subsidiaries as of April 28January 30, 20132022, and the related consolidated statements of income, shareholders’ equity and cash flows for the fiscal year quarter then ended, reported on by Xxxxx Xxxxxxxx LLP, true copies of which have been delivered by Borrower to Bank prior to the date hereof, (a) are complete and correct and present fairly the consolidated financial condition of Borrower and its Consolidated Subsidiaries as of such dates and their consolidated results of operations and cash flows for such periods stated, (b) disclose all liabilities of Borrower and its Consolidated Subsidiaries that are required to be reflected or reserved against under generally accepted accounting principlesGAAP, whether liquidated or unliquidated, fixed or contingent, and (c) have been prepared in accordance with generally accepted accounting principles GAAP consistently appliedapplied (except to the extent provided in the notes to such financial statements and subject to normal year-end audit adjustments, all of which are of a recurring nature and none of which, individually or in the aggregate, would be material, and subject to the absence of footnotes). Since the dates of such financial statements there has been no Material Adverse Change in the financial condition of Borrower, nor has Borrower mortgaged, pledged, granted a security interest in or otherwise encumbered any of its assets or properties except in favor of Bank or as otherwise permitted hereunder or by Bank in writing.