Examination & Verification; Net Availability; Projections Sample Clauses

Examination & Verification; Net Availability; Projections. The Agent shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Companies, and such examination shall indicate that no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets of the Companies, the Companies’ Subsidiaries or the Guarantors since January 31, 2007. In addition, the Companies shall have delivered to the Agent, and the Agent shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Companies on a consolidated basis for not less than twelve (12) months following the Closing Date.
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Examination & Verification; Net Availability; Projections. The Agent shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Company shall have opening Net Availability of not less than Eight Million Dollars ($8,000,000), and (ii) no material adverse change has occurred in the business, financial condition, 30 operations or properties of the Company, individually, or the Company and its consolidated subsidiaries, taken as a whole, since December 31, 2004. In addition, the Company shall have delivered to the Agent, and the Agent shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Company and its consolidated subsidiaries on a consolidated basis, for not less than twelve (12) months following the Closing Date. Moreover, the Agent shall have received a current accounts payable aging and book overdraft summary for each of the Credit Parties, and shall be satisfied (y) with the level of such accounts payable and book overdrafts and (z) that all or substantially all of such accounts payable and book overdrafts are not in excess of their historical levels.
Sample 1
Examination & Verification; Net Availability; Projections. The Lender shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Company shall have opening Net Availability (as defined in the CIT Financing Agreement) of not less than Eight Million Dollars ($8,000,000), and (ii) no material adverse change has occurred in the business, financial condition, operations or properties of the Company, individually, or the Company and its consolidated subsidiaries, taken as a whole, since December 31, 2004. In addition, the Company shall have delivered to the Lender and the Lender shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Company and its consolidated subsidiaries on a consolidated basis, for not less than twelve (12) months following the Closing Date. Moreover, the Lender shall have received a current accounts payable aging and book overdraft summary for each of the Credit Parties, and shall be satisfied (y) with the level of such accounts payable and book overdrafts and (z) that all or substantially all of such accounts payable and book overdrafts are not in excess of their historical levels.
Sample 1
Examination & Verification; Net Availability; Projections. CIT shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Company shall have opening Net Availability of not less than $2,000,000, provided, that such opening Net Availability amount is conditioned upon all of the Company’s debts, obligations, and accounts payable being no more than 60 days past due date unless they are otherwise governed by agreed upon written terms extending the due date of such accounts payable, and further that all fees and expenses associated with the Revolving Line of Credit have been paid (unless otherwise provided for in this Financing Agreement); provided, further, that, notwithstanding anything contained in this Financing Agreement to the contrary, CIT reserves the right to increase the opening Net Availability amount in the event any of the foregoing conditions are not satisfied by the Company and (ii) no material adverse change has occurred in the financial condition, business, profits, operations or assets of the Company, the Company’s subsidiaries or the Guarantors since February 28, 2006. In addition, the Company shall have delivered to CIT, and CIT shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Company on a consolidated basis for not less than twelve (12) months following the Closing Date.
Sample 1
Examination & Verification; Net Availability; Projections. CIT shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Company shall have opening Net Availability of not less than $4,000,000, and (ii) no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets of the Company and the Guarantors taken as a whole since December 31,2005, other than the incurrence of Indebtedness in connection with the Acquisition. In addition, the Company shall have delivered to CIT, and CIT shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Company for not less than twelve (12) months following the Closing Date.
Sample 1
Examination & Verification; Net Availability; Projections. The Lender shall have completed and be satisfied with an updated examination and verification of the Accounts, Inventory and the books and records of the Companies, and such examination shall indicate that no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets of Chaus, the Companies’ Subsidiaries or the Guarantors since March 31, 2009. It is understood that such requirement contemplates that all debts and obligations are current, and that all payables are being handled in the normal course of the Companies’ business and consistent with its past practice. In addition, the Companies shall have delivered to the Lender, and the Lender shall be satisfied with, balance sheet, income statement, cash flows and Availability projections for the Companies on a consolidated basis for not less than twelve (12) months following the Closing Date.
Sample 1
Examination & Verification; Net Availability; Projections. CIT shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable, Inventory and the books and records of the Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Company shall have opening Net Availability of not less than $1,300,000, it being understood that this requirement contemplates that all debts and obligations are current, and that all payables are being handled in the normal course of Company’s business and consistent with its past practice, and (ii) no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets of the Company, the Company’s subsidiaries or the Guarantors since September 30, 2006. In addition, the Company shall have delivered to CIT, and CIT shall be satisfied with, balance sheet, income statement, cash flows and Net Availability projections for the Company for not less than twelve (12) months following the Closing Date.
Sample 1
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Examination & Verification; Net Availability; Projections. The Agent shall have completed and be satisfied with an updated examination and verification of the Trade Accounts Receivable and the books and records of each Company, and such examination shall indicate that (i) after giving effect to all loans, advances and extensions of credit to be made at closing, the Companies shall have opening Net Availability of not less than $1,000,000, and (ii) no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets of any Company since December 31, 2005. In addition, the Companies shall have delivered to the Agent, and the Agent shall be satisfied with, (i) balance sheet, income statement, cash flows and Net Availability projections for the Companies on a consolidated basis for not less than twelve (12) months following the Closing Date and (ii) an updated borrowing base certificate in form and substance satisfactory to Agent outlining the Borrowing Base as of the Closing Date.
Sample 1

Related to Examination & Verification; Net Availability; Projections

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Annual Collateral Verification Each year, at the time of delivery of annual financial statements with respect to the preceding Fiscal Year pursuant to Section 5.1(c), Company shall deliver to Collateral Agent a certificate of an Authorized Officer either (i) confirming that there has been no change in such information since the date of the Collateral Questionnaire delivered on the Closing Date or the date of the most recent certificate delivered pursuant to this Section 5.1(o) or (ii) identifying such changes;

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

  • Collateral Examination Agent shall have completed Collateral examinations and received appraisals, the results of which shall be satisfactory in form and substance to Lenders, of the Receivables, Inventory, General Intangibles, and Equipment of each Borrower and all books and records in connection therewith;

  • Field Examination The Administrative Agent or its designee shall have conducted a field examination of the Loan Parties’ Accounts, Inventory and related working capital matters and of the Borrower’s related data processing and other systems, the results of which shall be satisfactory to the Administrative Agent in its sole discretion.

  • Continued Availability and Cooperation (a) Following termination of the Executive’s employment, the Executive shall cooperate fully with the Company and with the Company’s counsel in connection with any present and future actual or threatened litigation, administrative proceeding or investigation involving the Company that relates to events, occurrences or conduct occurring (or claimed to have occurred) during the period of the Executive’s employment by the Company. Cooperation will include, but is not limited to:

  • Agreements Regarding Collateral and Field Examination Reports (ll) Lien Releases;

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Field Examinations At the Administrative Agent’s sole option, the Administrative Agent shall have completed its field examinations of the Borrower’s books and records, assets, and operations which examinations will be satisfactory to the Administrative Agent in its sole and absolute discretion.

  • Annual Operating Budget and Financial Projections Within forty five (45) days after the end of each fiscal year of Borrower, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s board of directors, together with any related business forecasts used in the preparation of such annual financial projections;

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