Common use of FINANCE AND GUARANTEES Clause in Contracts

FINANCE AND GUARANTEES. (a) Full particulars of the financial indebtedness (excluding trade creditors) of each Group Company is set out in the Disclosure Letter. (b) No guarantee or Encumbrance has been given by or entered into by any Group Company or any third party in respect of the indebtedness or other obligations of any Group Company, nor by any Group Company in respect of the indebtedness or other obligations of any of the Sellers or the Sellers’ Group or any other person. (c) No Group Company is responsible for the indebtedness, or for the default in the performance of any obligation, of any other person. (d) There are no debts owing to any Group Company other than debts that have arisen in the ordinary course of their respective businesses. (e) No indebtedness of any Group Company is due and payable and no security over any of the assets of any Group Company is now enforceable, whether by virtue of the stated maturity date of the indebtedness having been reached or otherwise. (f) Particulars of the balances of the bank accounts of each Group Company, showing the position as at the day immediately preceding the date of this Agreement, are set out in the Disclosure Letter and the Group Companies have no other bank accounts. There have been no payments out of those accounts other than routine payments in the ordinary course of business since such time. (g) Particulars of all grants received by any Group Company are set out in the Disclosure Letter. There are no circumstances in which any such grants shall be required to be refunded or repaid in whole or in part.