Common use of Financial Condition; No Adverse Change Clause in Contracts

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit and Security Agreement (Pro Dex Inc), Credit and Security Agreement (Pro Dex Inc)

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Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30August 31, 2001 2002 and its unaudited financial statements for the fiscal-year-to-date period month ended March December 31, 2002, 2002 and those statements fairly present in all material respects the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit and Security Agreement (Rf Monolithics Inc /De/), Credit and Security Agreement (Rf Monolithics Inc /De/)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June September 30, 2001 2004 and unaudited financial statements for the fiscal-year-to-date period ended March August 31, 2002, 2005 and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit and Security Agreement (Gardenburger Inc), Credit and Security Agreement (Gardenburger Inc)

Financial Condition; No Adverse Change. The Borrower has -------------------------------------- heretofore furnished to the Lender its audited unaudited financial statements for its fiscal year ended June 30August 31, 2001 2000 and its unaudited financial statements for the fiscal-year-to-date period months ended March September 30, 2000 and October 31, 2002, 2000 and those statements fairly present in all material respects the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit and Security Agreement (Rf Monolithics Inc /De/), Credit and Security Agreement (Rf Monolithics Inc /De/)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30July 31, 2001 2009 and unaudited financial statements for the fiscal-year-to-date period ended March 31November 30, 2002, 2009 and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit and Security Agreement (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Professional Veterinary Products LTD /Ne/)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30February 26, 2001 2005, and unaudited financial statements for the fiscal-year-to-date period ended March 31August 27, 20022005, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit and Security Agreement (Christopher & Banks Corp), Credit and Security Agreement (Christopher & Banks Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March August 31, 2002, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit and Security Agreement (Digital Angel Corp), Credit and Security Agreement (Digital Angel Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 1995 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March December 31, 2002, 1996 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 2 contracts

Samples: Credit Agreement (Medical Graphics Corp /Mn/), Credit and Security Agreement (Medical Graphics Corp /Mn/)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30September 2, 2001 2006 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20022007, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit and Security Agreement (Hei Inc), Credit and Security Agreement (Hei Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited unaudited financial statements statement for its fiscal year ended June 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, and those statements 1999 which statement fairly present presents the Borrower's financial condition on the dates this date thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Chaparral Network Storage Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30, 2001 2003 and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 20022004, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesprincipals. Since the date of the most recent financial statements, there has been no change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Waters Instruments Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30dated as of January 3, 2001 1999, and unaudited interim financial statements for the fiscal-year-to-date period ended March dated as of October 31, 2002, 1999 and those statements fairly present the Borrower's financial condition on as of the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Sportsmans Guide Inc)

Financial Condition; No Adverse Change. The Borrower has Borrowers have heretofore furnished to the Lender its audited financial statements for its fiscal year ended June dated as of December 31, 1998, and unaudited interim financial statements dated as of September 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, 1999 and those statements fairly present the Borrower's Borrowers' financial condition on the dates thereof and the results of its their operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the any Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Leather Factory Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its preliminary audited financial statements for its the fiscal year ended June 30December 31, 2001 2000 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31November 30, 2002, 2001 and those statements fairly present the Borrower's financial condition of on the dates thereof and the results of its their operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since Except as set forth on Schedule 5.5, since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effectof the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Allis Chalmers Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2003 and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 2002, 2003 and those statements fairly present the Borrower's financial condition of the Borrower and its Affiliates, on a consolidated basis, on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's businessfinancial condition, properties or condition (financial operations of Borrower or otherwise) which has had a Material Adverse Effectany of its Affiliates.

Appears in 1 contract

Samples: Credit and Security Agreement (Schuff International Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30, 2001 2000 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March May 31, 2002, 2001 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Vari L Co Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30February 28, 2001 1998 and unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31January 30, 2002, 1999 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Brauns Fashions Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30, 2001 2008 and unaudited financial statements for the fiscal-year-to-date period ended March May 31, 2002, 2009 and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (MGP Ingredients Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June September 30, 2001 1999 and unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31November 30, 2002, 1999 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Telular Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 1998 and unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31April 30, 2002, 1999 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Educational Insights Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited unaudited financial statements for its fiscal year ended June 30December 31, 2001 1999 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended :March 31, 2002, 2000 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Nebo Products Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2012 and unaudited financial statements for the fiscal-year-to-date period ended March 31[June 30, 2002, 2013] and those statements fairly present in all material respects the Borrower's financial condition of the Borrower and its Affiliates, on a consolidated basis, on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent audited financial statements, there has been no material adverse change in the Borrower's businessfinancial condition, properties or condition (financial operations of Borrower or otherwise) which has had a Material Adverse Effectany of its Affiliates.

Appears in 1 contract

Samples: Credit and Security Agreement (HC2 Holdings, Inc.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30July 31, 2001 2003 and unaudited financial statements for the fiscal-year-to-date period ended March December 31, 20022003, and those statements fairly present the each Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Zila Inc)

Financial Condition; No Adverse Change. The Borrower has Borrowers have furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2000 and unaudited interim financial statements for the fiscal-year-to-date period ended March dated as of January 31, 2002, and those statements fairly present the Borrower's Borrowers' financial condition on the dates thereof and the results of its their operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the any Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Leather Factory Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its Bank audited financial statements for its fiscal year ended June 30December 31, 2001 1999 and unaudited financial statements for the fiscal-year-to-date period month ended March January 31, 2002, 2000 and those statements fairly present the Borrower's financial condition of the Borrower on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statementsstatements described above, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effectof the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Factual Data Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited unaudited financial statements of the Borrower for its the fiscal year ended June 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March December 31, 20021999, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Orthologic Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited compiled financial statements for its the fiscal year ended June 30December 31, 2001 2000 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31November 30, 2002, 2001 and those statements fairly present the Borrower's financial condition of on the dates thereof and the results of its their operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since Except as set forth on Schedule 5.5, since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effectof the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Allis Chalmers Corp)

Financial Condition; No Adverse Change. The Borrower has Borrowers have heretofore furnished to the Lender its audited financial statements for its fiscal year ended June September 30, 2001 1997 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March August 31, 2002, 1998 and those statements fairly present the each Borrower's financial condition on the dates thereof and the results of its such Borrower's operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the either Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Medical Dynamics Inc)

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Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its draft audited financial statements for its fiscal year ended June 30December 31, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31September 30, 2002, and those statements fairly present the each Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the any Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Bionova Holding Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June November 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, 1998 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Intercreditor Agreement (Naco Industries Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2000, and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31November 30, 20022001, and those statements fairly present present, in all material respects, the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the Borrower’s most recent financial statements, there has been no change in Material Adverse Change, other than such charges to the Borrower's business’s operations with respect to its fiscal year ended December 31, properties 2001 as have been previously disclosed to the Lender in writing on or condition (financial or otherwise) which has had a Material Adverse Effectabout March 4, 2002.

Appears in 1 contract

Samples: Loan and Security Agreement (Technology Flavors & Fragrances Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements of the Borrower for its fiscal year Fiscal Year ended June 30, 2001 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, and those such statements fairly present the Borrower's financial condition of the Borrower on the dates thereof and the results of its operations and cash flows for the periods period then ended and were prepared in accordance with generally accepted accounting principlesprinciples applied in a consistent manner. Since the date of such financial statements of the most recent financial statementsBorrower, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effectof the Borrower.

Appears in 1 contract

Samples: Credit & Security Agreement (Medicis Pharmaceutical Corp)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements of the Borrower for its fiscal year ended June 30January 31, 2001 1996, and unaudited financial statements of the Borrower for the fiscal-year-to-date period months ended March December 31, 20021996, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Ultra Pac Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31September 30, 2002, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (2nd Swing Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender Bank its audited financial statements for its fiscal year ended June January 30, 2001 2010, and unaudited financial statements for the fiscal-year-to-date period ended March October 31, 20022010, and those statements fairly present the Borrower's ’s financial condition on the as of those dates thereof and the results of its Borrower’s operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no change Material Adverse Change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Term Loan Agreement (Cherokee Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender Bank its audited financial statements for its fiscal year ended June January 30, 2001 2011, and unaudited financial statements for the fiscal-year-to-date period ended March October 31, 20022011, and those statements fairly present the Borrower's ’s financial condition on the as of those dates thereof and the results of its Borrower’s operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no change Material Adverse Change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Term Loan Agreement (Cherokee Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 1996 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31September 30, 20021997, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (SPF Energy Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements of the Borrower for its fiscal year ended June 30March 31, 2001 1996 and unaudited financial statements of the Borrower for the fiscal-year-to-date period months ended March 31June 30, 20021996, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Marquest Medical Products Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30as of February 28, 2001 1997 and unaudited financial statements for the fiscal-fiscal year-to-date period ended March May 31, 2002, 1997 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Meteor Industries Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30August 31, 2001 2006, and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 20022007, and those statements fairly present present, on a consolidated basis, in all material respects the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had or is reasonably likely to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended June 30, 2001 1997 and its unaudited financial statements for the fiscal-fiscal year-to-date period ended March 31September 30, 2002, 1997 and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Micro Component Technology Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited unaudited financial statements for its fiscal year ended June 30, 2001 and unaudited financial statements for the fiscal-year-to-date period ended March October 31, 20022003, and those statements fairly present the Borrower's financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (International Displayworks Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20022003, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Corsair Components, Inc.)

Financial Condition; No Adverse Change. The Each Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30January 1, 2001 2006 and unaudited financial statements for the fiscal-year-to-date period ended March 31May 28, 20022006, and those statements fairly present the such Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principlesGAAP. Since the date of the most recent financial statements, there has been no material adverse change in the such Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect).

Appears in 1 contract

Samples: Credit and Security Agreement (Global Employment Holdings, Inc.)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements of the Borrower for its fiscal year Fiscal Year ended June 30, 2001 1998 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2002, and those such statements fairly present the Borrower's financial condition of the Borrower on the dates thereof and the results of its operations and cash flows for the periods period then ended and were prepared in accordance with generally accepted accounting principlesprinciples applied in a consistent manner. Since the date of such financial statements of the most recent financial statementsBorrower, there has been no material adverse change in the Borrower's business, properties or condition (financial or otherwise) which has had a Material Adverse Effectof the Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Medicis Pharmaceutical Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended June 30December 31, 2001 2008 and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 20022009, and those statements fairly present the Borrower's ’s financial condition on the dates thereof and the results of its operations and cash flows for the periods then ended and were prepared in accordance with generally accepted accounting principles. Since the date of the most recent financial statements, there has been no change in the Borrower's ’s business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Nortech Systems Inc)

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