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 September 2, 2006 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 2007, 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 GAAP. 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 (Hei Inc), Credit and Security Agreement (Hei Inc)

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Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2003 and unaudited financial statements for the fiscal year ended December 31, 2004 and the fiscal-year-to-date period ended March January 31, 20072005, 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 GAAPgenerally 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 (Exabyte Corp /De/), Credit and Security Agreement (Exabyte Corp /De/)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2001 and unaudited financial statements for the fiscal-year-to-date period ended March August 31, 20072002, 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 GAAPgenerally 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 (Digital Angel Corp), Credit and Security Agreement (Digital Angel Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2June 30, 2006 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20072002, 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 GAAPgenerally 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 (Pro Dex Inc), Credit and Security Agreement (Pro Dex Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements of MISCOR for its fiscal year ended September 2December 31, 2006 2006, and unaudited financial statements for the fiscal-year-to-date period ended March December 31, 2007, 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 GAAPgenerally accepted accounting principals. 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   by And (Miscor Group, Ltd.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited consolidated and consolidating financial statements for its fiscal year ended September 2December 31, 2006 2005 and unaudited internally prepared financial statements for the fiscal-year-to-date period ended March January 31, 20072006, 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 GAAP. 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   by And (uBid.com Holdings, Inc.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31September 30, 20072002, 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 GAAPgenerally 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 1 contract

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

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2005 and unaudited financial statements for the fiscal-year-to-date period ended March 31December 8, 20072006, 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 GAAP. 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     by And (Qsgi Inc.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2005 and unaudited financial statements for the fiscal-year-to-date period ended March August 31, 2007, 2006 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 GAAP. 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 (Pure Earth, Inc.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20072003, 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 GAAP. 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 (Ciber Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20072003, 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 GAAPgenerally 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 1 contract

Samples: Credit and Security Agreement (Ag Bag International LTD)

Financial Condition; No Adverse Change. The Borrower has furnished to Lender the Lender its Companies’ audited financial statements for its the fiscal year ended September 2October 27, 2006 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31May 25, 20072003, and those statements fairly present in all material respects the Borrower’s Companies’ 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 GAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower’s Companies’ business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Landec Corp \Ca\)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its consolidated audited financial statements for its fiscal year ended September 2December 31, 2006 2001 and unaudited financial statements for the fiscal-year-to-date period ended March 31December 29, 20072002, 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 GAAP. 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, other than losses disclosed in the Borrower's financial projections for its fiscal year 2003 previously provided to the Lender.

Appears in 1 contract

Samples: Credit and Security Agreement (Cost U Less Inc)

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Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2June 30, 2006 2003 and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 20072004, 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 GAAPgenerally accepted accounting principals. 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 (Waters Instruments Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to Lender the Lender its Companies’ audited financial statements for its the fiscal year ended September 2October 27, 2006 2002, and unaudited financial statements for the fiscal-year-to-date period ended March 31May 25, 20072003, and those statements fairly present in all material respects the Borrower’s Companies’ 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 GAAP. Since the date of the most recent financial statements, there has been no material adverse change in the Borrower’s Companies’ business, properties or condition (financial or otherwise) which has had a Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Landec Corp \Ca\)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2008 and unaudited financial statements for the fiscal-year-to-date period ended March 31June 30, 20072009, 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 GAAPgenerally 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 (Nortech Systems Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited unaudited financial statements for its fiscal year ended September 2, 2006 and unaudited financial statements for the fiscal-year-to-date period ended March October 31, 20072003, 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 GAAPgenerally 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 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 September 2December 31, 2006 2004 and unaudited financial statements for the fiscal-year-to-date period ended March August 31, 20072005, 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 GAAP. 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 (Provena Foods Inc)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2002 and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20072003, 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 GAAPgenerally 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 (Corsair Components, Inc.)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2000 and unaudited financial statements for the fiscal-year-to-date period ended March 31September 30, 20072001, 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 GAAP. 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 (Dynamic Materials Corp)

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender its audited financial statements for its fiscal year ended September 2December 31, 2006 2005, and unaudited financial statements for the fiscal-year-to-date period ended March 31, 20072006, 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 GAAP. 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 (Staar Surgical Co)

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