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

Financial Condition; No Adverse Change. The Borrower has furnished to the Lender audited financial statements for its fiscal year ended December 29th, 2018 and unaudited financial statements for the fiscal-year-to-date period ended June 29, 2019, 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 GAAP (except in the case of unaudited interim financial statements, which are subject to year-end adjustments). 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 (CPS Technologies Corp/De/), Credit and Security Agreement (CPS Technologies Corp/De/)

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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 December 29thJune 30, 2018 2005 and unaudited financial statements for the fiscal-year-to-date period ended June 29September 30, 2019, 2005 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 GAAP (except GAAP, subject in the case of unaudited interim financial statements, which are subject statements to year-end adjustments). 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 effectMaterial Adverse Effect, except as set forth on Schedule 5.6.

Appears in 1 contract

Samples: Credit and Security Agreement (Interpharm Holdings Inc)

Financial Condition; No Adverse Change. The Borrower has heretofore furnished to the Lender its audited financial statements for its fiscal year ended December 29th31, 2018 1997, and its unaudited financial statements for the fiscal-fiscal year-to-date period ended June 29November 30, 2019, 1998 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 GAAP (GAAP, except in for year-end adjustments and the case absence of unaudited footnotes on its interim financial statements, which are subject to year-end adjustments). 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 (Heartland Technology Inc)

Financial Condition; No Adverse Change. The Borrower --------------------------------------- has heretofore furnished to the Lender audited financial statements for its fiscal year ended December 29thMarch 31, 2018 2000 and unaudited financial statements of the Borrower for the fiscal-year-to-date nine month period ended June 29ending December 31, 20192000, 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 GAAP (except GAAP, subject in the case of unaudited interim financial statements, which are subject statements to year-end adjustments)audit adjustments and the absence of footnotes. 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 (Rockshox 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 December 29th31, 2018 2016 and unaudited financial statements for the fiscal-year-to-date period ended June 29April 1, 2019, 2017 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 GAAP (except in the case of unaudited interim financial statements, which are subject to year-end adjustments)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.)

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