Common use of Financial Information; Solvency Clause in Contracts

Financial Information; Solvency. All information delivered to Administrative Agent and pertaining to the financial condition of any Credit Party fairly presents the financial position of such Credit Party as of such date in conformity with GAAP (and as to unaudited financial statements, subject to normal year-end adjustments and the absence of footnote disclosures). Since June 30, 2007, there has been no material adverse change in the business, operations, properties, prospects or condition (financial or otherwise) of any Credit Party. Each Borrower and each additional Credit Party is Solvent.

Appears in 2 contracts

Samples: Credit and Security Agreement (Derma Sciences, Inc.), Credit and Security Agreement (Targanta Therapeutics Corp.)

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Financial Information; Solvency. All information delivered to Administrative Agent and pertaining to the financial condition of any Credit Party fairly presents in all material respects the financial position of such Credit Party as of such date in conformity with GAAP (and as to unaudited financial statements, subject to normal year-end adjustments and the absence of footnote disclosures). Since June 30December 31, 20072006, there has been no material adverse change in the business, operations, properties, prospects or condition (financial or otherwise) of any Credit Party. Each Borrower and each additional Credit Party is Solvent.

Appears in 1 contract

Samples: Credit and Security Agreement (Barrier Therapeutics Inc)

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Financial Information; Solvency. All information delivered to Administrative Agent and pertaining to the financial condition of any Credit Party fairly presents in all material respects, when considered together, the financial position of such Credit Party as of such date in conformity with GAAP (and as to unaudited financial statements, subject to normal year-end adjustments and the absence of footnote disclosures). Since June 30As of December 31, 20072006, there has been no material adverse change in the business, operations, properties, prospects properties or financial condition (financial or otherwise) of any Credit Party. Each Borrower and each additional Credit Party is Solvent.

Appears in 1 contract

Samples: Credit and Security Agreement (NxStage Medical, Inc.)

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