Financial Statements and Business Condition. The Financial Statements fairly present the respective financial conditions and results of operations of Borrower and Guarantor as of the date or dates thereof and for the periods covered thereby. There are no material liabilities, direct or indirect, fixed or contingent, of Borrower or Guarantor as of the dates of such Financial Statements that are not reflected therein or in the notes thereto that have not otherwise been disclosed to Lender in writing. Except for any such changes heretofore expressly disclosed in writing to Lender, there have been no material adverse changes in the respective financial conditions of Borrower or Guarantor from the financial conditions shown in their respective Financial Statements, nor have Borrower or Guarantor incurred any material liabilities, direct or indirect, fixed or contingent, that are not shown in their respective Financial Statements. Borrower and Guarantor are able to pay all of their respective debts as they become due, and Borrower and Guarantor, as the case may be, will maintain such solvent financial condition, giving effect to the Obligations, as long as Borrower or Guarantor are obligated to Lender under this Agreement or any of the other Loan Documents. Neither Borrower's nor Guarantor's Obligations under this Agreement and the other Loan Documents will render Borrower or Guarantor unable to pay their respective debts as they become due.
Financial Statements and Business Condition. The Weekly Flash Reports, the Monthly Financial Reports for the first ten (10) months of the calendar year 2001 and the Alternative Financial Models dated December 4, 2001 are, to the best of Borrower's knowledge, accurate and fairly represent the financial condition of the Borrower for the periods in question, subject to the written qualifications set forth therein, including the fact that such statements and reports are preliminary and subject to completion of the audit thereof and that Borrower anticipates adjustments thereto which may significantly affect the results thereof, including an estimated reduction in shareholder equity of $63,000,000. To the best of Borrower's knowledge, there are no material liabilities, direct or indirect, fixed or contingent, of Borrower, except as disclosed to Lender in writing."
Financial Statements and Business Condition. The Financial Statements for the first nine (9) months of the calendar year 2005, are, to the best of Borrower’s knowledge, accurate and fairly represent the financial condition of the Borrower for the periods in question, subject to the written qualifications set forth therein. To the best of Borrower’s knowledge, there are no material liabilities, direct or indirect, fixed or contingent, of Borrower, except as disclosed to Agent in writing.
Financial Statements and Business Condition. The Financial Statements delivered to date fairly present the respective financial conditions and results of operations of each Borrower as of the date or dates thereof and for the periods covered thereby. There were no material liabilities, direct or indirect, fixed or contingent, of either Borrower as of the dates of such Financial Statements which were not reflected therein or in the notes thereto, which have not otherwise been disclosed to TFC in writing. Except for any such changes heretofore expressly disclosed in writing to TFC, there has been no material adverse change in the respective financial conditions of either Borrower from the financial conditions shown in their respective Financial Statements, nor has either Borrower incurred any material liabilities, direct or indirect, fixed or contingent, which are not shown in its Financial Statements. Each Borrower is able to pay all of its respective debts as they become due and each Borrower shall maintain such solvent financial condition, giving effect to the Obligations, as long as the Borrower is obligated to Lenders under the Agreement or in any other manner whatsoever. Each Borrower's Obligations under this Agreement and under the Loan Documents will not render such Borrower unable to pay its debts as they become due. The present fair market value of each Borrower's assets is greater than the amount required to pay its respective total liabilities.
Financial Statements and Business Condition. Preferred Equities -------------------------------------------- Corporation's and Guarantor's annual financial statements were prepared in accordance with GAAP and fairly present the respective financial conditions and results of operations of Preferred Equities Corporation and Guarantor as of the date or dates thereof and for the periods covered thereby. There were no material liabilities, direct or indirect, fixed or contingent, of Preferred Equities Corporation or Guarantor as of the dates of such annual financial statements which were not reflected therein or in the notes thereto, which have not otherwise been disclosed to Lender in writing. Preferred Equities Corporation's and Guarantor's quarterly interim financial statements fairly present the respective financial conditions and results of operation of Preferred Equities Corporation and Guarantor as of the dates thereof and for the periods covered thereby, subject to any changes required as a result of year end adjustments. Except for any such changes heretofore expressly disclosed in writing to Lender, there has been no material adverse change in the respective financial conditions of Preferred Equities Corporation or Guarantor from the financial conditions shown in their respective financial statements, nor have Preferred Equities Corporation or Guarantor incurred any material liabilities, direct or indirect, fixed or contingent, which are not shown in their respective financial statements. Preferred Equities Corporation is able to pay all of its debts as they become due, Preferred Equities Corporation shall maintain such solvent financial condition, giving effect to the Indebtedness, as long as Preferred Equities Corporation is obligated to Lender under this Agreement or in any other manner whatsoever. Preferred Equities Corporation's obligations under this Agreement and under the Loan Documents will not render Preferred Equities Corporation unable to pay its debts as they become due. The present fair market value of its assets is greater than the amount required to pay its total liabilities.
Financial Statements and Business Condition. Section 6.3 is hereby restated and amended to read as follows:
Financial Statements and Business Condition. Bluegreen Corporation has delivered to Lender its financial statements for the Fiscal Year ending March 29, 1998. Such financial statements fairly present the financial condition and (if applicable) results of operations of Bluegreen Corporation as of the date or dates thereof and for the periods covered thereby. All such financial statements were prepared in accordance with GAAP. Except for any such changes heretofore expressly disclosed in writing to Lender, there has been no material adverse change in the financial condition of Bluegreen Corporation since March 29, 1998. Borrowers are able to pay all of their respective debts as they become due, and Borrowers shall maintain such solvent financial condition, giving effect to all obligations, absolute and contingent, of each such Borrowers. Each such Borrower's obligations under this Agreement and under the Loan Documents will not render the respective Borrower unable to pay its debts as they become due. The present fair market value of each Borrower's assets is greater than the amount required to pay its total liabilities.
Financial Statements and Business Condition. Taken as a whole, all financial data and other information of whatever nature that have been given to Lender with respect to Parent (i) is complete and correct and does not omit to state any material fact necessary in order to make the statements herein or therein not misleading; and (ii) accurately presents the financial condition of Parent as of the date on which the same have been furnished to Lender. To the extent required by GAAP, all balance sheets disclose all known liabilities, direct and contingent, as of their respective dates. No Material Adverse Effect has occurred since the date of the most recent of each such financial statement given to Lender other than changes in the ordinary course of business, none of which changes have had or could reasonably be expected to have a Material Adverse Effect.
Financial Statements and Business Condition. Borrower's financial statements fairly present the respective financial conditions and (if applicable) results of operations of Borrower as of the date or dates thereof and for the periods covered thereby. All such financial statements, other than those prepared on behalf of a natural person, if any, were prepared in accordance with GAAP. Except for any such changes heretofore expressly disclosed in writing to Agent, there has been no material adverse change in the respective financial conditions of Borrower from the financial conditions shown in the financial statements. Borrower is able to pay all of its debts as they become due, and Borrower shall maintain such solvent financial condition, giving effect to all obligations, absolute and contingent, of Borrower. Borrower's obligations under this Agreement and under the Loan Documents will not render Borrower unable to pay its debts as they become due. The present fair market value of Borrower's assets is greater than the amount required to pay its total liabilities.
Financial Statements and Business Condition. Borrower's financial statements fairly present the respective financial conditions and (if applicable) results of operations of Borrower as of the date or dates of the financial statements and for the periods covered by the financial statements. All such financial statements, other than those prepared on behalf of a natural person, if any, were prepared in accordance with GAAP. There has been no material adverse change in the financial condition of Borrower from the financial condition shown in its financial statements furnished to Lender. Borrower is able to pay all of its debts as they become due, and Borrower shall maintain such solvent financial condition, giving effect to all obligations, absolute and contingent, of Borrower. Borrower's obligations under the Loan Documents will not render Borrower unable to pay its debts as they become due. The present fair market value of Borrower's assets is greater than the amount required to pay its total liabilities.
