Common use of Financial Statements and Condition Clause in Contracts

Financial Statements and Condition. (a) The audited consolidated balance sheets of Borrower as of the Fiscal Year ended September 30, 2009, and the related statements of operation, stockholders equity and cash flows (including supporting footnote disclosures) for the Fiscal Years then ended, with the opinion of EFP Xxxxxxxxx, all heretofore furnished to the Lender, have been prepared in accordance with GAAP consistently applied throughout the periods indicated, are all true and correct in all material respects and present fairly the financial condition of IEC and IECW&C at the date of said financial statements and the results of operations for the Fiscal Year then ended. The internally prepared balance sheet of GTC for the Fiscal Year-to-date and October, 2009 Fiscal Month end, and the related statements of operation, stockholders equity and cash flows for the periods then ended, all heretofore furnished to the Lender, have been prepared in accordance with GAAP (absent footnote disclosures and customary year-end adjustments) consistently applied throughout the periods indicated, are all true and correct in all material respects and present fairly the financial condition of GTC at the date of said financial statements and the results of GTC operations for the fiscal period then ending. The internally prepared balance sheet for the Credit Parties as of the June 25, 2010 Fiscal Month end is true and correct in all material respects and fairly represents the information therein applicable to the Borrowing Base Certificate of the Credit Parties delivered to the Lender on July 9, 2010. The financial statements described in this Section 10.6 are collectively called the “Financial Statements”. The Credit Parties as of such dates did not have any significant liabilities, contingent or otherwise, including liabilities for taxes or any unusual forward or long-term commitments which were not disclosed by or reserved against in the Financial Statements, and at the present time there are no material unrealized or anticipated losses from any unfavorable commitments of the Credit Parties.

Financial Statements and Condition. (a) The Borrower’s audited consolidated balance sheets financial statements as of Borrower December 31, 2018, and the Borrower’s unaudited quarterly financial statements as of December 31, 2018 (or, in each case, as of the Fiscal Year ended September 30date of the most recently delivered financial statements), 2009, and the related statements of operation, stockholders equity and cash flows (including supporting footnote disclosures) for the Fiscal Years then ended, with the opinion of EFP Xxxxxxxxx, all as heretofore furnished to the LenderBank, have been prepared in accordance with GAAP consistently applied throughout on a consistent basis (except, in the periods indicatedcase of the unaudited quarterly financial statements, are all true for the absence of footnotes and correct for year-end audit adjustments) and fairly present in all material respects and present fairly the financial condition of IEC the Borrower and IECW&C its Subsidiaries, taken as a consolidated enterprise, as at the date of said financial statements such dates and the results of their operations for the Fiscal Year period then ended. As of the dates of such initial consolidated financial statements, neither the Borrower nor any Subsidiary had any material obligation, contingent liability, liability for taxes or long term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto other than its obligations related to its acquisition on or about January 1, 2019 of State Bank Financial Corporation. The internally prepared balance sheet of GTC for the Fiscal Year-to-date and OctoberBorrower’s regulatory reports, 2009 Fiscal Month endincluding without limitation FRY-9C, and the related statements of operationFRY-9LP reports, stockholders equity and cash flows for the periods then ended, all as heretofore furnished to the LenderBank, have been prepared in accordance with GAAP (absent footnote disclosures and customary year-end adjustments) consistently applied throughout the periods indicated, are all true and correct in all material respects and fairly present fairly the financial condition of GTC the Borrower and its Subsidiaries as at the date of said financial statements such dates and the results of GTC their operations and changes in financial position for the fiscal period respective periods then endingended. The internally prepared balance sheet for the Credit Parties as As of the June 25, 2010 Fiscal Month end is true and correct in all material respects and fairly represents the information therein applicable to the Borrowing Base Certificate of the Credit Parties delivered to the Lender on July 9, 2010. The financial statements described in this Section 10.6 are collectively called the “Financial Statements”. The Credit Parties as dates of such dates did not have reports, neither the Borrower nor any significant liabilitiesSubsidiary had any material obligation, contingent or otherwiseliability, including liabilities liability for taxes or any unusual forward or long-term commitments lease obligation which were is not disclosed by or reserved against reflected in the Financial Statementssuch FRY-9C, and at the present time FRY-9LP reports other than its obligations related to its acquisition of State Bank Financial Corporation. Since December 31, 2018, there are has been no material unrealized or anticipated losses from any unfavorable commitments of the Credit PartiesMaterial Adverse Occurrence.

Financial Statements and Condition. (a) The audited consolidated balance sheets of Borrower as of the Fiscal Year ended September 30, 2009, and the related statements of operation, stockholders equity and cash flows (including supporting footnote disclosures) for the Fiscal Years then ended, with the opinion of EFP Xxxxxxxxx, all heretofore furnished to the Lender, have been prepared in accordance with GAAP consistently applied throughout the periods indicated, are all true and correct in all material respects and present fairly the financial condition of IEC and IECW&C at the date of said financial statements and the results of operations for the Fiscal Year then ended. The internally prepared balance sheet of GTC for the Fiscal Year-to-date and October, 2009 Fiscal Month end, and the related statements of operation, stockholders equity and cash flows for the periods then ended, all heretofore furnished to the Lender, have been prepared in accordance with GAAP (absent footnote disclosures and customary year-year end adjustments) consistently applied throughout the periods indicated, are all true and correct in all material respects and present fairly the financial condition of GTC at the date of said financial statements and the results of GTC operations for the fiscal period then ending. The internally prepared balance sheet for the Credit Parties as of the June 25October, 2010 2009 Fiscal Month end is true and correct in all material respects and fairly represents the information therein applicable to the Closing Date Borrowing Base Certificate of the Credit Parties delivered to the Lender on July 9, 2010Parties. The financial statements described in this Section 10.6 9.6 are collectively called the “Financial Statements”. The Credit Parties as of such dates did not have any significant liabilities, contingent or otherwise, including liabilities for taxes or any unusual forward or long-term commitments which were not disclosed by or reserved against in the Financial Statements, and at the present time there are no material unrealized or anticipated losses from any unfavorable commitments of the Credit Parties.

Financial Statements and Condition. (a) The Borrower's audited consolidated balance sheets of Borrower as of the Fiscal Year ended September 30, 2009, sheet and the related statements of operationearnings, stockholders changes in common stockholders' equity and cash flows (including supporting footnote disclosures) as of and for the Fiscal Years then endedfiscal year ended December 31, with the opinion of EFP Xxxxxxxxx, all 2003 heretofore furnished to the Lender, have been Lenders were prepared in accordance with GAAP consistently applied throughout the periods indicated, are all true involved (except as may be indicated in the notes thereto regarding the adoption of new accounting policies) and correct present fairly in all material respects the consolidated financial position of the Borrower and present fairly the financial condition of IEC and IECW&C its Subsidiaries at the date of said financial statements respective dates thereof and the consolidated results of operations of the Borrower and its Subsidiaries for the Fiscal Year respective periods then ended. The internally prepared Borrower's unaudited balance sheet of GTC for the Fiscal Year-to-date and October, 2009 Fiscal Month end, and the related statements of operation, stockholders equity earnings and cash flows as of and for the periods then endedfiscal quarter ended March 31, all 2004 heretofore furnished to the Lender, have been Lenders were prepared in accordance with GAAP (absent footnote disclosures and customary year-end adjustments) consistently applied throughout the periods indicatedinvolved and in a manner consistent with that employed in the Borrower's audited consolidated financial statements for the fiscal year ended December 31, 2003. The Borrower's unaudited interim financial statements as at March 31, 2004 do not contain any footnote disclosures and are all true and correct subject to normal recurring year-end adjustments, but otherwise present fairly in all material respects and present fairly the consolidated financial condition of GTC at the date of said financial statements and the consolidated results of GTC operations for of the fiscal period then ending. The internally prepared balance sheet for the Credit Parties Borrower and its Subsidiaries as of the June 25, 2010 Fiscal Month end is true dates and correct in all material respects and fairly represents for the information periods indicated therein applicable to the Borrowing Base Certificate except as otherwise set forth therein. As of the Credit Parties delivered to the Lender on July 9, 2010. The financial statements described in this Section 10.6 are collectively called the “Financial Statements”. The Credit Parties as dates of such dates did not have financial statements, neither the Borrower nor any significant liabilitiesSubsidiary had any material obligation, contingent or otherwiseliability, including liabilities liability for taxes or any unusual forward or long-term commitments lease obligation which were is not disclosed by reflected in such financial statements or reserved against in the Financial Statementsnotes thereto. Since December 31, and at the present time 2003, there are has been no material unrealized adverse change in the business, operations, property, assets or anticipated losses from any unfavorable commitments condition, financial or otherwise, of the Credit PartiesBorrower and its Subsidiaries taken as a whole.

Financial Statements and Condition. (a) The Borrower has ---------------------------------- furnished to each Lender copies of the audited consolidated balance sheets of Borrower as sheet of the Fiscal Year ended September Borrower and its consolidated Subsidiaries as at June 30, 20091998, and the related consolidated statements of operationincome, stockholders equity retained earnings and cash flows (including supporting footnote disclosures) flow for the Fiscal Years then endedfiscal year ending on such date, with the opinion thereon of EFP XxxxxxxxxErnst & Young LLP, all heretofore furnished to and the Lenderunaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at March 31, have been prepared 1999, and the related consolidated statements of income, retained earnings and cash flow of the Borrower and its consolidated Subsidiaries for the fiscal quarter ending on such date. All such financial statements (including in each case related schedules and notes) are complete and correct and present fairly, in accordance with GAAP consistently applied throughout the periods indicatedinvolved, are all true and correct in all material respects respects, the consolidated financial position of the Borrower and present fairly the financial condition of IEC and IECW&C its consolidated Subsidiaries as at the date of said financial statements their respective dates and the results of operations for the Fiscal Year then ended. The internally prepared balance sheet of GTC for the Fiscal Year-to-date and October, 2009 Fiscal Month end, and the related statements of operationcash flow for such periods (subject, stockholders equity as to interim statements, to changes resulting from audits and cash flows for the periods then ended, all heretofore furnished to the Lender, have been prepared in accordance with GAAP (absent footnote disclosures and customary normal year-end adjustments). Except as disclosed (i) consistently applied throughout in the periods indicatedBorrower's Annual Report on Form 10K for the year ended June 30, are all true 1998, (ii) in any other report filed by the Borrower with the Securities and correct Exchange Commission after June 30, 1998 but prior to the Fifth Amendment Date, (iii) in all any press release issued by the Borrower after June 30, 1998 but prior to the Fifth Amendment Date or (iv) in writing to the Agent by the Borrower prior to the Fifth Amendment Date, since June 30, 1998, there has been no material respects and present fairly adverse change in the financial condition condition, operations, or business of GTC at the date Borrower and its consolidated Subsidiaries taken as a whole. After giving effect to the transactions contemplated by the Transaction Documents (as defined in the Omnibus Agreement), each of said financial statements the Borrower and the results of GTC operations for the fiscal period then ending. The internally prepared balance sheet for the Credit Parties as of the June 25, 2010 Fiscal Month end Restricted Subsidiaries is true and correct in all material respects and fairly represents the information therein applicable to the Borrowing Base Certificate of the Credit Parties delivered to the Lender on July 9, 2010. The financial statements described in this Section 10.6 are collectively called the “Financial Statements”. The Credit Parties as of such dates did not have any significant liabilities, contingent or otherwise, including liabilities for taxes or any unusual forward or long-term commitments which were not disclosed by or reserved against in the Financial Statements, and at the present time there are no material unrealized or anticipated losses from any unfavorable commitments of the Credit PartiesSolvent.

Financial Statements and Condition. (a) The Borrower has heretofore furnished to each of the Banks audited Consolidated balance sheets of the Borrower and its Consolidated Subsidiaries as of December 31, 1996 and unaudited condensed Consolidated balance sheets of the Borrower and its Consolidated Subsidiaries as of June 30, 1997 and the related audited (or, in the case of the fiscal period ended June 30, 1997, unaudited condensed) Consolidated statements of income, Consolidated statements of stockholders' equity and Consolidated statements of cash flows for each of the fiscal periods then ended, together with related notes and supplemental information. The audited consolidated balance sheets sheet, statement of Borrower income, statement of stockholders' equity and statement of cash flows are referred to herein as the "Audited Financial Statements." The unaudited condensed consolidated balance sheet, statement of income, statement of stockholders' equity and statement of cash flows are referred to herein as the Fiscal Year ended September 30, 2009, "Unaudited Financial Statements." The Audited Financial Statements and the related statements of operation, stockholders equity and cash flows (including supporting footnote disclosures) for the Fiscal Years then ended, with the opinion of EFP Xxxxxxxxx, all heretofore furnished to the Lender, have been notes thereto were prepared in accordance with GAAP generally accepted accounting principles consistently applied throughout applied, and present fairly the Consolidated financial position and results of operations and cash flows of the Borrower and its Consolidated Subsidiaries as of the dates and for the periods indicated, and such balance sheets and related notes show all known direct liabilities and all known contingent liabilities of a material nature of the Borrower and its Consolidated Subsidiaries as of such dates which are all true and correct required to be included in all material respects and present fairly the financial condition of IEC and IECW&C at the date of said such financial statements and the notes thereto in accordance with generally accepted accounting principles. The Unaudited Financial Statements reflect all adjustments (consisting only of normal accounting adjustments) which in the opinion of management of the Borrower are necessary for a fair presentation of the financial position, results of operations for the Fiscal Year then ended. The internally prepared balance sheet of GTC for the Fiscal Year-to-date and October, 2009 Fiscal Month end, and the related statements of operation, stockholders equity and cash flows of the Borrower for the periods then ended, all heretofore furnished to the Lender, have been prepared in accordance with GAAP (absent footnote disclosures and customary year-end adjustments) consistently applied throughout the periods indicated, are all true and correct in all material respects and present fairly the financial condition of GTC at the date of said financial statements and the results of GTC operations for the fiscal period then ending. The internally prepared balance sheet for the Credit Parties as of the June 25, 2010 Fiscal Month end is true and correct in all material respects and fairly represents the information therein applicable to the Borrowing Base Certificate of the Credit Parties delivered to the Lender on July 9, 2010. The financial statements described in this Section 10.6 are collectively called the “Financial Statements”. The Credit Parties as of such dates did not have any significant liabilities, contingent or otherwise, including liabilities for taxes or any unusual forward or long-term commitments which were not disclosed by or reserved against in the Financial Statements, and at the present time there are no material unrealized or anticipated losses from any unfavorable commitments of the Credit Partiespresented.