Common use of Financial Statements; Material Adverse Change; Projections Clause in Contracts

Financial Statements; Material Adverse Change; Projections. Except as disclosed in writing by Borrower to Lender, all financial data and other information furnished by Borrower to Lender, will be taken from the books and records of Borrower and are true, accurate and correct in all material respects. The Financials fairly present the assets, liabilities and financial condition and results of operations of Borrower described therein as of the dates thereof and were prepared on a basis consistent with the preparation of the Borrower’s financial statements for prior periods; there are no omissions or other facts or circumstances which are or may be material as of the date of the Financials, and there has been no material and adverse change in the Collateral, assets, liabilities or financial condition of Borrower since the date of the Financials; there exist no outstanding advances to any Person not reflected in the Financials; except as set forth in the Financials, there are no actions or proceedings which are pending, or, to the best of Borrower's knowledge, threatened against Borrower; to the best of Borrower’s knowledge, there are no actions or proceedings which are pending or threatened against any other Person which might result in any material adverse change in Borrower’s financial condition or materially and adversely affect its operations, its assets or the Collateral; except as stated in the Financials Borrower has no other liabilities and has not guaranteed the obligations of any other Person. Any financial projections delivered to Lender by or on behalf of Borrower were, at the time of delivery to Lender, reasonable forecasts based upon good business judgment and all facts and information known to Borrower and its consultants.