Common use of Historical Financials Clause in Contracts

Historical Financials. The Loan Parties have heretofore furnished to the Lenders (i) the consolidated balance sheet and statements of income, partners equity and cash flows for Edgen/Murray, L.P. as of and for the fiscal year ended December 31, 2006, reported on by Deloitte & Touche LLP, independent public accountants, (ii) the unaudited consolidated balance sheet and statements of operations, stockholders equity and cash flows for the US Borrower as of and for the fiscal quarter and the portion of the fiscal year ended March 31, 2007, (iii) the unaudited consolidated balance sheet and statements of operations, stockholders equity and cash flows for the UK Borrower as of and for the fiscal quarter and the portion of the fiscal year ended March 31, 2007 and (iv) the combined balance sheet and statements of operations, stockholders equity and cash flows for Petro Steel International, L.P. and Petro Steel International, LLC as of and for the fiscal year ended December 31, 2006, reported on by Gocial Gerstein, LLC, independent public accountants. Such financial statements present fairly, in all material respects, the financial position and consolidated results of operations and cash flows of Edgen Murray, L.P., the US Borrower or the UK Borrower and their respective Subsidiaries and the combined financial position and results of operations of Petro Steel International, L.P. and Petro Steel International, LLC, each as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in each clause (ii) and (iii) above.