Common use of Mercantile Financial Statements Clause in Contracts

Mercantile Financial Statements. The consolidated balance sheets ------------------------------- of Mercantile and its Subsidiaries as of December 31, 1997, 1996 and 1995 and related consolidated statements of income, changes in shareholders' equity and cash flows for each of the three years in the period ended December 31, 1997, together with the notes thereto, audited by KPMG Peat Marwick LLP, as filed with the SEC on Form 10-K for the year ended December 31, 1997 (collectively, the "Mercantile Financial Statements"), have been prepared in accordance with GAAP, present fairly the consolidated financial position of Mercantile and its Subsidiaries at the dates thereof and the consolidated results of operations, changes in shareholders' equity and cash flows of Mercantile and its Subsidiaries for the periods stated therein and are derived from the books and records of Mercantile and its Subsidiaries, which are complete and accurate in all material respects and have been maintained in accordance with good business practices. Neither Mercantile nor any of its Subsidiaries has any material contingent liabilities that are not described in the Mercantile Financial Statements.

Mercantile Financial Statements. The consolidated balance sheets ------------------------------- of Mercantile and its Subsidiaries as of December 31, 1997, 1996 and 1995 and related consolidated statements of income, changes in shareholders' equity and cash flows for each of the three years in the period ended December 31, 1997, together with the notes thereto, audited by KPMG Peat Marwick LLP, as filed with the SEC on Form 10-K for the year ended December 31, 1997 (collectively, the "Mercantile Financial Statements"), have been prepared in accordance with GAAP, present fairly the consolidated financial position of Mercantile and its Subsidiaries at the dates thereof and the consolidated results of operations, changes in shareholders' equity and cash flows of Mercantile and its Subsidiaries for the periods stated therein and are derived from the books and records of Mercantile and its Subsidiaries, which are complete and accurate in all material respects and have been maintained in accordance with good business practices. Neither Mercantile nor any of its Subsidiaries has any material contingent liabilities that are not described in the Mercantile Financial Statements.

Mercantile Financial Statements. The supplemental consolidated ------------------------------- balance sheets ------------------------------- of Mercantile and its Subsidiaries as of December 31, 19971996, 1996 and 1995 and 1994 and related supplemental consolidated statements of income, changes in shareholders' equity and cash flows for each of the three years in the period ended December 31, 19971996, together with the notes thereto, audited by KPMG Peat Marwick LLP, as filed with the SEC on Form 108-K for the year ended December 31dated May 13, 1997 (collectively, the "Mercantile Financial Statements"), have been prepared in accordance with GAAP, present fairly the consolidated financial position of Mercantile and its Subsidiaries at the dates thereof and the consolidated results of operations, changes in shareholders' equity and cash flows of Mercantile and its Subsidiaries for the periods stated therein and are derived from the books and records of Mercantile and its Subsidiaries, which are complete and accurate in all material financial respects and have been maintained in accordance with good business practices. Neither Mercantile nor any of its Subsidiaries has any material contingent liabilities that are not described in the Mercantile Financial Statements.

Mercantile Financial Statements. The supplemental ------------------------------- consolidated balance sheets ------------------------------- of Mercantile and its Subsidiaries as of December 31, 19971996, 1996 and 1995 and 1994 and related supplemental consolidated statements of income, changes in shareholders' equity and cash flows for each of the three years in the period ended December 31, 19971996, together with the notes thereto, audited by KPMG Peat Marwick LLP, as filed with the SEC on Form 108-K for the year ended December 31dated May 13, 1997 (collectively, the "Mercantile Financial Statements"), have been prepared in accordance with GAAP, present fairly the consolidated financial position of Mercantile and its Subsidiaries at the dates thereof and the consolidated results of operations, changes in shareholders' equity and cash flows of Mercantile and its Subsidiaries for the periods stated therein and are derived from the books and records of Mercantile and its Subsidiaries, which are complete and accurate in all material respects and have been maintained in accordance with good business practices. Neither Mercantile nor any of its Subsidiaries has any material contingent liabilities that are not described in the Mercantile Financial Statements.