Common use of No Material Deterioration in Financial Condition; Financial Statements Clause in Contracts

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 60 contracts

Samples: Loan and Security Agreement (Impel Neuropharma Inc), Loan and Security Agreement (89bio, Inc.), Loan and Security Agreement (Equillium, Inc.)

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No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its SubsidiariesSubsidiaries as of the dates and for the periods presented. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 7 contracts

Samples: Loan and Security Agreement (Reata Pharmaceuticals Inc), Loan and Security Agreement (Reata Pharmaceuticals Inc), Loan and Security Agreement (Regulus Therapeutics Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 6 contracts

Samples: Loan and Security Agreement (Agile Therapeutics Inc), Loan and Security Agreement (Acceleron Pharma Inc), Loan and Security Agreement (Acceleron Pharma Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiariesoperations. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements and projections submitted to any LenderAgent.

Appears in 5 contracts

Samples: Loan and Security Agreement (Regado Biosciences Inc), Loan and Security Agreement (Regado Biosciences Inc), Loan and Security Agreement (AxoGen, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 4 contracts

Samples: Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, as applicable, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 3 contracts

Samples: Loan and Security Agreement (Sutro Biopharma, Inc.), Loan and Security Agreement (Sutro Biopharma Inc), Loan and Security Agreement (Sutro Biopharma Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, any of Borrower’s Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects respects, as of the dates and time periods represented therein, Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiariesoperations. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderCollateral Agent.

Appears in 3 contracts

Samples: Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations operations. As of Borrower and its Subsidiaries. There the Effective Date, there has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderAgent.

Appears in 2 contracts

Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.of

Appears in 2 contracts

Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAPIFRS, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Centogene N.V.), Loan and Security Agreement (4D Pharma PLC)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hansen Medical Inc), Loan and Security Agreement (Hansen Medical Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations on the dates of Borrower and its Subsidiariessuch statements or for the periods then ended. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderCollateral Agent.

Appears in 2 contracts

Samples: Loan and Security Agreement (PTC Therapeutics, Inc.), Loan and Security Agreement (PTC Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower Parent and its Subsidiaries, and the consolidated results of operations of Borrower Parent and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower Parent and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Durata Therapeutics, Inc.), Loan and Security Agreement (Durata Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its SubsidiariesSubsidiaries as of the dates and for the periods set forth therein, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been a Material Adverse Change nor any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries event or circumstance since the date of the most recent financial statements submitted December 31, 2021 that could reasonably be expected to any Lenderhave a Material Adverse Change.

Appears in 2 contracts

Samples: Loan and Security Agreement (Pliant Therapeutics, Inc.), Loan and Security Agreement (Pliant Therapeutics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent Lenders fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderLenders.

Appears in 2 contracts

Samples: Loan and Security Agreement (Anacor Pharmaceuticals, Inc.), Loan and Security Agreement (Anacor Pharmaceuticals Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for each Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of such Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower Borrowers and its their Subsidiaries. There has not been any material deterioration in the consolidated financial condition of a Borrower and or its Subsidiaries since the date of the most recent financial statements submitted to any LenderCollateral Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Ligand Pharmaceuticals Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderLender that has had or could reasonably be expected to have a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Evolus, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There As of the Effective Date, there has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Lexicon Pharmaceuticals, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.the

Appears in 1 contract

Samples: Loan and Security Agreement (Kura Oncology, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAPGAAP (subject to fiscal quarter end and fiscal year end adjustments), in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Acelrx Pharmaceuticals Inc)

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No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Neuronetics, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiariesoperations. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderSEC Reports.

Appears in 1 contract

Samples: Loan and Security Agreement (Alimera Sciences Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiariesoperations. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderMarch 31, 2012.

Appears in 1 contract

Samples: Loan and Security Agreement (Tribute Pharmaceuticals Canada Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the the 7. consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Organovo Holdings, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and or its Subsidiaries since the date of the most recent financial statements submitted to any LenderCollateral Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Medicinova Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderCollateral Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Angie's List, Inc.)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries, subject only to normal year end adjustments and the absence of footnotes. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Pulmonx Corp)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations as of Borrower and its Subsidiariesthe date of such financial statements. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements and projections submitted to any LenderAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Kalobios Pharmaceuticals Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, Subsidiaries and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any LenderLenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Tetraphase Pharmaceuticals Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Borrower’s Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Hansen Medical Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its SubsidiariesSubsidiaries as at their dates, and the consolidated results of operations of Borrower and its SubsidiariesSubsidiaries for the periods covered thereby. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Silk Road Medical Inc)

No Material Deterioration in Financial Condition; Financial Statements. All consolidated financial statements for Borrower and any of its Subsidiaries, Subsidiaries delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the Borrower’s consolidated financial condition of Borrower and its Subsidiaries, and the Borrower’s consolidated results of operations of Borrower and its Subsidiariesoperations. There has not been any material deterioration in the Borrower’s consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent unaudited financial statements and Borrower’s most recent projections submitted to any LenderAgent and the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Celldex Therapeutics, Inc.)

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