No Material Undisclosed Liabilities. (a) There is no liability or obligation of the Company of any nature, whether absolute, accrued, contingent, or otherwise, in the amount of $5,000 or more individually, or $10,000 or more in the aggregate, other than: (i) the liabilities and obligations that are fully reflected, accrued or reserved against on the balance sheets of the Financial Statements, for which the reserves are appropriate and reasonable, or incurred in the ordinary course of business and consistent with past practices; (ii) the contractual obligations disclosed on Schedules 3.11; and (iii) the litigation and claims described on Schedule 3.7. (b) The Company is not signatory to, and is not in any manner a guarantor, endorser, assumptor or otherwise primarily or secondarily liable for or responsible for the payment of, any notes payable or other obligations other than those set forth in the Financial Statements.
Appears in 3 contracts
Samples: Series a Convertible Preferred Stock Purchase Agreement (Net Value Holdings Inc), Series a Convertible Preferred Stock Purchase Agreement (Net Value Holdings Inc), Preferred Stock Purchase Agreement (Net Value Holdings Inc)
No Material Undisclosed Liabilities. (a) There is no liability or obligation of the Company of any nature, whether absolute, accrued, contingent, or otherwise, in the amount of $5,000 or more individually, or $10,000 or more in the aggregate, other than:
(i) the liabilities and obligations that are fully reflected, accrued or reserved against on the balance sheets of the Financial Statements, for which the reserves are appropriate and reasonable, or incurred in the ordinary course of business and consistent with past practices;
(ii) the contractual obligations disclosed on Schedules 3.113.10; and
(iii) the litigation liabilities and claims described obligations disclosed on Schedule 3.73.27.
(b) The Company is not signatory to, and is not in any manner a guarantor, endorser, assumptor or otherwise primarily or secondarily liable for or responsible for the payment of, any notes payable or other obligations other than those set forth in the Financial Statements.
Appears in 1 contract
Samples: Series a Convertible Preferred Stock Purchase Agreement (Net Value Holdings Inc)