Prior Financials. Any and all balance sheets and income statements of Borrower delivered to Lender prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of Borrower or such constituent shareholders, partners or members, at such date and the results of its operations and its cash flows, for the period then ended.
Prior Financials. The Consolidated and Combined Balance Sheet as of June 30, 2004, the Consolidated and Combined Statement of Operations for the Quarter Ended June 30, 2004, and the Consolidated and Combined Statement of Cash Flows for the Quarter Ended June 30, 2004 of the REIT contained in the Form 10-Q Quarterly Report of the REIT as of June 30, 2004 (the "Pre-Closing Financials") delivered to Agent prior to the date hereof were prepared in accordance with GAAP in effect on the date such Pre-Closing Financials were prepared and fairly present the assets, liabilities and financial condition of the REIT, on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. Any and all balance sheets and income statements of Borrower delivered to Administrative Agent prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of Borrower or such constituent shareholders, partners or members, at such date and the results of its operations and its cash flows, for the period then ended. Notwithstanding the use of GAAP, the calculation of liabilities shall not include any fair value adjustments to the carrying value of liabilities to record such liabilities at fair value pursuant to electing the fair value option election under FASB ASC 000-00-00 (formerly known as FAS 159, The Fair Value Option for Financial Assets and Financial Liabilities) or other FASB standards allowing entities to elect fair value option for financial liabilities. Therefore, the amount of liabilities shall be the historical cost basis, which generally is the contractual amount owed adjusted for amortization or accretion of any premium or discount.
Prior Financials. The December 31, 2001 Consolidated Balance Sheet, Statement of operations and Statement of Cash Flows of (i) the REIT contained in the REIT's Form 10K and (ii) the Borrower contained in the Borrower's Form 10K (the "December 31, 2001 Financials") delivered to Agent prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of the REIT on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. The Consolidated and Combined Balance Sheet as of December 31, 1997, the Consolidated and Combined Statement of Operations for the Year Ended December 31, 1997, and the Consolidated and Combined Statement of Cash Flows for the Year Ended December 31, 1997 of the REIT contained in the Form 10-K Annual Report of the REIT as of December 31, 1997 (the "Pre-Closing Financials") delivered to Agent prior to the date hereof were prepared in accordance with GAAP in effect on the date such Pre-Closing Financials were prepared and fairly present the assets, liabilities and financial condition of the REIT, on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. The Consolidated Balance Sheet, Statement of operations and Statement of Cash Flows of (i) the REIT contained in the REIT's Form 10K for the period ending December 31, 1997 and in the REIT's Form 10Q for the period ending June 30, 1998 and (ii) the Borrower contained in the Borrower's Form 10K for the period ending December 31, 1997 and in the Borrower's Form 10Q for the period ending June 30, 1998 (the APRIOR FINANCIALS") delivered to Agent prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of the REIT on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. The September 30, 1997 Consolidated Balance Sheet, Statement of Operations and Statement of Cash Flows of Borrower contained in Borrower's Form 10Q for the quarter ended September 30, 1997 (the "September 30, 1997 Financials") delivered to Agent prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of Borrower on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. The March 31, 1996 Consolidated Balance Sheet, Statement of Operations and Statement of Cash Flows of the REIT contained in the REIT's Form 10Q (the "March 31, 1996 Financials") delivered to Agent prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of the REIT on a consolidated basis, at such date and the results of its operations and its cash flows, on a consolidated basis, for the period then ended.
Prior Financials. Any and all balance sheets and income statements of Borrower and Senior Borrower delivered to Lender prior to the date hereof were prepared in accordance with GAAP and fairly present the assets, liabilities and financial condition of Borrower and Senior Borrower or such constituent shareholders, partners or members, at such date and the results of its operations and its cash flows, for the period then ended. Notwithstanding the use of GAAP, the calculation of liabilities shall not include any fair value adjustments to the carrying value of liabilities to record such liabilities at fair value pursuant to electing the fair value option election under FASB ASC 000-00-00 (formerly known as FAS 159, The Fair Value Option for Financial Assets and Financial Liabilities) or other FASB standards allowing entities to elect fair value option for financial liabilities. Therefore, the amount of liabilities shall be the historical cost basis, which generally is the contractual amount owed adjusted for amortization or accretion of any premium or discount.
Prior Financials. The Financial Statements of the REIT ---------------- showing the REIT's and the Borrower's financial condition as of March 31, 1994, adjusted for the effects of the Borrower's initial public offering and the Private Placement delivered to the Administrative Agent prior to the date hereof, were prepared in accordance with GAAP and fairly present the results of its operations and its cash flows, on a consolidated basis, for the periods indicated therein.
