Common use of Repetition of representations and warranties Clause in Contracts

Repetition of representations and warranties. On and as of the date of each Advance and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date the Borrower shall (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and (b) be deemed to further represent and warrant to the Finance Parties that the then latest audited financial statements delivered to the Finance Parties have been prepared in accordance with GAAP which have been consistently applied and present fairly and accurately the financial position of each of the Borrower and the Owners as at the end of the financial period to which the same relate and the results of the operations of each of the Borrower and the Owners for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 3 contracts

Samples: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.), Facility Agreement (Aries Maritime Transport LTD)

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Repetition of representations and warranties. 7.3.1 On and as of the date of each Advance and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date the Borrower shall (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that the representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks Bank under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and (b) be deemed to further represent and warrant to the Finance Parties Bank that the then latest audited financial statements delivered to the Finance Parties Bank (if any) have been prepared in accordance with GAAP which have been consistently applied and present fairly and accurately the financial position of each the Borrower and the consolidated financial position of the Borrower and the Owners its Related Companies as at the end of the financial period to which the same relate and the results of the operations of each the Borrower and the consolidated results of the operations of the Borrower and the Owners its Related Companies respectively for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner of its Related Companies had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.. 8

Appears in 1 contract

Samples: Facilities Agreement (Top Tankers Inc.)

Repetition of representations and warranties. On and as of the date of each Advance Drawdown Date and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date the Borrower shall (a) shall: 7.3.1 be deemed to repeat the representations and warranties in clauses 7.1 (and so that the representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements Audited Financial Statements delivered to the Banks Bank under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and (b) day; and 7.3.2 be deemed to further represent and warrant to the Finance Parties Bank that the then latest audited financial statements Audited Financial Statements delivered to the Finance Parties Bank (if any) have been prepared in accordance with GAAP which have been consistently applied and present fairly and accurately the financial position of each of the Borrower and the Owners Corporate Guarantor as at the end of the financial period to which the same relate and the results of the operations of each of the Borrower and the Owners Corporate Guarantor for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner the Corporate Guarantor had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Repetition of representations and warranties. On and as of the date of each Advance this Agreement, the Drawdown Date and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date the Borrower shall (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and (b) be deemed to further represent and warrant to the Finance Parties that the then latest audited financial statements delivered to the Finance Parties have been prepared in accordance with GAAP which have been consistently applied and present fairly and accurately the financial position of each of the Borrower and the Owners as at the end of the financial period to which the same relate and the results of the operations of each of the Borrower and the Owners for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 1 contract

Samples: Facility Agreement (Aries Maritime Transport LTD)

Repetition of representations and warranties. On and as of the date of each Advance Drawdown Date and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date Date, the Borrower shall Borrowers shall: (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks under clause 8.1) and 7.2 (except that the representation of clause 7.2.19 shall not be deemed repeated at any time after the date of this Agreement and that the other representations of clause 7.2 shall not be deemed repeated on the Interest Payment Dates) as if made with reference to the facts and circumstances existing on such day and day; and (b) be deemed to further represent and warrant to each of the Finance Parties Creditors that the then latest audited financial statements delivered to the Finance Parties Agent by the Borrowers (if any) have been prepared in accordance with GAAP the Applicable Accounting Principles which have been consistently applied and present fairly and accurately the combined financial position of each of the Borrower and the Owners Borrowers as at the end of the financial period to which the same relate and the combined results of the operations of each of the Borrower and the Owners Borrowers for the financial period to which the same relate and, as at the end of such financial period, neither of the Borrower nor any Owner Borrowers had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

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Repetition of representations and warranties. On and as of the date of each Advance the Drawdown Date of the Facility and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date the Borrower shall (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and (b) be deemed to further represent and warrant to the Finance Parties that the then latest audited financial statements delivered to the Finance Parties have been prepared in accordance with GAAP which have been consistently applied and present fairly and accurately the financial position of each of the Borrower and the Owners as at the end of the financial period to which the same relate and the results of the operations of each of the Borrower and the Owners for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 1 contract

Samples: Junior Secured Loan Agreement (Omega Navigation Enterprises, Inc.)

Repetition of representations and warranties. On and as of the date of each Advance Drawdown Date and (except in relation to the representations and warranties in clause 7.2) on each Interest Payment Date and on the Sixth Effective Date, the Borrower shall shall: (a) be deemed to repeat the representations and warranties in clauses 7.1 (and so that representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest audited financial statements delivered to the Banks under clause 8.1) and 7.2 as if made with reference to the facts and circumstances existing on such day and day; and (b) be deemed to further represent and warrant to the Finance Parties Bank that the then latest audited financial statements delivered to the Finance Parties Bank under clause 8.1.5 (if any) have been prepared in accordance with GAAP the Applicable Accounting Principles and practices which have been consistently applied and present fairly and accurately the consolidated financial position of each of the Borrower and the Owners Group as at the end of the financial period to which the same relate and the consolidated results of the operations of each of the Borrower and the Owners Group for the financial period to which the same relate and, as at the end of such financial period, neither the Borrower nor any Owner other member of the Group had any significant liabilities (contingent or otherwise) or any unrealised or anticipated losses which are not disclosed by, or reserved against or provided for in, such financial statements.

Appears in 1 contract

Samples: Facility Agreement (Freeseas Inc.)

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