Review of Financial Condition Sample Clauses

Review of Financial Condition. Guarantor hereby consents and agrees that Lender shall be permitted at any time and from time to time to review and/or confirm the financial condition of Guarantor, including ordering and reviewing credit reports from a nationally recognized credit agency.
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Review of Financial Condition. Prior to the signing of this Agreement, Willow Valley will review the financial condition of Resident to ensure that Resident meets the financial requirements for entrance established by Willow Valley. Willow Valley reserves the right to conduct a periodic review of Resident’s financial condition.
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Review of Financial Condition. Pledgor hereby consents and agrees that Lender shall be permitted at any time and from time to time to review and/or confirm the financial condition of Pledgor, including ordering and reviewing credit reports from a nationally recognized credit agency.
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Review of Financial Condition. Borrower hereby consents and agrees that Lender, upon twenty four (24) hours prior notice to Borrower, shall be permitted at any time and from time to time to review and/or confirm, in a commercially reasonable manner, the financial condition of Borrower and Guarantor and any other obligor under the Loan Documents, including ordering and reviewing credit reports from a nationally recognized credit agency.
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Review of Financial Condition. The undersigned has reviewed the terms of the Agreement, including, without limitation, the representations and warranties of the Borrower and its Subsidiaries set forth in Article IV thereof and the covenants of the Borrower and its Subsidiaries set forth in Article V thereof, and has made, or caused to be made under his or her supervision, a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the Reporting Periods. The Financial Statements accurately present the financial position of the Borrower and its Subsidiaries as of the date thereof and for the Reporting Periods covered thereby.
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Review of Financial Condition. Prior to the date of entry into a Resident's Living Accommodation, Resident shall have a final review with the Community administrator or other authorized person to review the financial condition of Resident and to ensure that no adverse changes in the financial condition of Resident have occurred subsequent to the execution of the application form or financial statement submitted which may render Resident unable to meet the conditions of entrance established, from time to time, by the Community. In the event Resident is unable to meet these financial conditions, the Community may, at its sole discretion, terminate this Agreement prior to Resident's occupancy in which event Resident will receive a refund of all amounts paid in accordance with the provisions of this Agreement. Resident will complete a financial condition statement and submit to Community such financial condition statement and all other financial information reasonably requested for review by Community on an annual basis. Community may terminate this agreement if Resident fails, neglects or refuses to comply with this request for continuing financial information.
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Review of Financial Condition. Following the CADRI sale, the Company ceased to carry on an active business and no longer generates any operating revenue. The Company's operating expenses are limited to corporate costs, classified as administration expenses for financial statement purposes, in connection with the ongoing administration of the Company, including audit and review fees, professional fees, legal fees, as well as other costs directly associated with the operation and maintenance of a publicly traded company. The Company's net loss of $706,456 for the twelve months ended December 31, 2012, represents cost of goods sold of $200,000 plus corporate costs of $598,795 less net finance income of $71,400 and tax recovery of $20,939. The following table provides a breakdown of the Company's corporate costs included in general and administrative expense in the Consolidated Statements of Comprehensive Loss for the three and twelve month periods ended December 31, 2012, with comparative figures for 2011. Corporate Costs Q4 - Three Months YTD - Twelve Months (In 000's) 2012 2011 2012 2011 Salaries - - - 609 Service agreement 45 44 180 44 Insurance 17 20 71 76 Legal 25 260 88 376 Accounting, audit and tax 37 (3) 84 719 Board of directors 26 - 74 - Misc. 57 43 96 317 207 370 599 2,215 Q4 - 2012 Q3 - 2012 Q2 - 2012 Q1 - 2012 Q4 - 2011 Q3 - 2011 Q2 - 2011 Q1 - 2011 Sales Earnings (loss) from $ - $ - $ - $ - $ - $ 8,634 $ 10,094 $ 12,180 operating activities $ Earnings (loss) $ Earnings (loss per share (207) $ (192) $ (278) $ (248) $ (161) $ (135) $ (154) $ (131) $ (464) (352) $ (13,611) $ $ (13,587) $ (386) $ (581) $ 223 202 Basic and diluted $ Earnings (loss) per share from operations Basic and diluted $ (0.01) $ (0.01) $ (0.02) $ (0.02) $ (0.01) $ (0.01) $ (0.01) $ (0.01) $ (0.02) $ (0.02) $ (0.89) $ (0.89) $ (0.04) $ (0.04) $ 0.01
Sample 1
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Review of Financial Condition. The undersigned have reviewed the terms of the Guaranty, including, without limitation, the representations and warranties set forth in Article V thereof and the covenants set forth in Article VI and VII thereof, and have made, or caused to be made under their supervision, a review in reasonable detail of the transactions and condition of the Company, the REIT, and their respective Subsidiaries during the Reporting
Sample 1
Review of Financial Condition. The undersigned has reviewed the terms of the Amended and Restated Credit Agreement, including, without limitation, the representations and warranties set forth in Article V thereof and the covenants set forth in Article VI and VII thereof, and has made, or caused to be made under his or her supervision, a review in reasonable detail of the transactions and condition of the Company, the REIT, and their respective Subsidiaries during the reporting periods (the "Reporting Periods") covered by the financial statements being delivered concurrently to the Bank pursuant to the Section 6.01 of the Amended and Restated Credit Agreement (the "Financial Statements"). The Financial Statements accurately present the financial position of the Company, the REIT, and their respective Subsidiaries as of the date thereof and for the Reporting Periods covered thereby.
Sample 1

Related to Review of Financial Condition

  • Financial Condition (a) The unaudited pro forma consolidated balance sheet of Holdings and its consolidated Subsidiaries as at September 30, 2012 (the “Pro Forma Balance Sheet”), copies of which have heretofore been furnished to each Lender, has been prepared giving effect (as if such events had occurred on such date) to (i) the consummation of the Transactions, (ii) the Loans to be made on the Closing Date and the use of proceeds permitted under Section 8.15 thereof and (iii) the payment of fees and expenses on the Closing Date in connection with the foregoing. The Pro Forma Balance Sheet has been prepared based on the best information available to the Borrower as of the date of delivery thereof, and presents fairly in all material respects on a pro forma basis the estimated financial position of Holdings and its consolidated Subsidiaries as at September 30, 2012 assuming that the events specified in the preceding sentence had actually occurred at such date. (b) The audited consolidated balance sheets of the Borrower and its Subsidiaries as at December 31, 2011, and the related consolidated statements of income, stockholders’ equity and cash flows for the fiscal years ended on December 31, 2011, reported on by and accompanied by an unqualified report as to going concern or scope of audit from Ernst & Young, LLP, present fairly in all material respects the consolidated financial condition of the Borrower and its Restricted Subsidiaries as at such date, and the consolidated results of its operations and its consolidated cash flows for the respective fiscal years then ended. All such financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No Group Member has, as of the Closing Date after giving effect to the Transactions and excluding obligations under the Loan Documents, any material Guarantee Obligations, contingent liabilities, or any long term leases or unusual forward or long term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives, which are required in conformity with GAAP to be disclosed therein and which are not reflected in the most recent financial statements referred to in this paragraph.

  • Financial Conditions (a) The Recipient shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Recipient responsible for carrying out the Project or any part thereof. (b) The Recipient shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Bank; (ii) furnish to the Bank as soon as available, but in any case not later than six months after the end of each such year, the report of such audit by said auditors, of such scope and in such detail as the Bank shall have reasonably requested; and (iii) furnish to the Bank such other information concerning said records and accounts and the audit thereof as the Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the GEF Trust Fund Grant Account were made on the basis of statements of expenditure, the Recipient shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Bank has received the audit report for the fiscal year in which the last withdrawal from the GEF Trust Fund Grant Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Bank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

  • Investigation of Financial Condition Without in any manner reducing or otherwise mitigating the representations contained herein, Company shall have the opportunity to meet with Buyer's accountants and attorneys to discuss the financial condition of Buyer. Buyer shall make available to Company all books and records of Buyer.

  • Financial Condition of Company Any Credit Extension may be made to Company or continued from time to time, and any Hedge Agreements may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless of the financial or other condition of Company at the time of any such grant or continuation or at the time such Hedge Agreement is entered into, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor's assessment, of the financial condition of Company. Each Guarantor has adequate means to obtain information from Company on a continuing basis concerning the financial condition of Company and its ability to perform its obligations under the Credit Documents and the Hedge Agreements, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Company and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Company now known or hereafter known by any Beneficiary.

  • Financial Condition; Financial Statements (a) The unaudited historical consolidated financial information of the Borrower as set forth in the Confidential Information Memorandum, and (b) the Historical Financial Statements, in each case present fairly in all material respects the consolidated financial position of the Borrower at the respective dates of said information, statements and results of operations for the respective periods covered thereby. The unaudited pro forma consolidated balance sheet of the Borrower and its Subsidiaries as at June 30, 2007 (including the notes thereto) (the “Pro Forma Balance Sheet”) and the unaudited pro forma consolidated statement of operations of the Borrower and its Subsidiaries for the 12-month period ending on such date (together with the Pro Forma Balance Sheet, the “Pro Forma Financial Statements”), copies of which have heretofore been furnished to the Administrative Agent, have been prepared based on (x) the Historical Financial Statements and (y) the unaudited historical consolidated financial information described in clause (a) of this Section 8.9 and have been prepared in good faith, based on assumptions believed by the Borrower to be reasonable as of the date of delivery thereof, and present fairly in all material respects on a Pro Forma Basis the estimated financial position of the Borrower and its Subsidiaries as at June 30, 2007 and their estimated results of operations for the period covered thereby. The financial statements referred to in clause (b) of this Section 8.9 have been prepared in accordance with GAAP consistently applied except to the extent provided in the notes to said financial statements. After the Original Closing Date, there has been no Material Adverse Effect.

  • Financial Statements; Financial Condition All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to Bank.

  • Solvent Financial Condition Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.

  • Financial Condition of the Borrower The Loans may be made to the Borrower without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower at the time of such grant. Each Guarantor has adequate means to obtain information from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.

  • Special Condition With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“Disabling Conduct”).

  • Financial Condition Covenant Permit the Asset Coverage Ratio to be less than the Minimum Permitted Ratio; or in each case allow Indebtedness of the Borrower to exceed the limits set forth in the Borrower’s Prospectus or registration statement or allow Indebtedness to exceed the requirements of the 1940 Act.

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