TRANSFEROR'S FINANCIAL ASSURANCES Clause Samples

TRANSFEROR'S FINANCIAL ASSURANCES. As an inducement to the District to waive any requirement for Transferor to place monies or other security in escrow to guarantee such Transferor's Remediation obligations as set forth in SECTION 7.7.2(C), USSC and FCC have furnished, as of the Execution Date, either certified audited financial statements or certified statements from their respective independent, certified public accountant confirming a minimum net worth of each of USSC and FCC (the "Financial Information"). The Financial Information shall be as of the end of the most recent fiscal year of such entity and shall be updated by such entity promptly upon the occurrence of any material adverse change in the net worth of such entity.