Common use of Undisclosed Liabilities; Adverse Changes Clause in Contracts

Undisclosed Liabilities; Adverse Changes. Neither Borrower nor any Subsidiary has any material liabilities or obligations of any nature (whether absolute, accrued, contingent or otherwise), except for liabilities or obligations reflected or reserved against in its respective most recent quarterly financial statements and current liabilities incurred in the ordinary course of business since the respective dates thereof. Since the date of the latest consolidated quarterly financial statements of Borrower and its Subsidiaries, there has not been any change in the business, operations, properties, prospects, assets or condition of Borrower or any Subsidiary, and, no event has occurred or circumstance exists, that has had or would reasonably be expected to have a Material Adverse Effect.

Appears in 3 contracts

Samples: Confidentiality Agreement (First Colebrook Bancorp, Inc.), Subordinated Loan Agreement (SBT Bancorp, Inc.), Subordinated Loan Agreement (Pathfinder Bancorp, Inc.)

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Undisclosed Liabilities; Adverse Changes. Neither Borrower nor any Subsidiary has any material liabilities or obligations of any nature (whether absolute, accrued, contingent or otherwise), except for liabilities or obligations reflected or reserved against in its respective most recent quarterly financial statements Financial Statements and current liabilities incurred in the ordinary course of business since the respective dates thereof. Since the date of the latest consolidated quarterly financial statements Financial Statements of Borrower and its Subsidiaries, there has not been any change in the business, operations, properties, prospects, assets or condition of Borrower or any Subsidiary, and, no event has occurred or circumstance exists, that has had or would reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Samples: Subordinated Loan Agreement, Subordinated Loan Agreement (First National Corp /Va/)

Undisclosed Liabilities; Adverse Changes. Neither Borrower Issuer nor any Subsidiary has any material liabilities or obligations of any nature (whether absolute, accrued, contingent or otherwise), except for liabilities or obligations reflected or reserved against in its respective most recent quarterly financial statements and current liabilities incurred in the ordinary course of business since the respective dates thereof. Since the date of the latest consolidated quarterly financial statements of Borrower Issuer and its Subsidiaries, there has not been any change in the business, operations, properties, prospects, assets or condition of Borrower Issuer or any Subsidiary, and, no event has occurred or circumstance exists, that has had or would reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Form of Stock Purchase Agreement (Blue Ridge Bankshares, Inc.)

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Undisclosed Liabilities; Adverse Changes. Neither Borrower nor any Subsidiary has any material liabilities or obligations of any nature (whether absolute, accrued, contingent or otherwise), except for liabilities or obligations reflected or reserved against in its respective most recent quarterly financial statements and current liabilities incurred in the ordinary course of business since the respective dates thereof. Since the date of the latest consolidated quarterly financial statements of Borrower and its Subsidiaries, there has not been any material change in the business, operations, properties, prospects, assets or condition of Borrower or any Subsidiary, and, no event has occurred or circumstance exists, that has had or would reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Subordinated Loan Agreement (FS Bancorp, Inc.)

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