Obligor Financial Statements definition

Obligor Financial Statements. The meaning specified in clause (f) of the definition of Value Adjustment Event.

Obligor Financial Statements means the balance sheets and related statements of income prepared in good faith by or for the Obligor and in accordance with the requirements, if any, of the Related Documents. For purposes of determining the Cash Flow Ratio and Collateral Coverage Ratio, the financial statements reflecting the most recently-available fiscal year’s results will be used, provided that if such financial statements reflect a period ended more than nine months earlier, an interim statement covering at least two quarters’ results shall be used.

Obligor Financial Statements means the balance sheets and related statements of income and retained earnings prepared in accordance with U.S. GAAP which shall be prepared by an accounting service or by in-house accounting personnel acceptable to NCB. For purposes of determining the Cash Flow Ratio, Collateral Coverage Ratio and Leverage Ratio, the financial statements reflecting the most recently-available fiscal year's results will be used, provided that if such financial statements reflect a period ended more than nine months earlier, an interim statement covering at least two quarters' results shall be used.

Examples of Obligor Financial Statements in a sentence

• As of the dates of the Obligor Financial Statements (respectively), and except as otherwise reflected therein or in any footnotes thereto, no such Obligor had any material Indebtedness or other material liabilities or obligations (whether accrued, absolute, contingent or otherwise, whether due or to become due, including, without limitation, liabilities or obligations on account of taxes or other Governmental Charges).

• The notes to such Obligor Financial Statements do not contain any misstatement of a material fact, nor do they omit to state a material fact required to make any statement contained therein true.

• Since the respective date(s) of the (i) most recent financial statements filed as part of the Vystar SEC Documents, and (ii) Obligor Financial Statements, there has been no: (A) event or circumstance of any nature whatsoever that has resulted in, or could reasonably be expected to result in, a Material Adverse Change; or (B) transaction, event, action, development, payment or any other matter of any nature whatsoever entered into by Borrower other than in the ordinary course of business.

More Definitions of Obligor Financial Statements

Obligor Financial Statements has the meaning given to such term in Section 5.21.3.

Obligor Financial Statements means the audited Balance Sheet and Income Statement for Obligor for the year ended December 31, 1997 as of such date and Obligor's unaudited Balance Sheet (with full notes) as of April 30, 1998 and unaudited internal B11 Income Statement for the four month period of January 1, 1998 to April 30, 1998, copies of which are attached hereto as Exhibit B.