Financing and working capital Clause Samples

Financing and working capital. 14.1 The amount borrowed by the Company from its bankers does not exceed the amount of the facility agreed with such bankers and the total amount borrowed by the Company from whatever source does not exceed any limitation on its borrowing contained in its articles of association or in any Contract, debenture, loan stock deed or any other document. 14.2 All material particulars of all overdrafts, loans or other financial facilities outstanding or available to the Company are set out in the Disclosure Letter. 14.3 The Company has not applied for or received any grant, subsidy or financial assistance from any government department or other body which is subject to any continuing right of claw back. All material particulars of any such grant, subsidiary or financial assistance are contained in the Disclosure Letter.

Financing and working capital. 20.1 The amount borrowed by the Company from its bankers as at the date of this Agreement does not exceed the amount of the facility agreed with such bankers and the total amount borrowed by the Company from whatever external Third Party source does not exceed any limitation on its borrowing contained in its articles of association. 20.2 Details of all overdrafts, loans or other financial facilities outstanding or available to the Company are contained in the Data Room Information and copies of all documents relating to those facilities are included in the Data Room Information. So far as the Seller is aware, no person who provides any of those facilities has given any written indication that the Company is in breach or that such facilities may be withdrawn or their terms altered. 20.3 The Company has not applied for or received any grant, subsidy or financial assistance from any government department or other body.

Financing and working capital. 31.1 No Group Member has procured or engaged (directly or indirectly) in any borrowing or financing not required to be reflected in its statutory accounts. 31.2 All material details of all overdrafts, loans or other financial facilities outstanding or available to each Group Member are set out in the Disclosure Documents and copies of all documents relating to those facilities are included in the Disclosure Documents. 31.3 No person has given any guarantee of or security for any overdraft, loan, other financial facility granted to any Group Member or other liability of any Group Member. 31.4 No Group Member has applied for or received any grant, subsidy or financial assistance from any government department or other body.

Financing and working capital. 22.1 No indebtedness of any Group Member is due and payable and no security over any of the assets of any Group Member is now enforceable. No Group Member has received notice (whether formal or informal) from a lender of money, requiring repayment or intimating the enforcement of a security; and so far as each Share Seller is aware there is nothing which will give rise to such a notice. 22.2 No person (other than a Group Member) has given any guarantee of or security for any overdraft, loan, other financial facility granted to any Group Member or other liability of any Group Member. 22.3 No Group Member has applied for or received any grant, subsidy or financial assistance from any government department or other body. No Group Member has done or omitted to do anything which could and the sale of the Company will not result in all or part of a grant, subsidy or other similar payments made or due to be made to it becoming repayable, or being forfeited or withheld. 22.4 The total amount borrowed by each Group Member (as determined in accordance with the relevant instrument) does not exceed any limitation on its borrowing powers contained in its articles of association or other documents.

Financing and working capital. 16.1 Full and accurate details of all overdrafts, loans or other financial facilities outstanding or available to the Company are contained in the Disclosure Letter, and no person who provides any such facility has given any indication that it may be withdrawn or its terms altered. 16.2 The details contained in the Disclosure Letter of the credit or debit balances on all the bank or deposit accounts of the Company were correct at the date stated in the Disclosure Letter and since such date there have been no payments out of any such accounts except for routine payments and the balances on such accounts are not now substantially different from the balances shown in the Disclosure Letter. 16.3 The Company has, since the Accounting Date, paid its creditors in accordance with their respective credit terms. 16.4 Having regard to existing bank and other facilities the Company has sufficient working capital to enable it to perform in accordance with their terms all Contracts which have been entered into by it.

Financing and working capital. 15.1 Full and accurate details of any and all overdrafts, loans or other financial facilities outstanding or available to the Company are contained in the Disclosure Letter; and no person who provides any such facility has given any indication that it may be withdrawn or its terms altered. 15.2 The details contained in the Disclosure Letter of the credit or debit balances on all the bank or deposit accounts of the Company were correct at the date stated in the Disclosure Letter and since such date there have been no payments out of any such accounts except for payments in the ordinary course of business. 15.3 The Company has, since the Accounting Date, paid its creditors materially in accordance with their respective credit terms. 15.4 Having regard to existing bank and other facilities the Company has sufficient working capital to enable it to perform in accordance with their terms all Contracts which have been entered into by it. 15.5 No person has given any guarantee of or security for any overdraft, loan, other financial facility granted to the Company or other liability of the Company. 15.6 The Company has not applied for or received any grant, subsidy or financial assistance from any government department or other body.

Financing and working capital. 13.1 The only arrangements of the Group in respect of overdrafts, loans or other financial facilities outstanding or available at the date hereof arise under the Existing Credit Facilities, in respect of which all agreements relating thereto have been Disclosed or included in the Data Room Information. So far as the Warrantors are aware, nothing has been done or omitted to be done by any Group Company in breach of the material terms of any of those facilities, and no person who provides any of those facilities has given any indication that it may be withdrawn or its terms materially altered. 13.2 The amount borrowed by each Group Company from its bankers does not exceed the amount of the facility agreed with such bankers and the total amount borrowed by each Group Company from whatever source does not exceed any limitation on its borrowing contained in its constitutional documents. 13.3 So far as the Warrantors are aware, no indebtedness of any Group Company is due and payable (and has not been paid) and no security over any of the assets of any Group Company is now enforceable. 13.4 No person (other than a Group Company) has given any guarantee of, indemnity for, or security for any overdraft, loan, other financial facility granted to any Group Company or other liability of any Group Company. 13.5 So far as the Warrantors are aware, no Group Company is a party to and is not liable (including contingently) under a guarantee, indemnity or other security to secure or incur a financial or other obligation with respect to another person’s obligation (other than another Group Company). 13.6 No Group Company has applied for or received any grant, subsidy or financial assistance from any government department or other body.

Financing and working capital. 28.1 The amount borrowed by each member of the Target Group from its bankers does not exceed the amount of the facility agreed with such bankers and the total amount borrowed by each member of the Target Group does not exceed any limitation on its borrowing contained in its articles of association or in any Contract, debenture, loan stock deed or any other contract to which it is a party. 28.2 No member of the Target Group has procured or engaged (directly or indirectly) in any borrowing or financing which is not properly shown or reflected in its statutory accounts or Management Accounts. 28.3 Accurate details of all overdrafts, loans or other financial facilities outstanding or available to each member of the Target Group are set out in the Disclosure Letter and copies of all material documents relating to those facilities are included in the Data Room. The Target Group has not received written notice that any of those facilities has been withdrawn or had its material terms altered since the Accounts Date. 28.4 There are no material debts owing to the Target Group other than trade debts incurred in the ordinary and usual course of business. 28.5 No indebtedness of any member of the Target Group is due and payable, no written notice has been received by the Target Group that any security over any of the assets of any member of the Target Group is now enforceable. No member of the Target Group has, since the Accounts Date, failed to comply with any written notice from a bank or other finance creditor requiring any payment to be made or seeking the enforcement of any security which it may hold over any member of the Target Group’s assets. No member of the Target Group has received written notice that it is in material breach (being a breach giving rise to a liability on the part of the relevant member of the Target Group of more than £100,000) of the terms of any facility with any bank or other debt obligation to which it is a party. 28.6 No person (other than a member of the Target Group) has given any guarantee of or security for any overdraft, loan, other financial facility which is presently used by the Target Group granted to any member of the Target Group or other liability of any member of the Target Group. 28.7 There is not outstanding any agreement or arrangement which establishes any guarantee, indemnity, suretyship, form of comfort or support (whether or not legally binding) given by any member of the Target Group in respect of the obligations or...

Financing and working capital. 8.1 Full and accurate details of all overdrafts, loans or other financial facilities outstanding or available to the Company are contained in the Disclosure Letter; and no person who provides any such facility has given any indication that it may be withdrawn or its terms altered. 8.2 The details contained in the Disclosure Letter of the credit or debit balances on all the bank or deposit accounts of the Company were correct at the date stated in the Disclosure Letter and since such date there have been no payments out of any such accounts except for routine payments and the balances on such accounts are not now substantially different from the balances shown in the Disclosure Letter. 8.3 The Company has, since the Accounting Date, paid its creditors in accordance with their respective credit terms.