Common use of Restatement of Financial Statements Clause in Contracts

Restatement of Financial Statements. We have advised you that the Company may need to restate its Consolidated financial statements for one or more periods ending prior to December 31, 2004 (such restatements, collectively, the “Restatements”), and accordingly, the Company may be in violation of its obligations under Sections 5.01(a), 5.01(f) and other provisions of the Credit Agreement. The Restatements may also result in certifications and representations and warranties of the Company made or deemed made pursuant to the Credit Agreement and other credit or ISDA agreements entered into by the Company and/or its Consolidated Subsidiaries or contained in certificates, financial statements and other documents delivered pursuant to such agreements, in each case, prior to the date hereof having been incorrect when made or deemed made. Furthermore, the Restatements may result in the Company’s inability to make the representation and warranty contained in the last sentence of Section 4.01(e). The Company requests that the Lenders waive any breach, Default and related Event of Default in connection with the matters described in the preceding paragraph and any conditions precedent to borrowing contained in Section 3.03 of the Credit Agreement to the extent that the Company’s inability to meet any such conditions relates to these matters, in each case, solely to the extent related to the Restatements provided that no such Restatements resulting from intentional misstatements have a material negative impact on the Company’s financial condition. Upon the completion of the Restatements, the Company will deliver to the Agent a copy of any restated financial statements, together with a certificate of the chief financial officer or chief accounting officer of the Company, which certificate shall include a statement that such officer has no knowledge, except as specifically stated, of any condition, event or act which constitutes a Default.