This excerpt taken from the UA 8-K filed Dec 28, 2006.
(k) Promissory Notes. If the Required Lenders elect to evidence their Revolving Line of Credit Commitments with Promissory Notes, each Company shall have executed and delivered to each Lender a Promissory Note in the form attached hereto as Exhibit B.
(l) Financial Statements; Projections. The Agent shall have received (i) interim financial statements of Under Armour and its Subsidiaries, on a consolidated basis, for the monthly period ending immediately prior to the Closing Date, and (ii) internally prepared projections on a monthly basis for the remainder of fiscal year 2006, on a monthly basis for fiscal year 2007, and on an annual basis for fiscal years 2008-2011.
(m) Material Adverse Change. Since September 30, 2006, there shall have occurred no material adverse change in the business, condition (financial or otherwise), operations, performance, properties or liabilities of Under Armour and its Subsidiaries taken as a whole.
Upon the execution of this Financing Agreement and making of the initial Revolving Loan hereunder, all of the above conditions precedent shall have been deemed satisfied, except as the Companies and the Agent shall otherwise agree in a separate writing.