Coach 2006 Annual Report Download - page 100

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7.1.3 Enforceability. The execution and delivery of this Credit Agreement and the other Loan Documents to which the Borrower
or any of its Significant Subsidiaries is or is to become a party will result in valid and legally binding obligations of such Person
enforceable against it in accordance with the respective terms and provisions hereof and thereof, except as enforceability is limited by
bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors' rights and
except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the court before
which any proceeding therefor may be brought.
7.2 Governmental Approvals. The execution, delivery and performance by the Borrower and any of its Significant Subsidiaries of this
Credit Agreement and the other Loan Documents to which the Borrower or any of its Significant Subsidiaries is or is to become a party and the
transactions contemplated hereby and thereby do not require the approval or consent of, or filing with, any governmental agency or authority other
than those already obtained.
7.3 Title to Properties. Except as indicated on Schedule 7.3 hereto, the Borrower and its Subsidiaries own all of the assets reflected in the
consolidated and combined balance sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date or acquired since that date (except
property and assets sold or otherwise disposed of in the ordinary course of business since that date and Real Estate leased by the Borrower or its
Subsidiaries), subject to no Liens or other rights of others, except Permitted Liens.
7.4 Financial Statements.
7.4.1 Fiscal Year. The Borrower and each of its Subsidiaries has a fiscal or financial year which is the twelve months ending on
or about June 30 of each calendar year.
7.4.2 Financial Statements. There has been furnished to each of the Lenders an audited consolidated and combined balance
sheet of the Borrower and its Subsidiaries as at the Balance Sheet Date, an audited consolidated and combined statement of income of the
Borrower and its Subsidiaries for the fiscal year then ended, and an audited consolidated and combined cash flow statement for the fiscal
year then ended. Such balance sheet and statements of income have been prepared in accordance with GAAP and fairly present the financial
condition of the Borrower as at the close of business on the date thereof and the results of operations for the fiscal year then ended. There are
no contingent liabilities of the Borrower or any of its Subsidiaries as of such date involving material amounts, known to the officers of the
Borrower, which were not disclosed in such balance sheet and the notes related thereto.
7.5 No Material Adverse Changes, etc. Since the Balance Sheet Date there has been no event or occurrence which has had a Material
Adverse Effect. Since the Balance Sheet Date, the Borrower has not made any Restricted Payment other than those permitted under Section 9.4.
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