Common use of Annual Financial Reports Clause in Contracts

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each calendar year or other fiscal year as may be applicable with respect to Borrower (a "FISCAL YEAR"), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, the cost of the certified public accountant's audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's audit;

Annual Financial Reports. As soon as available (a) Furnish to the Bank in form satisfactory to the Bank not later than one hundred and in any event within ninety twenty (90120) days after the end close of each calendar year or other fiscal year as may be applicable of the Borrower, beginning with respect to Borrower (the Borrower's fiscal year ending December 31, 2004, on a "FISCAL YEAR")consolidated basis, a statement balance sheet as at the close of each such fiscal year, statements of income and expense statements of Borrower cash flows for the annual period ended as of the end of each such Fiscal Yearfiscal year, and a balance sheet of Borrower such other notes and financial details as of the end of such Fiscal Year, all are usually included in such detail and scope as may similar reports. Such reports shall be reasonably required by Lender audited and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant accountants of recognized standing selected by the Borrower and certified by acceptable to the Bank and shall contain unqualified opinions as to the fairness of the statements therein contained. Also, as soon as it is available, the Borrower shall provide the Bank with a copy of its federal income tax return. (b) Cause to be true, correct and complete, and shall otherwise be furnished to the Bank in form acceptable satisfactory to Lender. In the event that Lender, acting in good faith, is Bank not satisfied with any such Financial Statement, later than one hundred and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen twenty (15120) days after Lender delivers written notice the close of each fiscal year of SHH, beginning with SHH's first fiscal year ending after the date hereof, on a consolidated basis, a balance sheet for SHH as at the close of each such dissatisfaction to Borrowerfiscal year, thenstatements of income and statements of cash flows for each such fiscal year, at Lender's request, Borrower and such other comments and financial details as are usually included in similar reports. Such reports shall furnish to Lender copies of be audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP by independent certified public accountants of recognized standing selected by SHH and acceptable to the Bank and shall contain unqualified opinions as to the fairness of the statements therein contained. Also, as soon as it is available, the Borrower shall cause SHH to provide the Bank with a copy of its federal income tax return. (c) Cause to be furnished to the Bank in form satisfactory to the Bank not later than one hundred and twenty (120) days after the close of each fiscal year of Sterling--Delaware, beginning with Sterling--Delaware's first fiscal year ending after the date hereof, on a basis consistent with prior accounting periodsconsolidated basis, a balance sheet for Sterling--Delaware as at the close of each such fiscal year, statements of income and statements of cash flows for each such fiscal year, and such other comments and financial details as are usually included in similar reports. Such reports shall be audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined prepared in accordance with GAAP) in GAAP by independent certified public accountants of recognized standing selected by Sterling Delaware and acceptable to the audited annual Bank and shall contain unqualified opinions as to the fairness of the statements do not vary by more than five percent (5%) from the figures in the unaudited annual statementstherein contained. Also, Lender shall bear, pro rata based upon its Pro Rata Percentageas soon as it is available, the cost Borrower shall cause Sterling Delaware to provide the Bank with a copy of its federal income tax return. (d) Sterling -- Delaware. To cause to be furnished to the certified public accountant's audit. IfBank, howeverpromptly upon the filing thereof, such figures vary by more and in any event, within ten (10) days after filing, copies of all registration statements (other than five percent (5%the exhibits thereto and any registration statements on Form S-8 or its equivalent), Borrower reports on Forms 10-K, 10-Q and 8-K (or their equivalents) and all other periodic reports, if any, which Sterling Delaware shall bear file with the cost of such certified public accountant's audit;Securities and Exchange Commission (or any Governmental Authority substituted therefor) or any national securities exchange.

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each calendar year or other fiscal year as may be applicable with respect to Borrower (a "FISCAL YEAR"“Fiscal Year”), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's ’s request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, the cost of the certified public accountant's ’s audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's ’s audit;

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each calendar year or other fiscal year as may be applicable with respect to Borrower (a "FISCAL YEARFiscal Year"), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, the cost of the certified public accountant's audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's audit;"

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each calendar year or other fiscal year as may be applicable with respect to Borrower (a "FISCAL YEAR"“Fiscal Year”), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's ’s request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, bear the cost of the certified public accountant's ’s audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's ’s audit;

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each of calendar year or other fiscal year as may be applicable with respect to the Borrower (a "FISCAL YEARFiscal Year"), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower and Guarantor to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, the cost of the certified public accountant's audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's audit;Lender

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each of calendar year or other fiscal year as may be applicable with respect to the Borrower (a "FISCAL YEARFiscal Year"), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender Agent and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to LenderAgent. In the event that LenderAgent, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender Agent with new Financial Statements acceptable to Lender Agent within fifteen (15) days after Lender Agent delivers written notice of such dissatisfaction to Borrower, then, at LenderAgent's request, Borrower shall furnish to Lender Agent copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender Agent and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to LenderAgent. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, each Lender shall bear, pro rata based upon its Pro Rata Percentage, the cost of the certified public accountant's audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's audit;

Annual Financial Reports. As soon as available and in any event within ninety (90) days after the end of each calendar year or other fiscal year as may be applicable with respect to Borrower (a "FISCAL YEAR"), a statement of income and expense of Borrower for the annual period ended as of the end of such Fiscal Year, and a balance sheet of Borrower as of the end of such Fiscal Year, all in such detail and scope as may be reasonably required by Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Notwithstanding the foregoing, Borrower shall deliver its annual financial statements for Fiscal Years 2000 and 2001 within 90 days of the Effective Date. Each annual financial statement of Borrower shall be prepared by an independent certified public accountant and certified by Borrower to be true, correct and complete, and shall otherwise be in form acceptable to Lender. In the event that Lender, acting in good faith, is not satisfied with any such Financial Statement, and if Borrower fails to provide Lender with new Financial Statements acceptable to Lender within fifteen (15) days after Lender delivers written notice of such dissatisfaction to Borrower, then, at Lender's request, Borrower shall furnish to Lender copies of audited income statements and balance sheets certified by an independent certified public accountant acceptable to Lender and prepared in accordance with GAAP and on a basis consistent with prior accounting periods. Such audited annual statements shall also be in form and content satisfactory to Lender. If the figures for net and total operating income (as such terms are defined in accordance with GAAP) in the audited annual statements do not vary by more than five percent (5%) from the figures in the unaudited annual statements, Lender shall bear, pro rata based upon its Pro Rata Percentage, bear the cost of the certified public accountant's audit. If, however, such figures vary by more than five percent (5%), Borrower shall bear the cost of such certified public accountant's audit;.