Annual Financial Statements and Reports. Within a reasonable period after the close of each fiscal year, the Company shall furnish to each Member with respect to such fiscal year (i) a statement showing in reasonable detail the computation of the amount distributed under section 4.1, and the manner in which it was distributed (ii) a balance sheet of the Company, (iii) a statement of income and expenses, and (iv) such additional information as may be required by law. The financial statements of the Company need not be audited by an independent certified public accounting firm unless the Manager so elects or the law so requires.
Annual Financial Statements and Reports. As soon as available but in any event within 120 days after the end of each Financial Year, deliver to IFC (together with translations in English):
(i) 2 copies of its and each of its Subsidiaries’ complete and audited financial statements (including consolidating financial statements with respect to its Subsidiaries) for that Financial Year (which are in agreement with its books of account and prepared, on a Consolidated Basis, in accordance with the Accounting Standards, together with an unqualified audit report on them from the Auditors, all in form satisfactory to IFC;
(ii) a management letter from the Auditors commenting, with respect to that Financial Year, on, among other things, the adequacy of the Borrower’s financial control procedures, accounting systems and management information system, and for the management letter from the Auditors for Financial Year 2013, a confirmation by the Auditors that not less than $38,600,000 has been incurred by the Borrower on the Project costs specified in Annex A;
(iii) a report by the Auditors certifying that, on the basis of its financial statements:
(A) the Borrower was in compliance with the covenants in Section 5.01(n) (Financial Ratios); and
(B) the Auditors are not aware of any non-compliance by the Borrower with the other covenants in Section 5.02 (Negative Covenants); and, where applicable, detailing any non-compliance; and
(iv) a report by the Borrower on its operations during that Financial Year, substantially in the form of, and addressing the topics listed in, Schedule 8;
(v) a capital and operating budget for the then-current Financial Year; and
(vi) a statement by the Borrower of all transactions between the Borrower and/or its Subsidiaries and each of their respective Affiliates, if any, during that Financial Year, and a certification by the Borrower’s and/or its Subsidiaries’ chief financial officer that those transactions were on the basis of arm’s-length arrangements;
Annual Financial Statements and Reports. For each of (i) the Borrower and its Subsidiaries, (ii) CPS, and (iii) PETNet, furnish to the Administrative Agent and each Lender, as soon as available and in any event within one hundred twenty (120) days after the end of each Fiscal Year, a balance sheet) consolidated as to the financial statements of the Borrower and its Subsidiaries) as of the end of such Fiscal Year and the related statements of income, shareholders' equity and cash flows (consolidated as to the financial statements of the Borrower and its Subsidiaries) for such Fiscal Year, audited and reported upon, without qualification, by independent certified public accountants acceptable to the Administrative Agent and Requisite Lenders, in their reasonable discretion, accompanied by an unaudited consolidating balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Year and unaudited consolidating statements of income and cash flows of the Borrower and its Subsidiaries for such Fiscal Year, certified by a Responsible Officer, together with a certificate of a Responsible Officer, in form satisfactory to the Administrative Agent and the Lenders, (1) stating that no Default has occurred and is continuing or, if in the opinion of such officer, a Default has occurred and is continuing, stating the nature thereof and the action that either CTI and its Subsidiaries, CPS or PETNet, as applicable, propose(s) to take with respect thereto, and (2) setting forth computations demonstrating compliance with all financial covenants contained herein as of the end of such Fiscal Year.
Annual Financial Statements and Reports. As soon as available, but in any event not later than ninety (90) days after the end of each Fiscal Year, commencing with the first Fiscal Year ending on or after the Financial Closing Date:
(i) Financial Statements of the Borrower as at the end of such Fiscal Year, audited by the Borrower’s Accountant and accompanied by any management letter delivered by the Borrower’s Accountant;
(ii) a discussion and analysis by the management of the Borrower of the Borrower’s business and operations at the end of such Fiscal Year with respect to the matters set forth in clause (b)(ii) above;
(iii) a report certified by the Borrower addressing the extent to which the Project Facility Performance Targets have been achieved; and
(iv) a report from the Borrower’s Accountant, including (A) for each such Fiscal Year, certifying that it has no knowledge that an Event of Default or Potential Default has occurred and is continuing or if, any Event of Default or Potential Default has occurred and is continuing, a statement as to the nature and period of existence thereof; (B) for each such Fiscal Year that includes all or a portion of the Construction Period, the aggregate amount of Equity Contributions and the aggregate amount of Advances applied to pay Project Costs; and (C) for each such Fiscal Year that includes all or a portion of the Operating Period, a comparison between such annual Financial Statements and the projections for such Fiscal Year contained in the Operating Forecast, and a certification that it has no knowledge that the Borrower was not, and is not, in compliance with Section 6.33 or, if such non-compliance has occurred a statement as to the nature thereof;
Annual Financial Statements and Reports. Not later than one hundred twenty (120) days after the end of each Fiscal Year:
(i) audited Financial Statements of the Borrower as at the end of such Fiscal Year, including the related report or reports of the Borrower’s Accountant; and
(ii) a discussion and analysis by the management of the Borrower of the Borrower’s business and operations at the end of such Fiscal Year (which may be satisfied by delivery of the Management’s Discussion and Analysis of Financial Condition and Results of Operation filed with the Securities and Exchange Commission).
Annual Financial Statements and Reports. Within one hundred --------------------------------------- twenty (120) days after the end of each fiscal year, the Borrowers will furnish to the Bank a copy of the Borrowers' audited balance sheet as of the end of such year and audited statements of income, retained earnings, stockholders' equity and cash flows for such fiscal year, each prepared in conformity with GAAP on a consolidated basis and setting forth in each case, in comparative form, corresponding figures from the preceding fiscal year, all in reasonable detail and satisfactory in scope to the Bank. Such financial statements shall be duly certified by independent certified public accountants of recognized standing selected by the Borrowers and acceptable to the Bank.
Annual Financial Statements and Reports. As soon as available but in any event within one hundred and twenty (120) days after the end of each Financial Year, deliver to IFC:
(i) two (2) copies of its complete and audited financial statements for that Financial Year (which are in agreement with its books of account and prepared in accordance with the Accounting Standards, together with the Auditors' audit report on them, all in form satisfactory to IFC;
(ii) a statement by the Borrower of all transactions between the Borrower and each of its Affiliates, if any, during that Financial Year, and a certification by the Borrower's chief financial officer that those transactions were on the basis of arm's-length arrangements;
Annual Financial Statements and Reports. As soon as available, and in any event within one hundred twenty (120) days after the end of each Fiscal Year, (i) the consolidated balance sheets of Parent and its subsidiaries, in each case, as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Parent and its subsidiaries, in each case, for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year, in reasonable detail, together with a Financial Officer Certification with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon of EisnerAmper or other independent certified public accountants of recognized national standing selected by Seller, and reasonably satisfactory to the Administrative Agent (which report shall be unqualified (other than any qualification related solely to the potential inability of Company to refinance the Obligations prior to the Commitment Termination Date) as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Parent and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards) (such report shall also include (x) a detailed summary of any audit adjustments; (y) a reconciliation of any audit adjustments or reclassifications to the previously provided monthly or quarterly financials; and (z) restated monthly or quarterly financials for any impacted periods).
Annual Financial Statements and Reports. Within 90 days after the last day of each fiscal year of the Company, a copy of its audit report containing a consolidated balance sheet of the Company at the end of the fiscal year, together with related consolidated
Annual Financial Statements and Reports. As soon as available but in any event within 90 days after the end of each Financial Year, deliver to IFC:
(i) two copies of its complete and audited financial statements for that Financial Year (which are in agreement with its books of account and prepared in accordance with the Accounting Standards), together with its Auditors’ audit report on them, all in form satisfactory to IFC;
(ii) a management letter and any other communication from its Auditors commenting, with respect to that Financial Year, on, among other things, the adequacy of the Borrower’s financial control procedures, accounting systems and management information system;
(iii) a report (in the form pre-agreed by IFC), signed by the Borrower’s chief executive officer or chief financial officer, concerning compliance with the financial covenants in this Agreement (including a clear description of the methodology used in the respective calculations);
(iv) a report by the Borrower on its operations during that Financial Year, in the form of, and addressing the matters listed in, Schedule 7 (Quarterly and Annual Operations Report Information); and
(v) a statement by the Borrower of all transactions between the Borrower and each of its Affiliates, if any, during that Financial Year, and a certification by the Borrower’s chief executive officer or chief financial officer that those transactions were on the basis of arm’s-length arrangements;
