Common use of Annual Operating Budget and Cash Flow Clause in Contracts

Annual Operating Budget and Cash Flow. As soon as available, but in any event not later than the earlier of (i) ninety (90) days after the end of each fiscal year and (ii) approval by the Board of Directors of the Borrower, projected annual Consolidated balance sheets and statements of income of the Borrower and its Consolidated Subsidiaries for the immediately succeeding fiscal year; all annual and quarterly financial statements to be delivered pursuant to Section 5.1(a) and (b) shall be complete and correct in all material respects (subject, in the case of interim statements, to normal recurring year-end audit adjustments) and prepared in accordance with GAAP applied consistently throughout the periods reflected therein and further accompanied by a description of, and an estimation of the effect on the financial statements on account of, a change, if any, in GAAP as provided in Section 1.3(b). Notwithstanding the foregoing, the documents required to be delivered pursuant to the foregoing provisions of this Section may be delivered electronically and if so, shall be deemed to have been delivered on the date on which the Administrative Agent receives such reports from the Borrower through electronic mail; provided that, upon the Administrative Agent’s request, the Borrower shall provide paper copies of any documents required hereby to the Administrative Agent.

Annual Operating Budget and Cash Flow. As soon as available, but in any event not later than the earlier of (i) Within ninety (90) days after the end of each fiscal year and (ii) approval by including the Board of Directors fiscal year ending December 31, 2012), a copy of the Borrower, projected detailed annual Consolidated balance sheets and statements of income operating budget or plan including cash flow projections of the Borrower Company and its Consolidated Subsidiaries for the immediately succeeding next four fiscal yearquarter period prepared on a quarterly basis, in form and detail reasonably acceptable to the Administrative Agent and the Lenders, together with a summary of the material assumptions made in the preparation of such annual budget or plan; all annual and quarterly such financial statements to be delivered pursuant to Section 5.1(a) and (b) shall be complete and correct in all material respects (subject, in the case of interim statements, to normal recurring year-end year‑end audit adjustmentsadjustments and the absence of footnotes) and to be prepared in reasonable detail and, in the case of the annual and quarterly financial statements provided in accordance with subsections (a) and (b) above, in accordance with GAAP applied consistently throughout the periods reflected therein with changes required or permitted by GAAP and further accompanied by a description of, and an estimation of the effect on the financial statements on account of, a material change, if any, in GAAP as provided in Section 1.3(b). Notwithstanding the foregoing, the documents financial statements and reports required to be delivered pursuant to the foregoing provisions of this Section may be delivered electronically and if so, shall be deemed to have been delivered on the date on which the Administrative Agent receives such reports from the Borrower Company through electronic mail; provided that, upon the Administrative Agent’s request, the Borrower Company shall provide paper copies of any documents required hereby to the Administrative Agent.

Annual Operating Budget and Cash Flow. As soon as available, but in any event not later than the earlier of (i) Within ninety (90) days after the end of each fiscal year and (ii) approval by including the Board of Directors fiscal year ending December 31, 2016), a copy of the Borrower, projected detailed annual Consolidated balance sheets and statements of income operating budget or plan including cash flow projections of the Borrower Company and its Consolidated Subsidiaries for the immediately succeeding next four fiscal yearquarter period prepared on a quarterly basis, in form and detail reasonably acceptable to the Administrative Agent and the Lenders, together with a summary of the material assumptions made in the preparation of such annual budget or plan; all annual and quarterly such financial statements to be delivered pursuant to Section 5.1(a) and (b) shall be complete and correct in all material respects (subject, in the case of interim statements, to normal recurring year-end audit adjustmentsadjustments and the absence of footnotes) and to be prepared in reasonable detail and, in the case of the annual and quarterly financial statements provided in accordance with subsections (a) and (b) above, in accordance with GAAP applied consistently throughout the periods reflected therein with changes required or permitted by GAAP and further accompanied by a description of, and an estimation of the effect on the financial statements on account of, a material change, if any, in GAAP as provided in Section 1.3(b). Notwithstanding the foregoing, the documents financial statements and reports required to be delivered pursuant to the foregoing provisions of this Section may be delivered electronically and if so, shall be deemed to have been delivered on the date on which the Administrative Agent receives such reports from the Borrower Company through electronic mail; provided that, upon the Administrative Agent’s request, the Borrower Company shall provide paper copies of any documents required hereby to the Administrative Agent.

Annual Operating Budget and Cash Flow. As soon as available, but in any event not later than the earlier of within sixty (i) ninety (9060) days after the end of each fiscal year and (ii) approval by the Board of Directors year, a copy of the Borrower, projected detailed annual Consolidated balance sheets and statements of income operating budget or plan including cash flow projections of the Borrower Parent and its Consolidated Subsidiaries for the immediately succeeding next four fiscal yearquarter period prepared on a quarterly basis, together with a summary of the material assumptions made in the preparation of such annual budget or plan; all annual and quarterly such financial statements to be delivered pursuant to Section 5.1(a) and (b) shall be complete and correct in all material respects and be prepared in reasonable detail and, in the case of the annual and quarterly financial statements, provided in accordance with subsections (a) and (b) above, in accordance with GAAP (subject, in the case of interim statements, to normal recurring year-end year‑end audit adjustmentsadjustments and the absence of footnotes) and prepared in accordance with GAAP applied consistently throughout the periods reflected therein and further accompanied by a description of, and an estimation of the effect on the financial statements on account of, a change, if any, in GAAP as provided in Section 1.3(b). Notwithstanding the foregoing, the documents financial statements and reports required to be delivered pursuant to the foregoing provisions of this Section may be delivered electronically and if so, shall be deemed to have been delivered on the date on which the Administrative Agent receives such reports from the Borrower through electronic mail; provided that, upon the Administrative Agent’s request, the Borrower shall provide paper copies of any documents required hereby to the Administrative Agent.