CURRENT STATEMENTS Clause Samples
CURRENT STATEMENTS. The Seller shall cause its Interim Financial Statements to be reviewed by its current firm of certified public accountants and provide the Buyer with (a) a copy of such reviewed report, even if it is not finished before the Closing, and (b) copies of its monthly internal balance sheets and related statements of operations for the monthly accounting periods between the Interim Balance Sheet Date and the Closing Date by the 15th day of each month for the preceding calendar month, which shall present fairly the financial position of the Seller and the results of operations for the period indicated in accordance with GAAP, except for the absence of footnotes. Such monthly statements shall show: (x) the current month's and prior year's actual results for such month and the current month's budget, each by line item, (y) items of non-recurring income and expense separately, and (z) 1998 and 1999 year-to-date information for each of the foregoing, all of which shall be presented fairly and in accordance with GAAP, except for the absence of footnotes. In addition, the Seller shall provide to the Buyer simultaneously with the delivery of these monthly financial statements, financial information to permit the Buyer to compute readily the income from operations of the Business for such month and the year-to-date.
CURRENT STATEMENTS. The Seller shall provide the Buyer with copies of its monthly internal balance sheets and related statements of operations for the monthly accounting periods between the Interim Balance Sheet Date and the Closing Date by the 15th day of each month for the preceding calendar month, which shall present fairly the financial position of the Seller and the results of operations for the period indicated in accordance with GAAP, except for the absence of footnotes. Such monthly statements shall show: (i) the current month's and prior year's actual results for such month and the current month's budget, each by line item, (ii) items of non-recurring income and expense separately, and (iii) 1998 year-to-date information for each of the foregoing, all of which shall be presented fairly and in accordance with GAAP, except for the absence of footnotes. In addition, the Seller shall provide to the Buyer simultaneously with the delivery of these monthly financial statements, financial information to permit the Buyer to compute readily the income from operations of the Business for such month and the year-to-date.
CURRENT STATEMENTS. Borrower has furnished current financial statements to Lender, prepared in accordance with generally accepted accounting principles, which are hereby represented and warranted to be true and complete as of their date and to fairly represent the respective financial conditions of Borrower [and Borrower’s general partner] [and all guarantors], and Lender has relied on such financial statements in agreeing to advance funds hereunder. There has been no significant change in the financial condition of Borrower [or Borrower’s general partner] [or any guarantor] from that shown in such financial statements. Borrower agrees at all times to keep Lender fully informed of the status and financial condition of Borrower [and Borrower’s general partner] [and all guarantors], and will disclose to Lender all material facts necessary to make all previous disclosures not misleading. Lender shall have full and complete access at all times to Borrower’s [and Borrower’s general partner’s] [and all guarantors’] current financial records.