Financial Information and Reporting. (a) As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days thereafter, the Company will furnish to Xxxxxx a balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted accounting principles consistently applied and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. Such financial statements shall be accompanied by (i) a report and opinion thereon by independent public accountants of national standing selected by the Company's Board of Directors and reasonably acceptable to Xxxxxx, and (ii) a certificate executed by an officer of the Company certifying that the terms of the Series B Preferred and the terms of all other material agreements between Xxxxxx and the Company, other than that certain License and Collaboration Agreement dated as of February 27, 1998 (the "Collaboration Agreement") between the Company and Xxxxxx and any other agreements entered between the Company and Xxxxxx in connection with the Collaboration Agreement, have been complied with.
(b) So long as Xxxxxx shall own not less than 5% of the Company's outstanding capital stock, the Company will furnish Xxxxxx prior to the beginning of each fiscal year a budget on a monthly basis for such fiscal year (and as soon as available, any subsequent revisions thereto);
(c) The Company will furnish to Xxxxxx promptly after distribution (and in any event within 10 days after distribution) other reports of the Company that are publicly distributed, including written communications made generally available to the Company's Stockholders or the financial community.
(d) The Company will furnish to each member of the Company's Board of Directors, as soon as practicable after the end of each month, and in any event within thirty (30) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income of the Company for such month and for the current fiscal year to date, prepared in accordance with generally accepted accounting principles consistently applied, with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made.
Financial Information and Reporting. Except as otherwise stated in this AGREEMENT, all financial information provided to ADMINISTRATIVE AGENT shall be compiled using GAAP consistently applied. During the time period that any amounts are outstanding under the OBLIGATIONS or this AGREEMENT or the LOAN DOCUMENTS to which it is a party, unless ADMINISTRATIVE AGENT shall otherwise agree in writing:
6.1.1 BORROWER shall provide ADMINISTRATIVE AGENT within 120 days of BORROWER’s fiscal year end, BORROWER’s annual financial statements. The statements must be audited with an unqualified opinion by a certified public accountant reasonably acceptable to ADMINISTRATIVE AGENT, and must be accompanied by a certificate of such accountants stating whether, in conducting their audit, they have become aware of any EVENT OF DEFAULT, or of any event which would, after the lapse of time or the giving of notice, or both, constitute an EVENT OF DEFAULT, specifying the nature and duration of the default. Such audit statement shall be accompanied by the accountants’ calculations of BORROWER’s compliance with the covenants contained in Section 6.2 of this AGREEMENT as of the said fiscal year end.
6.1.2 After the CONSTRUCTION LOAN TERMINATION DATE, BORROWER will furnish to ADMINISTRATIVE AGENT within thirty (30) days after the end of each calendar month monthly internally prepared financial statements consisting of a balance sheet and income statement of BORROWER as of the end of such period, and income statements and statements of changes in cash flow for such period and year to date, prepared in accordance with GAAP, all in reasonable detail, except for the absence of financial footnotes, and calculations of the financial covenants set forth below.
6.1.3 For each quarter of each fiscal year ending after the CONSTRUCTION LOAN TERMINATION DATE, BORROWER will deliver to ADMINISTRATIVE AGENT, within thirty (30) days of each full fiscal quarter end, a certificate in form reasonably acceptable to ADMINISTRATIVE AGENT that has been signed by an authorized manager or officer of BORROWER, which: 1) certifies that the statements required by Section 6.1.1 and 6.
Financial Information and Reporting. As long as the Company is listed on the New York Stock Exchange, is publicly traded and timely Securities and Exchange Commission filings for the Company are generally available on XXXXX Online, the Company will have no additional financial information or reporting requirements hereunder, but if any of the foregoing shall cease to be true, then at the request of the Bank, the Company shall provide such tax returns and other financial information and reports as the Bank may from time to time reasonably require.
Financial Information and Reporting. This provision replaces in its entirety the provision of the Agreement titled “Financial Information and Reporting”. Financial terms used herein which are not specifically defined herein shall have the meanings ascribed to them under generally accepted accounting principles. For any Borrower who does not have a separate fiscal year end for tax reporting purposes, the fiscal year will be deemed to be the calendar year. The financial statements and other information previously provided to Bank or provided to Bank in the future are or will be complete and accurate and prepared in accordance with generally accepted accounting principles. There has been no material adverse change in Borrower’s financial condition since such information was provided to Bank. Borrower will (i) maintain accounting records in accordance with generally recognized and accepted principles of accounting consistently applied throughout the accounting periods involved; (ii) provide Bank with such information concerning its business affairs and financial condition (including insurance coverage) as Bank may request; and (iii) without request, provide to Bank the following financial information, in form and content acceptable to Bank, pertaining to Borrower:
Financial Information and Reporting. Except as otherwise stated in this Agreement, all financial information provided to the Bank shall be compiled using generally accepted accounting principles consistently applied. During the time period that credit is available under this Agreement, and afterward until all amounts due under the Documents are paid in full, unless the Bank shall otherwise agree in writing, the Borrower agrees to:
Financial Information and Reporting. The Borrowers will deliver the following to Lender:
(a) within thirty (30) days after the end of each month, financial statements of each Borrower, including a balance sheet and statements of income and surplus, and statement of cash flows, certified by a Financial Officer as fairly representing each Borrower's financial conditions as of the end of such period;
(b) within thirty (30) days after the end of each month, a certificate signed by a Financial Officer certifying the compliance of each Borrower with the terms of this Agreement and the calculation of the financial covenants contained in Section 7.21, hereof;
(c) a current Borrowing Base certificate in a form set forth, on Exhibit D, setting forth the calculation of the Borrowing Base for each Borrower with each advance request under the Loan, but in any event, no less frequently than once a month on the last day of such month;
(d) Intentionally Omitted;
(e) within twenty (20) days after the end of each month and immediately prior to each advance request under the Loan, a report for each Borrower, in form satisfactory to Lender, certified by a Financial Officer setting forth the number and dollar total of Financial Assets receivable due and payable (i) not more than thirty (30) days, (ii) more than thirty (30) days and not more than sixty (60) days, (iii) more than sixty (60) days and not more than ninety (90) days, (iv) more than ninety (90) and not more than 120 days, and (v) more than 120 days from the date of the "account next due date" therefor, and including a detailed calculation and certification of the accounts receivable that are not Eligible Financial Assets;
(f) within ninety (90) days after the end of each fiscal year thereafter, audited, unqualified financial statements of the Borrowers, on a consolidated basis, with audited consolidating schedules prepared in accordance with GAAP and certified by Xxxxx & Company LLP or other independent public accountants reasonably satisfactory to Lender, containing (i) balance sheets, (ii) statements of income and surplus, and (iii) statements of cash flows and reconciliation of capital accounts, along with any management letters written by such accountants and a lender reliance letter from such accountants permitting Lender to rely on such certifications of such accountants;
(g) no later than thirty (30) days prior to the beginning of each fiscal year, financial projections for each Borrower for its next fiscal year, on a quarterly basis, including ...
Financial Information and Reporting. (a) Lessee shall annually, within ninety (90) days after the close of Lessee's fiscal year, furnish to Lessor, financial statements of Lessee (including a balance sheet as of the close of such year and statements of income, changes in financial condition and shareholder's equity for such year) prepared in accordance with generally accepted accounting principles and certified by Lessee's independent public accountants. Lessee shall also provide quarterly financial statements of Lessee similarly prepared for each of the first three quarters of each fiscal year, which shall be certified (subject to normal year-end adjustments) by Lessee's chief financial officer and furnished to Lessor within sixty (60) days following the end of the quarter.
(b) Lessee will furnish Lessor with any and all information regarding Lessee's business, condition or operations, financial or otherwise which Lessee furnishes to any other creditor. This information shall be furnished to Lessor at the same time it is furnished to that creditor, provided Lessor will execute a Confidentiality Agreement if requested by Lessee.
(c) Within three business days after a request, Lessee will furnish Lessor with such further public information regarding Lessee's business, condition, property, assets or operations, financial or otherwise, as Lessor may from time to time reasonably request, all prepared in form and detail.
(d) Lessee will at all times maintain true and complete records and books of account including, without limiting the generality of the foregoing, appropriate reserves for possible losses and liabilities, all in accordance with generally accepted accounting principles consistently applied.
(e) Lessee shall permit, and cause any Subsidiary to permit, representatives of Lessor (i) to visit and inspect any of the properties of Lessee or any Subsidiary (ii) to examine its or their corporate or partnership books and records, (iii) to make extracts or copies of such books and records, and (iv) to discuss its or their affairs, finances and accounts with its or their officers or partners, as applicable. The foregoing may be done at any time within regular business hours, upon reasonable notice to Lessee.
(f) Lessee will promptly notify Lessor in writing of the commencement of any litigation to which Lessee or any of its affiliates may be a party (except for litigation in which Lessee's (or the affiliate's) contingent liability is fully covered by insurance) which, if decided adversely to L...
Financial Information and Reporting. Except as otherwise stated in this AGREEMENT, all financial information provided to the BANK shall be compiled using GAAP consistently applied. During the time period that any amounts are outstanding under the CONSTRUCTION NOTE or this AGREEMENT or the LOAN DOCUMENTS, unless the BANK shall otherwise agree in writing:
Financial Information and Reporting. (a) The Company will cause to be maintained complete books and records accurately reflecting the accounts, business and transactions of the Company on a calendar-year basis and with sufficient detail and completeness customary and usual for businesses of the type engaged in by the Company. The Company’s books and records and financial statements will be kept using the accrual method of accounting and in accordance with U.S. generally accepted accounting principles. The Company will maintain a system of internal accounting controls which are sufficient to provide reasonable assurance that (w) transactions are executed in accordance with the Company’s signature authority policy; (x) transactions are recorded as necessary to permit preparation of the financial statements of the Company and to maintain accountability for the Company’s assets; (y) access to the Company’s assets is permitted only in accordance with management’s authorization; and (z) the reporting of the Company’s assets is compared with existing assets at regular intervals. The Company’s financial statements will be audited annually by an independent nationally recognized public accounting firm approved by the Company’s Board of Directors.
Financial Information and Reporting. The Company shall cause to be furnished to each Holder of at least Two Million Dollars ($2,000,000) in principal amount of Notes or any holder of the Warrants exercisable into at least two million (2,000,000) Shares (a "MAJOR HOLDER"):
(a) Within five (5) business days after the filing with the SEC, a copy of its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, any proxy statements and any Current Reports on Form 8-K, any filings made pursuant to the Securities Act and any amendments of any of the foregoing (it being understood that, should the Company no longer be required to file such reports, that the Company shall provide the information specified in Sections 7.1(a) and (b) of the Credit Agreement with such certificates required therein also addressed to Purchasers); and (b) within three (3) day after release, copies of all press releases issued by the Company or any of its subsidiaries;
(b) As soon as practicable and, in any event, within ninety (90) days after the end of each of the Company's fiscal years, beginning with the fiscal year ending December 31, 2001, a written statement of such Company's independent certificated public accountant that in performing its audit such accountant has not obtained knowledge of any Event of Default or disclosing all Events of Default of which it has obtained knowledge;
(c) Together with the delivery of the Company's 10-Q and 10-K or such other reports required to be delivered under this Agreement, a certificate of the Company executed by an authorized officer of the Company stating whether any Event of Default or any event which, with the passage of time or giving of notice or both, would constitute such an Event of Default currently exists and is continuing and what action, if any, the Company and/or any of its subsidiaries is taking or propose to take with respect thereto;
(d) Within thirty (30) days after the end of each month, an unaudited income statement and balance sheet for and as of the end of such month, in reasonable detail, setting forth a comparison to the annual budget and year-to-date statements, all in the form reasonably prepared for the internal use of senior management of the Company as well as access to all other financial reports provided to management, including so-called "ARC Corporate Dashboard", "management dashboard", "Resources coming off Project", "Field Service Dashboard Metrics", "Cashflow Forecast Daily Detail" and "run-off" reports;
(e) Within thirty (30) days after ...
