Financial Reporting and Notices Clause Samples
The Financial Reporting and Notices clause requires parties to provide regular financial statements and timely notifications regarding significant financial events or changes. Typically, this clause outlines the types of financial reports to be delivered, the frequency of reporting (such as quarterly or annually), and the method or format for delivering notices. Its core function is to ensure transparency and keep all parties informed about the financial status and developments, thereby reducing the risk of misunderstandings or undisclosed financial issues.
Financial Reporting and Notices. APA will furnish, or will cause to be furnished, to each Lender and the Administrative Agent copies of the following financial statements, reports, notices and information:
(a) within 90 days after the end of each fiscal year of APA, a copy of the audited annual report for such fiscal year (i) for APA and its Subsidiaries, including therein consolidated balance sheets of APA and its Subsidiaries as of the end of such fiscal year and consolidated statements of earnings and cash flow of APA and its Subsidiaries for such fiscal year, and (ii) while Apache is a Reporting Company, for Apache and its Subsidiaries, including therein consolidated balance sheets of Apache and its Subsidiaries as of the end of such fiscal year and consolidated statements of earnings and cash flow of Apache and its Subsidiaries for such fiscal year, in each case certified (without qualification) by independent public accountants of nationally recognized standing selected by APA;
(b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of APA commencing with the fiscal quarter ending June 30, 2022, (i) unaudited consolidated balance sheets of APA and its Subsidiaries as of the end of such fiscal quarter and consolidated statements of earnings and cash flow of APA and its Subsidiaries for such fiscal quarter and for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter, certified by an Authorized Officer of APA and (ii) while Apache is a Reporting Company, unaudited consolidated balance sheets of Apache and its Subsidiaries as of the end of such fiscal quarter and consolidated statements of earnings and cash flow of Apache and its Subsidiaries for such fiscal quarter and for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter, certified by an Authorized Officer of Apache;
(c) together with the financial statements described in (a) and (b), above a compliance certificate, in substantially the form of Exhibit B or any other form approved by the Administrative Agent, executed by an Authorized Officer of APA;
(d) within five (5) days after the occurrence of each Default, a statement of an Authorized Officer of APA setting forth details of such Default and the action which APA has taken and proposes to take with respect thereto;
(e) promptly after the sending or filing thereof, copies of all material public filings, reports and communications f...
Financial Reporting and Notices. The Borrower will maintain, for itself and each Subsidiary, a system of accounting established and administered in accordance with generally accepted accounting principles, and (subject to the penultimate paragraph of this Section 6.1) furnish to the Administrative Agent for distribution to the Lenders:
(a) Within ninety (90) days after the close of each of its fiscal years, an unqualified audit report certified by an independent registered public accounting firm which is a member of the “Big Four,” prepared in accordance with GAAP on a consolidated basis for itself and its Consolidated Subsidiaries, including balance sheets as of the end of such period and related statements of income, common shareholders’ equity and cash flows, accompanied by any management letter prepared by said accountants.
(b) Within forty-five (45) days after the close of the first three (3) quarterly periods of each of its fiscal years, for itself and its Consolidated Subsidiaries, either (i) consolidated and consolidating unaudited balance sheets as at the close of each such period and consolidated and consolidating profit and loss and reconciliation of surplus statements and a statement of cash flows for the period from the beginning of such fiscal year to the end of such quarter, all certified by its Chief Accounting Officer or Chief Financial Officer or (ii) if the Borrower is then a “registrant” within the meaning of Rule 1-01 of Regulation S-X of the SEC and required to file a report on Form 10-Q with the SEC, a copy of the Borrower’s report on Form 10-Q for such quarterly period.
(c) Together with the financial statements required under Sections 6.1(a) and (b), a compliance certificate in substantially the form of Exhibit A signed by its Chief Accounting Officer or Chief Financial Officer setting forth calculations of the financial covenants contained in Article VI and stating that no Default or Unmatured Default exists, or if any Default or Unmatured Default exists, stating the nature and status thereof.
Financial Reporting and Notices. The Company shall furnish the following financial statements and notices to the Investors:
(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, a consolidated balance sheet of the Company as at the end of such fiscal year, and consolidated statements of income and cash flows of the Company for such fiscal year, prepared in accordance with GAAP consistently applied and audited and certified by independent public accountants of nationally recognized standing selected by the Company and acceptable to each Investor, and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and certified by the principal financial or accounting officer of the Company. The financial statements referred to in this subsection (a) shall be accompanied by management discussion and analysis of the Company's financial condition, changes in financial condition and results of operations, as compared to the previous year and budget.
(b) As soon as practicable after the end of each quarterly accounting period in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, a consolidated balance sheet of the Company, as of the end of each such quarterly period, and consolidated statements of income and cash flows of the Company for such period and for the current fiscal year to date, prepared in accordance with GAAP consistently applied and setting forth in comparative form the figures for the corresponding periods of the previous fiscal year and to the Company's operating plan then in effect and approved by the Board, subject to changes resulting from normal year-end audit adjustments, all in reasonable detail and certified by the principal financial or accounting officer of the Company. The financial statements referred to in this subsection (b) shall be accompanied by management discussion and analysis of the Company's financial condition, changes in financial condition and results of operations, as compared to the previous year and budget.
(c) As soon as practicable after the end of each calendar month in each fiscal year of the Company, and in any event within thirty (30) days thereafter, an unaudited consolidated balance sheet of the Company, as of the end of each such month, and unaudited consolidated statements of income and cash flows of the Company for such period, prepared in accordance with GAAP consis...
Financial Reporting and Notices. Borrower will furnish, or will cause to be furnished, to each Lender and the Administrative Agent copies of the following financial statements, reports, notices and information:
(a) within 90 days after the end of each Fiscal Year of Borrower, a copy of the audited annual report for such fiscal year for Borrower and its Subsidiaries, including therein consolidated balance sheets of Borrower and its Subsidiaries as of the end of such fiscal year and consolidated statements of earnings and cash flow of Borrower and its Subsidiaries for such fiscal year, in each case certified (without qualification) by independent public accountants of nationally recognized standing selected by Borrower;
(b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of Borrower commencing with the fiscal quarter ending September 30, 2011, unaudited consolidated balance sheets of Borrower and its Subsidiaries as of the end of such fiscal quarter and consolidated statements of earnings and cash flow of Borrower and its Subsidiaries for such fiscal quarter and for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter, certified by an Authorized Officer of Borrower;