Financial Reporting Covenants. Borrower covenants and agrees that so long as any Commitment is in effect and until payment in full of all Obligations, unless the Requisite Lenders shall otherwise give their prior written consent, Borrower shall perform and comply with, and shall cause each of the other Loan Parties to perform and comply with, all covenants in this Section 4 applicable to such Person.
Financial Reporting Covenants. (1) The Borrower will deliver to the Bank:
(a) Financial Statements for its fiscal year, within 90 days after fiscal year end, audited and certified without qualification by a certified public accountant acceptable to the Bank.
(b) Financial Statements for each of the first three fiscal quarters, within 60 days after the quarter end, together with year-to-date and comparative figures for the corresponding periods of the prior year, certified as true and correct by its chief financial officer.
(c) With each delivery of Financial Statements, a certificate of the Borrower’s chief financial officer as to the Borrower’s compliance with the financial covenants set forth below, if any, for the period then ended and whether any Event of Default exists, and, if so, the nature thereof and the corrective measures the Borrower proposes to take. This certificate shall set forth all detailed calculations necessary to demonstrate such compliance.
(2) With each delivery of Financial Statements pursuant to clause (b) above, the Borrower will deliver to the Bank updated financial projections for the current fiscal year in a form reasonably satisfactory to the Bank.
Financial Reporting Covenants. 36 ARTICLE 7 MISCELLANEOUS..................................................36 7.1 Governing Law.....................................................36
Financial Reporting Covenants. The Company agrees to comply with the financial reporting requirements of the Company required by the Subscription Agreements.
Financial Reporting Covenants. The Parties agree that regular financial reporting by Novacea will be useful to KuDOS as a means of satisfying itself as to Novacea’s ability to finance its obligations hereunder and to enable KuDOS, if appropriate, to exercise its right to terminate under Section 11.4, below. To this end, Novacea covenants as follows:
6.8.1 Until such time as Novacea becomes listed or otherwise initiates regular trading on NASDAQ or a comparable equity exchange: (i) on or before the last day of each calendar month, commencing on January 15, 2004, Novacea shall notify KuDOS of its total cash and investments accurate as of the last business day of the preceding calendar month; (ii) on or before the 45th day of each calendar quarter, Novacea shall deliver to KuDOS an unaudited quarterly financial statement for the preceding calendar quarter, and (iii) on or before June 30 of each calendar year, commencing with June 30, 2004, Novacea shall deliver to KuDOS a true and correct financial statement for the preceding calendar or fiscal year. Such financial statement shall be audited if Novacea has otherwise secured an audited financial statement for such year. If an audited financial statement has not otherwise been prepared by Novacea for such year, an unaudited statement, certified as accurate by the Chief Financial Officer or Chief Executive Officer of Novacea, shall be provided to KuDOS. In the event that information previously provided to KuDOS pursuant to this Section 6.8.1 is subsequently restated or revised, the restated or revised information shall promptly be provided to KuDOS.
6.8.2 Following such time as Novacea becomes listed or otherwise initiates regular trading on NASDAQ or a comparable equity exchange, Novacea shall only have the obligation to deliver to KuDOS such financial information as is generally made available to the public.
Financial Reporting Covenants. 22 Insurance............................................................. 22
Financial Reporting Covenants. Not later than the 25th day of ----------------------------- each month during the period beginning on the Tier I Closing through the later of (i) completion of performance of all of Buyer's duties and obligations hereunder (including under the Management Agreement, the Deferred Payment Note and Section 7.6.3 hereof), or (ii) certification by ED of Buyer and the Schools for full participation in Title IV student financial aid funding programs (the "Management Period"), Buyer shall provide to Seller a financial report containing the following information: (i) statements of operations for the immediately preceding month and year-to-date; (ii) balance sheets as of the end of the immediately preceding month; and (iii) statements of cash flows for the immediately preceding month and year-to-date (the "Monthly Financial Reports"). The Monthly Financial Reports shall be prepared in accordance with Generally Accepted Accounting Principles except for footnote disclosures and customary year-end adjustments that in the aggregate are not and will not be material to the financial condition of Buyer. The Monthly Financial Reports shall be in such detail as Seller may reasonably request. Buyer shall not be deemed in breach of this Section 7.9 to the extent of any failure or delay by Buyer to deliver any Monthly Financial Report, which failure or delay is based solely on Seller being unable to provide certain MicroSoft Excel reports to Buyer under the Support Services Agreement following migration of the SAS to a UNIX operating system under Section 1.2(e)(vii) of the Support Services Agreement. Buyer shall also provide to Seller copies of all quarterly and annual financial statements and reports distributed to Buyer's stockholders generally or filed with any federal or state governmental agency with respect to Buyer's business. Such reports will be provided to Seller no later than three business days following the first to occur of (a) the date of distribution thereof to Buyer's stockholders, and (b) the date of filing thereof with any state or federal governmental agency.
Financial Reporting Covenants. Until the principal amount of the Note has been paid or duly provided for, the City covenants and agrees to provide in form and content acceptable to the Bank:
(a) As soon as available after the close of the City’s fiscal year, the complete audited financial statements of the City; and
(b) Such additional financial statements, data and information concerning the financial condition of the City as may be reasonably requested by the Bank.
Financial Reporting Covenants. (a) The following capitalized terms used herein shall have the meanings ascribed to them below:
Financial Reporting Covenants. The Guarantor covenants that, until payment in full of the Obligations, it will furnish to the Lender:
