Common use of Financial Reports and Other Data Clause in Contracts

Financial Reports and Other Data. (i) Furnish to the Bank as soon as available, and in any event within one hundred eighty (180) days after the end of each fiscal year of Borrower, audited consolidated balance sheets and statements of income of Borrower and its Subsidiaries which have been certified by an independent Certified Public Accountant acceptable to the Bank, showing the financial condition of Borrower and at the close of such year and the results of operations during such year, together with a Supplemental Schedule; and, within fifty (50) days after the end of each of the first three fiscal quarters of each year, financial statements similar to those mentioned above, on a consolidated basis, not audited, such balance sheets to be as of the end of each such quarter, and such statements of income to be for the period from the beginning of the fiscal year to the end of such quarter, in each case subject only to audit and year-end adjustment. Borrower shall use good faith efforts to submit the unaudited financial statements as certified by the Treasurer or other appropriate financial officer (“Certifying Officer”). Borrower’s failure to submit a certificate of the Certifying Officer with the unaudited financial statements shall not constitute an Event of Default, but any submission of Borrower shall automatically have been deemed to make the certifications in the preceding sentence when Borrower submits any financial statements to the Bank. The certificate of the Certifying Officer shall state that the attached financial statement, together with any explanatory notes therein referred to and attached thereto, is correct and complete and fairly presents the financial condition of the Borrower as of the date of the financial statement, and the results of its operations for the period ending on the date reflected in said financial statement; and that such financial statement has been prepared in accordance with generally accepted accounting principles applied on a consistent basis maintained throughout the period involved.

Financial Reports and Other Data. (ia) Furnish to the Bank as soon as available, and in any event within one hundred eighty twenty (180120) days after the end of each fiscal year of Borrower, audited consolidated balance sheets and statements of income and surplus of Borrower and its Subsidiaries which have been certified by an independent Certified Public Accountant acceptable to the Bank, showing the financial condition of Borrower and at the close of such year and the results of operations during such year, together with a Supplemental Schedule; and, within fifty ninety (5090) days after the end of each of the first three fiscal quarters of each yearquarter, financial statements similar to those mentioned above, on a consolidated consolidating basis, not audited, such balance sheets to be as of the end of each such quarter, and such statements of income and surplus to be for the period from the beginning of the fiscal year to the end of such quarter, in each case subject only to audit and year-end adjustment. Borrower shall use good faith efforts to submit the unaudited financial statements as certified by the Treasurer or other appropriate financial officer (“Certifying Officer”). Borrower’s failure to submit a certificate of the Certifying Officer with the unaudited financial statements shall not constitute an Event of Default, but any submission of Borrower shall automatically have been deemed to make the certifications in the preceding sentence when Borrower submits any financial statements to the Bank. The certificate of the Certifying Officer shall state that the attached financial statement, together with any explanatory notes therein referred to and attached thereto, is correct and complete and fairly presents the financial condition of the Borrower as of the date of the financial statement, and the results of its operations for the period ending on the date reflected in said financial statement; and that such financial statement has been prepared in accordance with generally accepted accounting principles applied on a consistent basis maintained throughout the period involved.