Common use of Financial Statements and Accounting Records Clause in Contracts

Financial Statements and Accounting Records. Subject to Section ------------------------------------------- 12, consolidated financial statements for VTI, including without limitation, a consolidated balance sheet of VTI, VBSI and their Affiliates and the related consolidated statements of income, cash flow and shareholders' equity shall be submitted by VERSUS to E*TRADE within thirty (30) days after the end of each fiscal quarter of VERSUS for such fiscal quarter and within sixty (60) days after the end of each fiscal year for such year (such annual financial statements to be audited by an nationally recognized accounting firm in Canada). The Applicable VERSUS Entity shall also provide E*TRADE with copies of monthly and annual regulatory financial filings made with Canadian regulatory or self regulatory authorities and stock exchanges promptly after such filings are made. Such monthly and quarterly financial statements shall be prepared in accordance with Canadian generally accepted accounting principles and/or applicable regulatory requirements.