Common use of Financial Statements and Accounting Records Clause in Contracts

Financial Statements and Accounting Records. Financial statements for the Company, including, without limitation, a balance sheet, income statement, statement of cash flows and statement of shareholders’ equity, shall be submitted by the Company to each of the Parties (a) within 60 days after the end of the quarter of each fiscal year for such quarterly period, and (b) within 45 days after the end of each fiscal year for such year. Each of the annual financial statements shall be audited and certified by a reputable accounting firm retained by the Company, selected by GBT. All financial statements shall be prepared in accordance with generally accepted accounting principles in the United States and in reasonable detail, and shall contain such financial data as GBT may deem necessary in order to keep the Parties advised of the Company’s financial status (although such statements need not include footnotes and may be subject to year-end adjustments). The Company shall, at GBT’s request, provide GBT with such financial information as GBT may reasonably deem necessary for purposes of complying with its periodic reporting obligations under U.S. securities law and shall cooperate with GBT in connection therewith, including in the preparation of quarterly financial statements if required by GBT; provided, that Company shall bear any costs incurred in preparing or providing such information, including, without limitation, in preparing additional financial statements and reconciling the Company’s financial statements with U.S. generally accepted accounting principles for such purposes.

Financial Statements and Accounting Records. Financial statements for the Company, including, without limitation, a balance sheet, income statement, statement of cash flows and statement of shareholders’ ' equity, shall be submitted by the Company to each of the Parties (a) within 60 thirty (30) days after the end of the quarter of each fiscal year quarter for such quarterly periodquarter, and (b) within 45 ninety (90) days after the end of each fiscal year for such year. Each of the annual financial statements shall be audited and certified by a reputable KPMG or another internationally recognized accounting firm firm, selected by ICGA and retained by the Company, selected by GBT. All financial statements shall be prepared at the cost of the Company, shall be complete and correct in all material respects, shall be prepared in reasonable detail and in accordance with generally accepted accounting principles in the United States and in reasonable detailU.S. Generally Accepted Accounting Principles, and shall contain such financial data as GBT the Parties may deem necessary reasonably request in order to keep the Parties advised of the Company’s 's financial status (although such interim statements need not include footnotes and may be subject to year-end adjustments). The Company shall, at GBT’s request, shall provide GBT Breakaway with such financial information as GBT Breakaway may reasonably deem necessary request for purposes of complying with its periodic reporting obligations under U.S. securities law laws and shall cooperate with GBT Breakaway in connection therewith, including in the preparation of quarterly financial statements if required by GBT; provided, that Company shall bear any costs incurred in preparing or providing with complying with such informationobligations, including, without limitation, in preparing additional financial statements and reconciling the Company’s 's financial statements with U.S. generally accepted accounting principles Generally Accepted Accounting Principles for such purposes.

Financial Statements and Accounting Records. Financial statements for the Company, including, without limitation, a balance sheet, income statement, statement of cash flows and statement of shareholders’ equity, shall be submitted by the Company to each of the Parties (a) within 60 days after the end of the quarter of each fiscal year for such quarterly period, and (b) within 45 days after the end of each fiscal year for such year. Each of the annual financial statements shall be audited and certified by a reputable accounting firm retained by the Company, selected by GBTMAGIC. All financial statements shall be prepared in accordance with generally accepted accounting principles in the United States and in reasonable detail, and shall contain such financial data as GBT MAGIC may deem necessary in order to keep the Parties advised of the Company’s financial status (although such statements need not include footnotes and may be subject to year-end adjustments). The Company shall, at GBTMAGIC’s request, provide GBT MAGIC with such financial information as GBT MAGIC may reasonably deem necessary for purposes of complying with its periodic reporting obligations under U.S. securities law and shall cooperate with GBT MAGIC in connection therewith, including in the preparation of quarterly financial statements if required by GBTMGIC; provided, that Company shall bear any costs incurred in preparing or providing such information, including, without limitation, in preparing additional financial statements and reconciling the Company’s financial statements with U.S. generally accepted accounting principles for such purposes.