Financial Statements and Budget. Agent shall have received a proposed annual budget for the Closing Date through the end of calendar year 2023, which shall be in form and substance satisfactory to Agent.
Financial Statements and Budget. The Lender shall have received (i) copies of the financial statements referred to in Section 5.05 and (ii) an annual operating plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts, for the fiscal year 2013.
Financial Statements and Budget. (a) Deliver to the Administrative Agent for prompt further distribution to each Lender, within 90 days after the end of each fiscal year (or 120 days for the first fiscal year ending after the Closing Date), a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, stockholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of BDO USA, LLP, or any other independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit;
(b) Deliver to the Administrative Agent for prompt further distribution to each Lender, within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower (or 60 days for the first three fiscal quarters ending after the Closing Date), a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such fiscal quarter and the related consolidated statements of income or operations for such fiscal quarter and the portion of the fiscal year then ended, setting forth in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, and statements of stockholders’ equity for the current fiscal quarter and consolidated statement of cash flows for the portion of the fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and
(c) As soon as available, and in any event within fifteen (15) days prior to (and no later than) the commencement of any Fiscal Year, an annual budget for the Borrower and its Subsidiaries for such Fis...
Financial Statements and Budget. All Financial Statements concerning Holdings, Borrower and their respective Subsidiaries which have been or will hereafter be furnished to Agent pursuant to this Agreement have been or will be prepared in accordance with GAAP consistently applied (except as disclosed therein) and do or will present fairly in all material respects the financial condition of the entities covered thereby as at the dates thereof and the results of their operations for the periods then ended, subject to, in the case of unaudited Financial Statements, the absence of footnotes and normal year-end adjustments. Each Budget delivered pursuant to Section 4.4(e) of this Agreement represent or will represent as of the date thereof the good faith estimate of Borrower and its senior management concerning the most probable course of its business it being understood that projections are subject to inherent uncertainties and that actual results may differ.
Financial Statements and Budget. Denver Water shall deliver or make available to the Lender the following; provided that availability of any such information on EMMA or on Denver Water’s website shall constitute delivery of such information:
(a) as soon as available, and in any event within two hundred seventy (270) days after the end of each fiscal year of Denver Water, a copy of the Audited Financial Statements of Denver Water for such fiscal year; and
(b) as soon as available, and in any event within thirty (30) days after the commencement of each fiscal year of Denver Water, the authorized budget of Denver Water for such fiscal year.
Financial Statements and Budget. A true and complete copy of (A) an unaudited balance sheet of the Company as of December 31, 2010 (the “Balance Sheet”), (B) an unaudited income statement of the Company for the 9 month period ended December 31, 2008, and the 12 month periods ended December 31, 2009 and December 31, 2010 (the “Income Statements” and collectively with the Balance Sheet, the “Financial Statements”) and (C) an operating budget for the Company for fiscal year 2011 (the “Budget”), are attached as Schedule 3(k) to this Agreement. The Financial Statements fairly present the financial condition and operating results of the Company as of the dates, and for the periods, indicated therein, subject to normal year-end audit adjustments (which are not expected to be material either individually or in the aggregate). Except as set forth in the Financial Statements, the Company has no material liabilities or obligations, contingent or otherwise, other than liabilities incurred in connection with the consummation of the transactions contemplated under the Offering, an estimate of which is set forth on Schedule 3(k), and those incurred in the ordinary course of business subsequent to December 31, 2010.
Financial Statements and Budget. Section 3.01 The Society shall appoint annually as auditors of the Society such firm of chartered accountants as shall be appointed by the City to be the external auditors of the City as soon as reasonably possible after being notified in writing by the City of the name of such firm.
Section 3.02 The Society shall instruct its auditors to furnish the City and the School Board with a copy of each and every report of its auditors made in respect of the books, accounts and records of the management and operation of the Facilities and those parts of the School Premises under the jurisdiction of the Society by the Society.
Section 3.03 The Society shall co-operate with the Internal Audit Division of the City for the purpose of developing audit and financial control procedures with respect to the management and operation of the Facilities and those parts of the School Premises under the jurisdiction of the Society by the Society.
Section 3.04 The Society shall on or before the 15th day of January in each year during the term of this agreement submit to the City for the approval of the Council of the City the proposed operating, maintenance and capital budget of the Society with respect to the Centre for the current fiscal year of the Society; each budget shall contain an estimate of all expenditures (including administrative, janitorial, maintenance, security services, programme and capital costs) and an estimate of all income which the Society expects to receive during the current fiscal year including grants and donations related to the management and operation of the Facilities and those parts of the School Premises under the jurisdiction of the Society including, without restricting the generality of the foregoing, all grants and donations. Each budget shall be in a form satisfactory to the Director of Finance and shall include the budget for the Library Board and Park Board with respect to their operation in respect to the Centre.
Section 3.05 The Society shall make such revisions to any budget submitted by it to the City pursuant to Section 3.04 hereof as soon as reasonably possible after being notified by the City of the revisions it requires.
Section 3.06 The Director of Finance shall pay over to the Society monthly out of the monies standing to the credit of the Society which is provided for in a budget submitted by the Society to the City under Section 3.04 hereof and approved by the City such amounts as the Director of Finance and the Society agree fr...
Financial Statements and Budget. All Financial Statements concerning Holdings, Borrower and their respective Subsidiaries which have been or will hereafter be furnished to Agent pursuant to this Agreement, including the consolidated balance sheets at December 31, 2006 and the related statement of income of Holdings and its Subsidiaries, for the Fiscal Year then ended, audited by Ernst & Young LLP, have been or will be prepared in accordance with GAAP consistently applied (except as disclosed therein) and do or will present fairly in all material respects the financial condition of the entities covered thereby as at the dates thereof and the results of their operations for the periods then ended, subject to, in the case of unaudited Financial Statements, the absence of footnotes and normal year-end adjustments. The Budget delivered on or prior to the Closing Date for Fiscal Year 2007 and each Budget delivered pursuant to Section 4.3(e) represent or will represent as of the date thereof the good faith estimate of Borrower and its senior management concerning the most probable course of its business it being understood that projections are subject to inherent uncertainties and that actual results may differ.
Financial Statements and Budget. Seller has furnished to Buyer the Financial Statements and the Budget for the Division. The Financial Statements were prepared in conformity with generally accepted accounting principles applied on a consistent basis and the Financial Statements present fairly the financial condition of the Division as of the dates thereof, and the results of its operations for the periods therein indicated (subject, in the case of the Monthly Financial Statements, to periodic and year-end adjustments). Except as disclosed in the Financial Statements, the results of operations of the Division reflected therein were not affected to a material extent by changes or inconsistencies in accounting policies or by the inclusion of extraordinary or exceptional items. The Financial Statements include as an accrued liability adequate provision for payments not yet due as of the date of the Financial Statements relating to the importation of merchandise for the Business. The Budget was prepared on the basis of good faith assumptions concerning the future prospects of the Business and in a manner consistent with prior results of operations. (f) Absence of Material Adverse Change, etc. Except as set forth on Schedule 7, since July 31, 1999, (i) there has been no material adverse change with respect to the rights, properties, assets, liabilities, financial condition or operations of Seller in respect of the Division, (ii) the Business has been carried on and conducted in the ordinary and usual course in all material respects, (iii) Seller has preserved and maintained in all material respects each of the Permits and Licenses and the relationship of the Business with each of its material customers, customs agents, suppliers, shippers, and employees, (iv) reserved, (v) Seller has not on account of or with respect to the Business made any capital commitment or expenditure, or any unusual or extraordinary commitment or expenditure, or incurred or become liable for any debt or other obligation or liability (except for liabilities incurred in the ordinary course of business), or, except in the ordinary course of business, entered into any guaranty or agreement for the production or manufacture of goods or equipment or the providing of services, other than such commitments or expenditures that, individually or in the aggregate, would not have a Material Adverse Effect, (vi) Seller has not disposed of any of the Personal Property other than in the ordinary course of conduct of the Business and wh...
Financial Statements and Budget. The financial statement of the Apartment Corporation's operations for the period ended December 31, 1991 is appended to this Amendment as Exhibit A. The Apartment Corporation's statements are prepared on a cash rather than accrual basis. See independent auditor's report and Note 1 to the financial statement. The financial statement should be interpreted recognizing the Apartment Corporation's particular method of reporting its income and expenses. The financial statement is contained herein for informational purposes only. The holder of Unsold Shares does not adopt the financial statement or make any representation as to the adequacy, accuracy or completeness of same or any item shown therein and none should be implied. The holder of Unsold Shares have not participated in the preparation of the financial statement of the Apartment Corporation and have not independently verified the information contained therein. The budget for the Apartment Corporation's operations for the year 1992 is appended to this Amendment as Exhibit B.
