Common use of Financial Statements and Other Periodic Reports Clause in Contracts

Financial Statements and Other Periodic Reports. (a) All financial statements will present fairly the financial position and results of operations and cash flow of the Company and will be prepared on an accrual basis in accordance with GAAP. (b) The Company will cause to be prepared and delivered to each Member: (i) No later than fifteen (15) business days after the end of each fiscal quarter, (A) an unaudited balance sheet as of the end of that quarter, (B) an income statement and a statement of cash flow for that quarter and for the period from the beginning of the Fiscal Year to the end of that quarter, and (C) an updated forecast for the remaining periods of the Fiscal Year, together with such other financial statements and information as may be reasonably requested by a Member, including any information required to enable a Member or any of its Affiliates to prepare quarterly and annual reports to be filed pursuant to any Law; (ii) No later than sixty days (60) days following the end of each Fiscal Year of the Company, an audited balance sheet and income statement of the Company for that Fiscal Year, together with such other audited financial statements as may be requested by a Member; and (iii) No later than January 15 of each year, executive summaries of the Companies insurance coverage for that year shall include insurer name, policy period and limits, applicable deductibles, brief coverage commentary and such other information reasonably requested by a Member.