Common use of Financial Statements and Reporting Requirements Clause in Contracts

Financial Statements and Reporting Requirements. Borrower ----------------------------------------------- shall furnish to Bank: Section 7.1.1. As soon as available, but in no event later than ninety (90) days after the end of each Fiscal Year, Financial Statements for such year, audited and certified by Xxxxxx Xxxxxxxx & Co. (or other independent certified public accountants acceptable to Bank) in the case of such consolidated statements, and certified by the chief financial officer of Borrower in the case of such consolidating statements; and, concurrently with the delivery of such Financial Statements, a copy of said certified public accountants' management report, if any. Section 7.1.2. As soon as available, but in no event later than twenty (20) days after the end of each month, internally prepared Financial Statements, prepared in accordance with GAAP on year-to-date and month-to-date basis and internally prepared copies of the following financial reports: (i) aging of accounts receivable and accounts payable and (ii) summary of Inventory, all prepared in accordance with GAAP. Section 7.1.3. As soon as available, but in no event later than three (3) days after the end of each calendar week, a certificate in substantially the form of Exhibit F attached hereto setting forth (i) --------- Borrower's then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower's then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, Equipment and other Collateral as Bank may reasonably request; and (iv) a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the "Borrowing Base Certificate"). Section 7.1.4. As soon as available, but in no event later than the end of each Fiscal Year, forecasted Financial Statements prepared in accordance with the standards set forth in Section 4.8. hereof, showing a most likely scenario and including collateral availability and usage under the Line of Credit and in such further reasonable detail as Bank may request for each of the forthcoming twelve (12) months, month by month, together with such appropriate supporting details and statements or assumptions. Section 7.1.5. As soon as available, but in no event later than forty-five (45) days after the end of each Fiscal Year , a report in substantially the form of Exhibit G attached hereto signed on behalf of --------- Borrower by its chief financial officer.

Financial Statements and Reporting Requirements. Borrower ----------------------------------------------- shall furnish to Bank: Section 7.1.1. As soon as available, but in no event later than ninety (90) days after the end of each Fiscal Year, consolidated and consolidating Financial Statements for each of Borrower and Guarantor for such year, audited and certified by Xxxxxx Xxxxxxxx & Co. LLP (or other independent certified public accountants acceptable to Bank) in the case of such consolidated statements, and certified by the chief financial officer of Borrower or Guarantor, as applicable, in the case of such consolidating statements; and, concurrently with the delivery of such Financial Statements, a copy of said certified public accountants' management reportreport and a written statement by such accountants that, in the making of the audit necessary for their report and opinion upon such Financial Statements, they have obtained no knowledge of any Default or Event of Default, or, if anyin the opinion of such accountants any such Default or Event of Default exists, they shall disclose in such written statement the nature and status thereof. Section 7.1.2. As soon as available, but in no event later than twenty thirty (2030) days after the end of each month (60 days after month-end in the case of May, 1997), internally prepared Financial Statements, prepared in accordance with GAAP on year-to-date and month-to-month to date basis and internally prepared copies certified by the chief financial officer of Borrower but subject, however, to normal, recurring year-end adjustments that shall not in the following financial reports: (i) aging of accounts receivable and accounts payable and (ii) summary of Inventory, all prepared aggregate be material in accordance with GAAPamount. Section 7.1.3. As soon as available, but in no event later than three fifteen (315) days after the end of each month, internally prepared copies of the following financial reports: (i) a reconciliation of Accounts Receivable in substantially the form of Exhibit F attached hereto; (ii) an aging of accounts receivable and accounts payable; (iii) an accounts receivable exclusion report in substantially the form of Exhibit G attached hereto; (iv) a Borrowing Base Certificate and (v) a designation of merchandise report in substantially the form of Exhibit H attached hereto, all prepared in accordance with GAAP. Section 7.1.4. As soon as available, but in no event later than five (5) days after the end of each calendar week, (a) a certificate in substantially the form of Exhibit F I-1 attached hereto setting forth (i) --------- Borrower's then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower's then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, Equipment and other Collateral as Bank may reasonably request; and (iv) containing a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the "Borrowing Base Certificate")) and (b) a report as to orders received and booked by Borrower and a backlog report, such reports to be in the form of Exhibits I-2 and I-3 attached hereto. Section 7.1.47.1.5. As soon as available, but in no event later than thirty (30) days prior to the end of each Fiscal Year, forecasted Financial Statements prepared in accordance with the standards set forth in Section 4.8. hereof, showing a most likely probable scenario and including collateral availability and usage under the Line of Credit and in such further reasonable detail as Bank may request for each of the forthcoming twelve (12) months, month by month, together with such appropriate supporting details and statements or assumptions. Section 7.1.57.1.6. As soon as available, but in no event later than forty-five (45) days after the end of each Fiscal Year Quarter, a report in substantially the form of Exhibit G J attached hereto signed on behalf of --------- Borrower by its chief financial officer. Section 7.1.7. On a daily basis as required by Bank, a loan advance confirmation report and/or a loan payment calculation report in substantially the form of Exhibit A and Exhibit K attached hereto. Section 7.1.8. As soon as available, copies of any and all reports filed by Guarantor with the United States Securities and Exchange Commission, including Form l0-Q and Form 10-K.

Financial Statements and Reporting Requirements. Borrower shall ----------------------------------------------- shall furnish to Bank: Section 7.1.1. As soon as available, but in no event later than ninety (90) days after the end of each Fiscal Year, Financial Statements for such year, audited and certified by Xxxxxx Xxxxxxxx & Co. (or other independent indepen- dent certified public accountants acceptable to Bank) in the case of such consolidated statements, and certified by the chief financial officer of Borrower in the case of such consolidating statements; and, concurrently with the delivery of such Financial Statements, a copy of said certified public accountants' management report, if any. Section 7.1.2. As soon as available, but in no event later than twenty (20) days after the end of each month, internally prepared Financial Statements, prepared in accordance with GAAP on year-to-date and month-to-to- date basis and internally prepared copies of the following financial reports: (i) aging of accounts receivable and accounts payable and (ii) summary of Inventory, all prepared in accordance with GAAP. Section 7.1.3. As soon as available, but in no event later than three (3) days Business Days after the end of each calendar week, a certificate in substantially the form of Exhibit F attached hereto setting forth (i) --------- Borrower's --------- then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower's then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, Equipment and other Collateral as Bank may reasonably request; and (iv) a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the "Borrowing Base Certificate"). Section 7.1.4. As soon as available, but in no event later than sixty (60) days following the end of each Fiscal Year, forecasted Financial Statements prepared in accordance with the standards set forth in Section 4.8. hereof, showing a most likely scenario and including collateral availability and usage under the Line of Credit and in such further reasonable detail as Bank may request for each of the forthcoming twelve (12) months, month by month, together with such appropriate supporting details and statements or assumptions. Section 7.1.5. As soon as available, but in no event later than forty-five (45) days after the end of each Fiscal Year , a report in substantially the form of Exhibit G attached hereto signed on behalf of Borrower --------- Borrower by its chief financial officer.

Financial Statements and Reporting Requirements. Borrower ----------------------------------------------- shall furnish to Bank: Section 7.1.1. As soon as available, but in no event later than ninety (90) days after the end of each Fiscal Year, Financial Statements for such year, audited and certified by Xxxxxx Xxxxxxxx & Co. (or other independent certified public accountants acceptable to Bank) in the case of such consolidated statements, and certified by the chief financial officer of Borrower in the case of such consolidating statements; and, concurrently with the delivery of such Financial Statements, a copy of said certified public accountants' management report, if any. Section 7.1.2. As soon as available, but in no event later than twenty (20) days after the end of each month, internally prepared Financial Statements, prepared in accordance with GAAP on year-to-date and month-to-date basis and internally prepared copies of the following financial reports: (i) aging of accounts receivable and accounts payable and (ii) summary of Inventory, all prepared in accordance with GAAP. Section 7.1.3. As soon as available, but in no event later than three (3) days after the end of each calendar week, a certificate in substantially the form of Exhibit F attached hereto setting forth (i) --------- Borrower's then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower's then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, Equipment and other Collateral as Bank may reasonably request; and (iv) a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the "Borrowing Base Certificate"). Section 7.1.4. As soon as available, but in no event later than the end of each Fiscal Year, forecasted Financial Statements prepared in accordance with the standards set forth in Section 4.8. hereof, showing a most likely scenario and including collateral availability and usage under the Line of Credit and in such further reasonable detail as Bank may request for each of the forthcoming twelve (12) months, month by month, together with such appropriate supporting details and statements or assumptions. Section 7.1.5. As soon as available, but in no event later than forty-forty- five (45) days after the end of each Fiscal Year Year, a report in substantially the form of Exhibit G attached hereto signed on behalf of --------- Borrower by its chief financial officer.

Financial Statements and Reporting Requirements. Borrower ----------------------------------------------- shall furnish to Bank: Section 7.1.1. As soon as available, but in no event later than ninety one hundred twenty (90120) days after the end of each Fiscal Year, consolidated and consolidating Financial Statements for such year, audited and certified by Xxxxxx Xxxxxxxx & Co. CCR LLP (or other independent certified public accountants acceptable to Bank) in the case of such consolidated statements, and certified by the chief financial officer of Borrower in the case of such consolidating statements; and, concurrently with the delivery of such Financial Statements, a copy of said certified public accountants' ’ management report, if any. Section 7.1.2. As soon as available, but in no event later than twenty (20) days after the end of each month, internally prepared Financial Statements, prepared in accordance with GAAP on year-to-date and month-to-date basis and internally prepared copies of the following financial reports: (i) aging of accounts receivable and accounts payable and (ii) summary of Inventory, all prepared in accordance with GAAP. Section 7.1.3. As soon as available, but in no event later than three (3) days after the end of each calendar week, a certificate in substantially the form of Exhibit F attached hereto setting forth (i) --------- Borrower's then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower's then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, Equipment and other Collateral as Bank may reasonably request; and (iv) a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the "Borrowing Base Certificate"). Section 7.1.4. As soon as available, but in no event later than the end of each Fiscal Year, forecasted Financial Statements prepared in accordance with the standards set forth in Section 4.8. hereof, showing a most likely scenario and including collateral availability and usage under the Line of Credit and in such further reasonable detail as Bank may request for each of the forthcoming twelve (12) months, month by month, together with such appropriate supporting details and statements or assumptions. Section 7.1.5. As soon as available, but in no event later than forty-five (45) days after the end of each Fiscal Year Quarter, an internally prepared consolidated and consolidating balance sheet as of the end of, and a related consolidated and consolidating statement of income for, the period then ended, certified by the chief financial officer of Borrower but subject, however, to normal, recurring year-end adjustments that shall not in the aggregate be material in amount. Section 7.1.3. As soon as available, but in no event later than forty-five (45) days after the end of each Fiscal Quarter, a report in substantially the form of Exhibit G attached E hereto signed on behalf of --------- Borrower by its chief financial officer. Section 7.1.4. As soon as available, but in no event later than fifteen (15) days after each Fiscal Year end and the end of the Second Fiscal Quarter ending approximately June 30 of each Fiscal Year, a semi-annual backlog report/work schedule report, in form and substance acceptable to Bank and including, without limitation, a reference to the end use of each component referenced therein, signed on behalf of Borrower by its chief financial officer. Section 7.1.5. As soon as available, but in no event later than fifteen (15) days after the filing thereof, copies of the Borrower’s and any Guarantor’s federal and state income tax returns, together with all schedules and exhibits thereto, certified by Borrower or Guarantor, as the case may be, as true, correct and complete. Section 7.1.6. No later than fifteen (15) days after the end of each calendar month, an aging of Accounts Receivable, an aging of accounts payable, and a summary of Borrower’s Inventory, each to be prepared in form and substance acceptable to Bank. The foregoing shall only be required during such periods of time as a balance exists under the Line of Credit or a Letter of Credit has been issued and is outstanding. Section 7.1.7. No later than fifteen (15) days after the end of each calendar month, but in any event with each Notice of Borrowing under Section 2.1.2. hereof, a certificate in substantially the form of Exhibit F hereto setting forth (i) Borrower’s then existing Eligible Inventory or, if requested by Bank, particular items, types or categories thereof; (ii) Borrower’s then existing Eligible Accounts Receivable; (iii) such other information in respect of Inventory, Accounts Receivable, and other Collateral as Bank may reasonably request; and (iv) containing a calculation of Borrowing Base and borrowing availability as of the date of said certificate (the “Borrowing Base Certificate”). The foregoing shall only be required during such periods of time as a balance exists under the Line of Credit or a Letter of Credit has been issued and is outstanding. Section 7.1.8. Such other information, documents and/or instruments relating to the Borrower, its business, the Premises, the Property, or any Guarantor, as Bank may reasonably request from time to time.