Financial Statements; Internal Control Event Sample Clauses
The 'Financial Statements; Internal Control Event' clause requires a party to provide accurate financial statements and to promptly disclose any significant issues related to internal financial controls. In practice, this means the party must regularly deliver up-to-date financial reports and notify the other party if there are any material weaknesses or failures in their internal accounting or financial reporting systems. This clause ensures transparency and helps the other party assess financial risk, thereby protecting against potential misstatements or fraud.
Financial Statements; Internal Control Event. (a) The December 31, 2017, audited consolidated financial statements of the Company and its Subsidiaries heretofore delivered to the Lenders were prepared in accordance with GAAP in effect on the date such statements were prepared and fairly present the consolidated financial condition and operations of the Company and its Subsidiaries at such date and the consolidated results of their operations for the period then ended.
(b) To the best knowledge of the Company, no Internal Control Event exists or has occurred since the date of the financial statements delivered pursuant to Section 6.1(i) that has resulted in or could reasonably be expected to result in a misstatement in any material respect, in any financial information delivered or to be delivered to the Administrative Agent or the Lenders, of (i) covenant compliance calculations provided hereunder or (ii) the assets, liabilities, financial condition or results of operations of the Company and its Subsidiaries on a consolidated basis.
Financial Statements; Internal Control Event. The December 31, 2015, audited consolidated financial statements of the Company and its Subsidiaries heretofore delivered to the Lenders were prepared in accordance with GAAP in effect on the date such statements were prepared and fairly present the consolidated financial condition and operations of the Company and its Subsidiaries at such date and the consolidated results of their operations for the period then ended.
Financial Statements; Internal Control Event. (a) The December 31, 2010 audited consolidated financial statements of the Company and its Subsidiaries, and their unaudited financial statements dated as of March 31, 2011, heretofore delivered to the Lenders were prepared in accordance with GAAP in effect on the date such statements were prepared and fairly present the consolidated financial condition and operations of the Company and its Subsidiaries at such date and the consolidated results of their operations for the period then ended.
(b) To the best knowledge of the Company, no Internal Control Event exists or has occurred since the date of the financial statements delivered pursuant to Section 7.1(a) that has resulted in or could reasonably be expected to result in a misstatement in any material respect, in any financial information delivered or to be delivered to the Administrative Agent or the Lenders, of (i) covenant compliance calculations provided hereunder or (ii) the assets, liabilities, financial condition or results of operations of the Company and its Subsidiaries on a consolidated basis.