Common use of Financial Statements of the Borrower Clause in Contracts

Financial Statements of the Borrower. The Borrower will deliver to the Bank the following: (a) Within forty-five (45) days after the end of each quarter of the Borrower's fiscal year: (i) a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower; and (ii) a balance sheet and income statement for each of the Borrower and its Subsidiaries on a stand alone basis for each such entity as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower. (b) Within ninety (90) days after the end of each fiscal year of the Borrower, a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail, audited and certified by independent certified public accountants of recognized national standing, whose opinion thereon shall be reasonably satisfactory to the Bank in scope and substance. (c) Within fifteen (15) days after the end of each calendar quarter, accounts receivable aging schedules and inventory status reports for the Borrower and each Subsidiary as of the end of such quarter certified to the Bank by an authorized officer of the Borrower. (d) Promptly upon receipt thereof, copies of all management letters submitted to the Borrower by independent certified public accountants in connection with each annual or interim audit of the books of the Borrower by such accountants. (e) With each delivery required under subparagraphs (a) and (b) above, a compliance certificate in form approved by the Bank executed by an executive officer of the Borrower demonstrating compliance with the Loan Documents. (f) Promptly upon the occurrence of any Default or Event of Default, a notice thereof, specifying the nature thereof. (g) Promptly upon becoming available, a copy of all: (i) reports, registration statements and other materials filed with the Securities and Exchange Commission; (ii) all offering circulars made in connection with any distribution or sale of the Borrower's securities; and (iii) all notices, proxy statements and other materials mailed or distributed to the Borrower's shareholders. (h) Such other material information as the Bank may from time to time reasonably request.

Financial Statements of the Borrower. The Borrower will deliver to the Bank Lenders the following: (a) Within forty-five (45) days after the end of each quarter of the Borrower's Borrower_s fiscal year: (i) a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis Borrower_s financial statements as of the end of and for such period in reasonable detail detail, setting forth in consolidated and comparative form the corresponding figures for that date and period and for the corresponding date and accounting period in the preceding fiscal year, certified by an authorized officer of the Borrower; and (ii) a balance sheet and income statement for each of the Borrower and its Subsidiaries on a stand alone basis for each such entity as of the end of and for such period in reasonable detail certified by an authorized officer of the BorrowerBorrower_s chief financial officer. (b) Within ninety (90) days after the end of each fiscal year of the Borrower, a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis financial statements as of the end of and for such period year of the Borrower in reasonable detail, audited setting forth in consolidated and comparative form the corresponding figures for that date and period and for the corresponding date and period in the preceding fiscal year, certified by independent certified public accountants of recognized national standingstanding selected by the Borrower and acceptable to the Lenders, whose opinion thereon certificate shall be reasonably satisfactory to the Bank Lenders in scope and substance. (c) Within fifteen ninety (1590) days after the end of each calendar quarter, accounts receivable aging schedules and inventory status reports for the Borrower and each Subsidiary as of the end of such quarter certified to the Bank by an authorized officer fiscal year of the Borrower, total comparable store sales for the Borrower_s comparable stores for such fiscal year and for the prior fiscal year, in form reasonably satisfactory to the Lenders, certified by the Borrower_s chief financial officer. The Borrower shall calculate total comparable store sales in a manner that is consistent with past practices. (d) Within thirty (30) days of either Lender's request, consolidating financial statements of the Borrower as of the most recent quarterly or annual fiscal period for which consolidated financial statements have been delivered hereunder, certified by the Borrower_s chief financial officer. (e) Within 45 days after the end of each fiscal quarter of the Borrower, a compliance certificate certified to the Lenders by the Borrower_s chief financial officer in form satisfactory to the Lenders showing compliance in all respects with the Loan Documents. (f) Within 90 days after the end of each fiscal year of the Borrower, projected financial statements certified to the Lenders by the Borrower_s chief financial officer showing projected income statements for the ensuing one-year period. (g) Promptly upon receipt thereof, copies of all other detailed reports (if any) (including, without limitation, any management letters disclosing or addressing any material accounting or other issues submitted to the Board of Directors) submitted to the Borrower or any Subsidiary by independent certified public accountants in connection with each annual or interim audit or review of the books of the Borrower or any Subsidiary by such accountants. (eh) With each delivery required under subparagraphs (a) and subparagraph (b) above, a compliance certificate in form approved by written statement of the Bank executed by an executive officer independent certified public accountants who shall have certified the financial statements of the Borrower demonstrating compliance with that in making the Loan Documentsexamination necessary for such certification they have obtained no knowledge of any Default or Event of Default in the fulfillment of any of the terms, covenants, or conditions of Section 4.08 of this Agreement. (fi) Promptly upon the occurrence of any Default or Event under the provisions of Article IV, which has continued for more than five (5) business days after a senior officer of the Borrower has actually learned of such Default, a written notice to the Lenders thereof, specifying the nature thereof. (g) Promptly upon becoming available, a copy of all: (i) reports, registration statements and other materials filed with the Securities and Exchange Commission; (ii) all offering circulars made in connection with any distribution or sale of the Borrower's securities; and (iii) all notices, proxy statements and other materials mailed or distributed to the Borrower's shareholders. (h) Such other material information as the Bank may from time to time reasonably request.

Financial Statements of the Borrower. The Borrower will deliver to the Bank the following: (a) Within forty-five (45) days after the end of each quarter of the Borrower's fiscal year (other than the last quarter of each fiscal year:): (i) a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower; and (ii) a balance sheet and income statement for each of the Borrower and its Subsidiaries on a stand alone basis for each such entity as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower. (b) Within ninety (90) days after the end of each fiscal year of the Borrower, a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail, audited and certified by independent certified public accountants of recognized national standing, whose opinion thereon shall be reasonably satisfactory to the Bank in scope and substance. (c) Within fifteen (15) days after the end of each calendar quarter, accounts receivable aging schedules and inventory status reports for the Borrower and each Subsidiary as of the end of such quarter certified to the Bank by an authorized officer of the Borrower. (d) Promptly upon receipt thereof, copies of all management letters submitted to the Borrower by independent certified public accountants in connection with each annual or interim audit of the books of the Borrower by such accountants. (e) With each delivery required under subparagraphs (a) and (b) above, a compliance certificate in form approved by the Bank executed by an executive officer of the Borrower demonstrating compliance with the Loan Documents. (f) Promptly upon the occurrence of any Default or Event of Default, a notice thereof, specifying the nature thereof. (g) Promptly upon becoming available, a copy of all: (i) reports, registration statements and other materials filed with the Securities and Exchange Commission; (ii) all offering circulars made in connection with any distribution or sale of the Borrower's securities; and (iii) all notices, proxy statements and other materials mailed or distributed to the Borrower's shareholders. (h) Such other material information as the Bank may from time to time reasonably request.

Financial Statements of the Borrower. The Borrower will deliver ------------------------------------- to the Bank the following: (a) Within forty-five (45) days after the end of each quarter of the Borrower's fiscal year: (i) a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower; and (ii) a balance sheet and income statement for each of the Borrower and its Subsidiaries on a stand alone basis for each such entity as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower. (b) Within ninety (90) 45 days after the end of each fiscal year quarter of the Borrower's fiscal years, a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis Borrower's financial statements as of the end of and for such period in reasonable detail, setting forth in comparative form the corresponding figures for that date and period and for the corresponding date and accounting period in the preceding fiscal year, certified by the Borrower's principal accounting officer. (b) Within 120 days after the end of each fiscal year of the Borrower, the Borrower's audited financial statements as of the end of and for such year of the Borrower in reasonable detail, setting forth in comparative form the corresponding figures for that date and period and for the corresponding date and period in the preceding fiscal year, certified by independent certified public accountants of recognized national standing, whose opinion thereon shall be reasonably satisfactory to the Bank in scope and substance. (c) Within fifteen (15) days after the end of each calendar quarter, accounts receivable aging schedules and inventory status reports for the Borrower and each Subsidiary as of the end of such quarter certified to the Bank standing selected by an authorized officer of the Borrower. (dc) Promptly upon receipt thereof, copies of all other detailed reports (if any) (including, without limitation, any management letters letters) submitted to the Borrower by independent certified public accountants in connection with each annual or interim audit or review of the books of the Borrower by such accountants. (ed) With each delivery required under subparagraphs (a) and (b) above, a compliance certificate in form approved by the Bank executed by an executive officer of the Borrower demonstrating compliance with the Loan Documents. (fe) Promptly upon the occurrence of any Default or Event of Default, a notice thereof, specifying the nature thereof, and promptly upon the occurrence of any event or discovery of any fact which might affect or indicate a material adverse change in the Borrower's financial condition, notice thereof specifying the nature thereof. (gf) Promptly upon becoming available, a copy of all: (i) reports, registration statements and other materials filed by the Borrower with the Securities and Exchange Commission; and (ii) all offering circulars made in connection with any distribution or sale of the Borrower's securities; and (iii) all notices, proxy statements and other materials mailed or distributed to the Borrower's shareholders. (hg) Such other material information as the Bank may from time to time reasonably request.

Financial Statements of the Borrower. The Borrower will deliver to the Bank the following: (a) Within forty-five (45) days after the end of each quarter of the Borrower's fiscal year: (i) a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower; and (ii) a balance sheet and income statement for each of the Borrower and its Subsidiaries on a stand alone basis for each such entity as of the end of and for such period in reasonable detail certified by an authorized officer of the Borrower. (b) Within ninety (90) 45 days after the end of each fiscal year quarter of the Borrower's fiscal years, a balance sheet, income statement and statement of cash flows for the Borrower and its Subsidiaries on a consolidated basis Borrower's financial statements as of the end of and for such period in reasonable detail, setting forth in comparative form the corresponding figures for that date and period and for the corresponding date and accounting period in the preceding fiscal year, certified by the Borrower's chief financial officer. (b) Within 120 days after the end of each fiscal year of the Borrower, the Borrower's audited financial statements as of the end of and for such year of the Borrower in reasonable detail, setting forth in comparative form the corresponding figures for that date and period and for the corresponding date and period in the preceding fiscal year, certified by independent certified public accountants of recognized national standing, whose opinion thereon shall be reasonably satisfactory to the Bank in scope and substance. (c) Within fifteen (15) days after the end of each calendar quarter, accounts receivable aging schedules and inventory status reports for the Borrower and each Subsidiary as of the end of such quarter certified to the Bank standing selected by an authorized officer of the Borrower. (dc) Promptly upon receipt thereof, copies of all other detailed reports (if any) (including, without limitation, any management letters letters) submitted to the Borrower by independent certified public accountants in connection with each annual or interim audit or review of the books of the Borrower by such accountants. (ed) With each delivery required under subparagraphs (a) and (b) above, a compliance certificate in form approved by the Bank executed by an executive officer of the Borrower demonstrating compliance with the Loan Documents. (fe) Promptly upon the occurrence of any Default or Event of Default, a notice thereof, specifying the nature thereof; and promptly upon the occurrence of any event or discovery of any fact which might affect or indicate a material adverse change in the Borrower's financial condition, notice thereof specifying the nature thereof. (gf) Promptly upon becoming available, a copy of all: (i) reports, registration statements and other materials filed by the Borrower with the Securities and Exchange Commission; and (ii) all offering circulars made in connection with any distribution or sale of the Borrower's securities; and (iii) all notices, proxy statements and other materials mailed or distributed to the Borrower's shareholders. (hg) Such other material information as the Bank may from time to time reasonably request.