Financial Statements; Records. Borrower shall keep adequate books and records of account in accordance with generally accepted accounting principles ("GAAP"), or in accordance with other methods acceptable to Lender in its reasonable discretion, consistently applied, and shall furnish to Lender:
(a) all annual operating statements of the Premises received from [FCH/SH Leasing] [FCH/SH Leasing II] or Sheraton detailing the total revenues received, total expenses incurred, total cost of all capital improvements, total debt service and total cash flow, and certified by [FCH/SH Leasing] [FCH/SH Leasing II] or Sheraton, as appropriate, in the form received by Borrower, or if requested by Lender and to the extent available, an audited annual operating statement prepared and certified by an independent certified public accountant acceptable to Lender, within 120 days after the close of each Fiscal Year of Borrower;
(b) an annual balance sheet and profit and loss statement of Borrower and Guarantor, in a form reasonably approved by Lender, prepared and certified by Borrower or Guarantor as applicable, and, such statements, if requested by Lender and to the extent available, shall be audited financial statements prepared and certified by an independent certified public accountant acceptable to Lender. All statements shall be delivered to Lender within 120 days after the close of each Fiscal Year of Borrower;
(c) annual operating budgets and management plans presented on a monthly basis consistent with the annual operating statements described above for the Premises, including cash flow projections for the upcoming year, and all proposed capital replacements and improvements on or before February 1 of each Fiscal Year;
(d) an annual occupancy and average daily rate statement detailing the occupancy rates and average daily room rates to be prepared and certified by Borrower in a form approved by Lender, within 120 days after the end of each Fiscal Year of Borrower;
(e) an annual FF&E budget which will be submitted by Borrower to Lender, no later than December 30 of each loan year; and
(f) upon request from Lender, the following:
(i) such other financial or management information as may, from time to time, be reasonably required by Lender and in form and substance reasonably satisfactory to Lender; and,
(ii) Borrower's books and records regarding the Premises for examination, review, copying and audit by Lender or its auditors during normal business hours and convenient facilities for such examinat...
Financial Statements; Records. (a) (i) Seller’s consolidated audited financial statements including the financial information as of December 31, 2012, 2011 and 2010 and the related statements of operations and changes in stockholders’ equity and cash flows for the years then ended (the “Audited Financial Statements”), and unaudited financial statements including the balance sheet of Seller as of September 30, 2013 and the related statements of operations and changes in stockholders’ equity and cash flows for the nine-month period then ended (the “Interim Financial Statements”) and (ii) the Consolidated Reports of Condition and Income of Seller that were filed by Seller in 2013 and 2012 ((i) and (ii) collectively, the “Financial Statements”) fairly present in all material respects the financial condition and results of operation for the and as of the periods presented and have been prepared in accordance with GAAP, except that the Interim Financial Statements lack notes thereto and have adjustments as indicated therein.
(b) The Records accurately reflect in all material respects as of their respective dates the Net Book Value of the Assets and Assumed Liabilities being transferred to Purchaser hereunder and all other matters the Records purport to present. The Records include all customary Branch, customer and customer-related information reasonably necessary to service the Deposits on an ongoing basis and as may be required under applicable law.
(c) The allowances for loan and lease losses and for credit losses contained in the Financial Statements and the allowance for loan and lease losses and for credit losses shown on any financial statements delivered in accordance with this Section 5.8, as the case may be, were and will be established in accordance with the practices and experiences of Seller and were and will be adequate under and in accordance with the requirements of GAAP and applicable guidelines issued by the Regulatory Authorities to provide for possible losses on loans (including accrued interest receivable) and credit commitments (including stand-by letters of credit) outstanding as of the date of each such balance sheet.
Financial Statements; Records. Borrower shall keep adequate books and records of account in accordance with GAAP related to real estate, consistently applied, and shall provide to Lender in electronic format, via e-mail and, upon Lender’s request, in hard copy format, to addresses specified by Lender, within the time periods set forth, the following (collectively, the “Financial Information”):
Financial Statements; Records. Borrower shall keep adequate books and records of account in accordance with generally accepted accounting principles related to real estate, consistently applied and shall provide to Administrative Agent in both hard copy and in electronic format, if available, via e-mail to addresses specified by Administrative Agent, within the time periods set forth, the following (collectively, the “Financial Information”):
Financial Statements; Records. Palomar has provided to Centennial the unaudited financial statements for the years ended December 31, 1999 and December 31, 1998 and the Interim Financial Statements, as well as audited financial statements for Palomar for the year ended December 31, 1997, audited by Peat Marwick. Community and Palomar will use their best efforts to deliver to Centennial the Audited Financial Statements on or before February 28, 2001. All such financial statements comply, and the Audited Financial Statements, as audited and when delivered, will comply in all material respects, with applicable accounting requirements and have been prepared in accordance with GAAP, and fairly present the financial position of Palomar as of the dates thereof and the results of its operations and cash flows for the periods then ended. The Records of Palomar accurately and fairly reflect, in all material respects, the business and activities of Palomar.
Financial Statements; Records. 25 4.8 Litigation..................................................26 4.9 Compliance with Laws; Permits and Licenses..................26 4.10 Absence of Certain Changes or Events........................26
Financial Statements; Records. Set forth in Section 4.7 of the Disclosure Schedule are the following financial statements of Banc One Mortgage Corporation (collectively, the "Financial Statements"): unaudited balance sheets as of December 31, 1997 and audited balance sheets as of December 31, 1996 and the related statements of operations, changes in shareholder's equity and cash flows for the years then ended for Seller. Except as otherwise indicated in Section 4.7 of the Disclosure Schedule, the Financial Statements were prepared, and reflect the respective assets and liabilities of Seller, in accordance with GAAP and fairly present the financial position of Banc One Mortgage Corporation as of the dates thereof and the results of Banc One Mortgage Corporation's operations for the periods then ended. Except for liabilities reflected or reserved against in the Financial Statements, or disclosed or permitted elsewhere in this Agreement, Banc One Mortgage Corporation has no, and the Purchased Assets are not subject to any, material liability or material obligation of any nature which is required by GAAP to be reflected in any Financial Statement.
Financial Statements; Records. Parent will not cause and Subsidiary will not make any material change in the methods of accounting or accounting practices applied in connection with the Financial Statements or any of the accounting records of Subsidiary.
Financial Statements; Records. Borrower shall keep adequate books and records of account in accordance with the Uniform System of Accounts and shall provide to Lender in both hard copy and in electronic format, if available, via e-mail to addresses specified by Lender, within the time periods set forth, the following (collectively, the “Financial Information”):
Financial Statements; Records. Borrower shall keep adequate books and records of account in accordance with generally accepted accounting principles ("GAAP"), or in accordance with other methods acceptable to Lender in its sole discretion, consistently applied, and shall furnish to Lender the
