Common use of Financial Statements, Reports and Certificates Clause in Contracts

Financial Statements, Reports and Certificates. (i) Borrower will deliver to Lender within one hundred and twenty (120) days of the close of each fiscal year of Borrower, Borrower’s complete unaudited financial statements including a balance sheet, income statement, statement of shareholders’ equity and statement of cash flows; provided that Borrower shall provide a copy of Borrower’s audited financial statements within 5 business days of when the same shall become available to Borrower, each prepared in accordance with generally accepted accounting principles consistently applied, certified by a recognized firm of certified public accountants reasonably satisfactory to Lender (it being agreed that PricewaterhouseCoopers LLP or any of the other “big four” accounting firms is satisfactory to Lender). (ii) Borrower will deliver to Lender copies of Borrower’s quarterly unaudited financial statements including a balance sheet, income statement and statement of cash flows, each prepared by Borrower in accordance with generally accepted accounting principles consistently applied (except for the absence of notes thereto and of normal year-end audit adjustments) within sixty (60) days after the close of each of Borrower’s fiscal quarters. (iii) Borrower will deliver to Lender copies of Borrower’s monthly unaudited financial statements including a company prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period, within thirty (30) days after the close of each month. (iv) So long as there are amounts due Lender under this Loan, Borrower shall supply Lender with such other financial and operating performance data as is provided to its outside investors or commercial lenders and, if applicable, required to be provided to shareholders by the Security and Exchange Commission.

Financial Statements, Reports and Certificates. Debtor shall deliver to Secured Party via electronic mail to electronic mail addresses provided by Secured Party from time to time notifying Secured Party of the posting by the Debtor on the internet (Debtor’s website or via the EXXXX System maintained by the Securities and Exchange Commission (the “SEC”)) or electronic copies of the Debtor’s (i) Borrower will deliver to Lender within one hundred and twenty (120) days of the close of each fiscal year of Borrower, Borrower’s complete quarterly unaudited financial statements including a balance sheetsheets, income statementstatements and cash flow statements and (ii) annual audited balance sheets, statement of shareholders’ equity income statements and statement of cash flows; provided that Borrower shall provide a copy of Borrower’s audited financial statements within 5 business days of when the same shall become available to Borrower, each prepared in accordance with generally accepted accounting principles consistently appliedflow statements, certified without qualification (other than the inclusion of a going concern opinion) by a recognized firm of certified public accountants reasonably satisfactory accountants, within 5 business days after the statements are filed with the SEC. All such statements are to Lender be prepared according to GAAP (it being agreed that PricewaterhouseCoopers LLP or any subject, in the case of the other “big four” accounting firms is satisfactory to Lender). (ii) Borrower will deliver to Lender copies of Borrower’s quarterly unaudited financial statements including a balance sheetstatements, income statement and statement of cash flows, each prepared by Borrower in accordance with generally accepted accounting principles consistently applied (except for to the absence of notes thereto footnotes and of normal year-year end audit adjustments) within sixty and in compliance with applicable SEC reporting requirements applicable to the preparation of financial statements. All annual and quarterly financial statements delivered (60or notice of delivery given) pursuant to this Section 5(b) shall be accompanied by a duly completed compliance certificate substantially consistent with the form of document attached hereto as Schedule A signed by Debtor’s chief financial officer or principal financial officer, certifying that at the end of such period, Debtor was in full compliance with all of the terms and conditions of this Agreement. Additionally, Debtor will deliver to Secured Party promptly upon request of Secured Party such other and additional information as Secured Party shall reasonably request from time to time. Debtor will deliver to Secured Party, as soon as available and in any event not later than 60 days after the close end of each fiscal year of BorrowerDebtor, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for such fiscal year of Debtor, (ii) annual financial projections for such fiscal year (on a quarterly basis), together with any related business forecasts used in the preparation of such annual financial projections; in each case, as approved by the Debtor’s fiscal quarters. Board of Directors and (iii) Borrower will deliver to Lender copies of Borrower’s monthly unaudited financial statements including a company prepared balance sheetsuch budgets, income statement and cash flow statement covering Borrower’s operations during such period, within thirty (30) days after the close of each month. (iv) So long as there are amounts due Lender under this Loan, Borrower shall supply Lender with such projections or other financial and operating performance data information as is provided Secured Party may reasonably request from time to its outside investors or commercial lenders and, if applicable, required to be provided to shareholders time generally prepared by Debtor in the ordinary course of business. 2 The phrase “Security Act of 1933” in the last line of Section 7(a)(xvii) of the Security and Agreement is hereby replaced with the phrase “Security Exchange CommissionAct of 1934.”

Financial Statements, Reports and Certificates. (a) Borrower shall deliver to Lender: (i) Borrower will deliver to Lender as soon as available, but in any event within one hundred and twenty (120) 20 days of after the close end of each fiscal year of Borrowercalendar month, Borrower’s complete unaudited financial statements including a internally prepared balance sheet, income statement, statement of shareholders’ equity and statement of cash flows; provided that Borrower shall provide a copy of Borrower’s audited financial statements within 5 business days of when the same shall become available to Borrower, each prepared in accordance with generally accepted accounting principles consistently applied, certified by a recognized firm of certified public accountants reasonably satisfactory to Lender (it being agreed that PricewaterhouseCoopers LLP or any of the other “big four” accounting firms is satisfactory to Lender). (ii) Borrower will deliver to Lender copies of Borrower’s quarterly unaudited financial statements including a balance sheet, income statement and statement of cash flows, each prepared by Borrower in accordance with generally accepted accounting principles consistently applied (except for the absence of notes thereto and of normal year-end audit adjustments) within sixty (60) days after the close of each of Borrower’s fiscal quarters. (iii) Borrower will deliver to Lender copies of Borrower’s monthly unaudited financial statements including a company prepared balance sheet, income statement and cash flow statement flows covering Borrower’s operations during such periodmonth, prepared in accordance with GAAP, consistently applied, and in a form reasonably acceptable to Lender and certified by a Responsible Officer; (ii) as soon as available, but in any event within thirty (30) 40 days after the close end of each month. calendar quarter, internally prepared balance sheet, income statement, and statement of cash flows covering Borrower’s operations during such quarter, prepared in accordance with GAAP, consistently applied, and in a form reasonably acceptable to Lender and certified by a Responsible Officer; (iii) as soon as available, but in any event within 110 days after the end of Borrower’s fiscal year, audited financial statements of Borrower for such fiscal year prepared in accordance with GAAP and in form reasonably acceptable to Lender, consistently applied, together with an opinion which is unqualified or otherwise consented to in writing by Lender on such financial statements of an independent certified public accounting firm reasonably acceptable to Lender; (iv) So long promptly upon receipt of notice thereof, a report of any legal actions pending or threatened in writing against Borrower that could result in damages or costs to Borrower of $50,000 or more, in the aggregate; (v) promptly upon receipt, each management letter prepared by Borrower’s independent certified public accounting firm regarding Borrower’s management control systems; and (vi) in addition to the budget delivered by Borrower to Lender pursuant to Section 6.2(h), as there are amounts due Lender under this Loansoon as available, Borrower shall supply Lender with such budgets, sales projections, operating plans or other financial and operating performance data information generally prepared by Borrower in the Ordinary Course of Business of Borrower as is provided Lender may request from time to time in its outside investors or commercial lenders and, if applicable, required to be provided to shareholders by the Security and Exchange Commissionsole discretion.