Common use of Form of financial statements Clause in Contracts

Form of financial statements. (a) The Borrower must ensure that each set of its financial statements supplied under this Agreement: (i) gives (if audited) a true and fair view of, or (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Borrower must notify the Lender of any material change to the manner in which its financial statements are prepared. (c) If requested by the Lender, the Borrower must supply: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent financial statements delivered to the Lender under this Agreement. (d) If requested by the Lender, the Borrower must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower and the Lender in the same position as they would have been in if the change had not happened. Any agreement between the Borrower and the Lender will be binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower must ensure that its independent auditors certify those amendments; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Borrower must ensure that each set of its financial statements supplied under this Agreement: (i) gives (if audited) a true and fair view of, or Agreement (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Borrower must notify the Lender of any material change to the manner in which its financial statements are prepared. (c) If requested by the Lender, the Borrower must supplysupply to such party: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent financial statements delivered to the Lender Lender, as the case may be, under this Agreement. (d) If Following any change to the manner in which the Borrower’s financial statements are prepared, if requested by the Lender, the Borrower must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower and the Lender in the same position as they would have been in if the change had not happened. Any agreement between the Borrower and the Lender will be binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower must ensure that one of its independent auditors directors certify those amendments; the such certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Each Borrower must ensure that each set of its financial statements supplied under this Agreement: (i) gives (if audited) a true and fair view of, or (if unaudited) Agreement fairly represents, represents the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Representative Borrower must notify the Lender Facility Agent of any material change to the manner in basis on which its audited financial statements are prepared. (c) If requested by the LenderFacility Agent, the Representative Borrower must supplysupply or procure that the following are supplied to the Facility Agent: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender Facility Agent to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent audited consolidated financial statements delivered to the Lender Facility Agent under this Agreement. (d) If requested by the LenderFacility Agent, the Representative Borrower must enter into discussions for a period of not more than 30 thirty (30) days with a view to agreeing to any amendments required to be made to this Agreement to place the Borrower and the Lender Facility Agent in the same position as they it would have been in if the change had not happened. Any agreement between the Representative Borrower and the Lender Facility Agent will be be, with the prior consent of the Majority Lenders, binding on all the Partiesparties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Representative Borrower must ensure that its independent auditors certify those amendments; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Borrower Parent must ensure that each set of its financial statements supplied under this Agreement: (i) Agreement gives (if audited) a true and fair view of, or (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Borrower Parent must notify the Lender Facility Agent of any material change to the manner in which its audited consolidated financial statements are prepared. (c) If requested by the LenderFacility Agent, the Borrower Parent must supplysupply to the Facility Agent: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender Finance Parties to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent audited consolidated financial statements delivered to the Lender Facility Agent under this Agreement. (d) If requested by the LenderFacility Agent, the Borrower Parent must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower Parent and the Lender Lenders in the same position as they would have been in if the change had not happened. Any agreement between the Borrower Parent and the Lender Facility Agent will be be, with the prior consent of the Majority Lenders, binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower Parent must ensure that its independent auditors certify those amendments; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Borrower Parent must ensure that each set of its financial statements supplied under this Agreement: (i) Agreement gives (if audited) a true and fair view of, or (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Borrower Parent must notify the Lender Facility Agent of any material change to the manner in basis on which its audited consolidated financial statements are prepared. (c) If requested by the LenderFacility Agent (acting on the instructions of the Majority Lenders), the Borrower Parent must supplysupply to the Facility Agent: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender Finance Parties to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent audited consolidated financial statements delivered to the Lender Facility Agent under this Agreement. (d) If requested by the Lender, Facility Agent (acting on the Borrower instructions of the Majority Lenders) the Parent must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower Obligors and the Lender Lenders in the same position as they would have been in if the change had not happened. Any agreement between the Borrower Parent and the Lender Facility Agent will be be, with the prior consent of the Majority Lenders, binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower Parent must ensure that supply with each set of its independent auditors certify those amendments; financial statements another set of its financial statements prepared on the certificate of same basis as the independent auditors will be, in the absence of manifest error, binding on all the PartiesOriginal Financial Statements.

Form of financial statements. (a) The Each Borrower and Danaos must ensure that each set of its financial statements supplied under this Agreement: (i) Agreement gives (if audited) a true and fair view of, or (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Each Borrower and Danaos must notify the Lender of any material change to the manner in basis on which its audited financial statements are prepared. (c) If requested by the Lender, the each Borrower must supplysupply or procure that the following are supplied to the Lender: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent audited consolidated financial statements delivered to the Lender under this Agreement. (d) If requested by the Lender, the each Borrower and Danaos must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower and the Lender in the same position as they it would have been in if the change had not happened. Any agreement between the Borrower and the Lender will be binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the each Borrower must ensure that its independent auditors certify those amendments; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Borrower Each Obligor must ensure that each set of its financial statements supplied by it under this Agreement: (i) Agreement gives (if audited) a true and fair view of, or (if unaudited) fairly represents, the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared in accordance with accounting principles and practices generally accepted in its jurisdiction of incorporation. (b) The Borrower Each Obligor must notify the Lender Facility Agent of any material change to the manner in basis on which its the audited financial statements supplied by it are prepared. (c) If requested by the LenderFacility Agent, each Obligor must supply or procure that the Borrower must supplyfollowing are supplied to the Facility Agent: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender Facility Agent to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its the most recent audited consolidated financial statements delivered by that Obligor to the Lender Facility Agent under this Agreement. (d) If requested by the LenderFacility Agent, the Borrower each Obligor must enter into discussions for a period of not more than 30 days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower and the Lender Facility Agent in the same position as they it would have been in if the change had not happened. Any agreement between the Borrower and the Lender will be binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower each Obligor must ensure that its independent auditors certify those amendments; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.

Form of financial statements. (a) The Borrower must ensure that each set of its financial statements supplied under this Agreement: (i) gives (if audited) a true and fair view of, or (if unaudited) Agreement fairly represents, the financial condition (consolidated or otherwise) of the Borrower relevant person as at the date to which those financial statements were drawn up; and (ii) is prepared up and in accordance with accounting principles GAAP (subject, in the case of the quarterly financial statements, to normal year end audit adjustments and practices generally accepted in its jurisdiction the absence of incorporationfootnotes). (b) The Borrower must notify the Lender Facility Agent of any material change to the manner in basis on which its audited financial statements are prepared. (c) If requested by the LenderFacility Agent, the Borrower must supplysupply or procure that the following are supplied to the Facility Agent: (i) a full description of any change notified under paragraph (b) above; and (ii) sufficient information to enable the Lender Finance Parties other than the Security Trustee to make a proper comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent audited consolidated financial statements delivered to the Lender Facility Agent under this Agreement. (d) If requested by the LenderFacility Agent or any Obligor, each Obligor or the Borrower Facility Agent must enter into discussions for a period of not more than 30 thirty (30) days with a view to agreeing any amendments required to be made to this Agreement to place the Borrower Finance Parties and the Lender Obligors in the same position as they would have been in if the change had not happened. Any agreement between the Borrower and the Lender will be binding on all the Parties. (e) If no agreement is reached under paragraph (d) above on the required amendments to this Agreement, the Borrower each Obligor must ensure that its independent auditors certify those amendmentsthe changes to the basis on which the financial statements are prepared; the certificate of the independent auditors will be, in the absence of manifest error, binding on all the Parties.