Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank; (b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP; (c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary; (d) as soon as available and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred to as the “Yellow Book” statements) and certified by an officer of the applicable Insurance Subsidiary; (e) as soon as available and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year and the’ related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably acceptable to Bank; (f) as soon-as available, copies of all financial statements related to Company and/or any of its Subsidiaries filed with any Regulatory Agency; (g) as soon as available and to the extent not previously furnished to Bank, copies of all reports with respect to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periods.
Appears in 2 contracts
Samples: Credit Agreement (Conifer Holdings, Inc.), Credit Agreement (Conifer Holdings, Inc.)
Furnish Bank. (a) as soon as available, but in any event not later than within one hundred fifty twenty (150120) days after and as of the end of each fiscal year of Company Borrower, a copy Consolidated balance sheet and statement of profit and loss and changes in cash flow of the Borrower and its Consolidated Subsidiaries prepared on an audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects basis in accordance with GAAP by one the requirements of the “Big Four” SEC by independent certified public accounting firms or by any other recognized certified public accountant reasonably accountants satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy within forty five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (15045) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiaryquarter, a copy- consolidated and consolidating balance sheet and consolidated and consolidating statement of such Insurance Subsidiary’s profit and loss and changes in cash flow of Borrower and its Consolidated Subsidiaries prepared in accordance with the requirements of the SEC certified by an authorized officer of Borrower as being correct and accurate to the best of his knowledge (if Bank in its sole discretion deems the consolidating financial statements required by this subsection (b) to be not sufficiently detailed, Bank reserves the right to require separate financial statements for each Subsidiary, reviewed by certified public accountants acceptable to Bank in form and content acceptable to Bank);
(c) so long as Borrower or Parent shall be required to file reports with the preceding fiscal yearSEC, including a balance sheet promptly upon transmission thereof, copies of all such financial statements, proxy statements, notices and reports as it shall send to its public stockholders generally and copies of all registration statements (without exhibits) and all reports which it files with the SEC;
(d) within three (3) days after and as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared week a borrowing base report in accordance with SAP (commonly referred form satisfactory to as the “Yellow Book” statements) and certified by an officer of the applicable Insurance SubsidiaryBank;
(e) as soon as available and in any event not later than June on or before August 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for any foreign credit insurance policy then in effect with respect to which Borrower or any Subsidiary is the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year and the’ related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably acceptable to Bankbeneficiary;
(f) as soon-as availablepromptly upon receipt thereof, copies of all financial statements related management letters prepared with respect to Company and/or Borrower by any of its Subsidiaries filed with any Regulatory Agencyindependent certified public accountants;
(g) such information as soon as available required by the terms and conditions of any security agreements referred to the extent not previously furnished in this Agreement;
(h) promptly, and in form to be satisfactory to Bank, copies such other information as Bank may reasonably request from time to time;
(i) on or before October 1 of all reports with respect each year an inventory appraisal in form satisfactory to Company and/or any of its Subsidiaries Bank prepared by any Regulatory Agency or rating agency; all such financial statements an appraiser satisfactory to be complete and correct in all material respects and Bank utilizing an appraisal method which is acceptable to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodsBank.
Appears in 1 contract
Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty within ninety-five (15095) days after and as of the end of each fiscal year of Company the Company) a copy of the audited Consolidated and Consolidating financial statements of Company and its Subsidiaries as at the end of the preceding fiscal such year and the related audited statements of income, accumulated earnings, and cash flows for such yearyear and underlying assumptions, setting forth in each case in comparative form the figures for the previous year, with an opinion satisfactory to the Bank and certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” a nationally recognized certified public accounting firms or by any other recognized certified public accountant firm reasonably satisfactory to Bankthe Bank (including Company's current auditors, Deloitte & Touche, LLP), it being understood and agreed that the delivery by Company of the Company's form 10-K as filed with the Securities and Exchange Commission ("SEC") for the respective fiscal year and within ninety (90) days after the close thereof shall satisfy the provisions of this clause (a) to the extent that such form 10-K contains the information and/or certification required to be delivered pursuant to this clause (a) and, to the extent that any such information and/or certification is not otherwise contained in such form 10-K, such information and/or certification shall be delivered together with the respective form 10-K;
(b) as soon as available, but in any event not later than seventy five fifty (7550) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30of Company, 2014), the Company prepared unaudited Consolidated and Consolidating financial statements of Company and its Subsidiaries as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company and its Subsidiaries for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by Company; it being understood and agreed that the treasurer delivery by Company of Company the Company's form 10-Q as being fairly stated filed with the SEC for the respective fiscal quarter and within forty five (45) days after the close thereof shall satisfy the provisions of this clause (b) to the extent that such form 10-Q contains the information and/or certification required to be delivered pursuant to this clause (b) and, to the extent that any such information and/or certification is not otherwise contained in all material respects and as having been prepared in accordance such form 10-Q, such information and/or certification shall be delivered together with GAAPthe respective form 10-Q;
(c) as soon as available and in any event within seventy five (75) days after concurrently with the end delivery of each fiscal quarter of the financial statements required by Section 7.1(a) and (excluding the fourth fiscal quarter of each fiscal year)b) hereof, a copy statement prepared and certified by the chief financial officer of each Insurance Subsidiary’s financial statements for Company (or in such fiscal quarterofficer's absence, including a balance sheet responsible senior officer of Company)
(i) stating that as of the end date thereof, no condition or event which constitutes a Default hereunder or which with the running of time and/or the giving of notice would constitute an Event of Default hereunder has occurred and is continuing, or if any such fiscal quarter event or condition has occurred and is continuing or exists, specifying in detail the related statements nature and period of income existence thereof and retained earnings for any action with respect thereto taken or contemplated to be taken by Company and (ii) stating that the signer has personally reviewed this Agreement and that such fiscal quarter, each prepared in accordance with SAP and certified by certificate is based on an officer of the applicable Insurance Subsidiary;examination sufficient to assure that such certificate is accurate; and
(d) as soon as available promptly, and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred form to as the “Yellow Book” statements) and certified by an officer of the applicable Insurance Subsidiary;
(e) as soon as available and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year and the’ related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant be reasonably acceptable to Bank;
(f) as soon-as available, copies of all financial statements related to Company and/or any of its Subsidiaries filed with any Regulatory Agency;
(g) as soon as available and to the extent not previously furnished satisfactory to Bank, copies of all reports with respect such other information as Bank may reasonably request from time to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agencytime; all such financial statements required to be delivered under this Section 7.1 to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and consistent with prior periodsperiods (except as approved by such officer and disclosed therein).
Appears in 1 contract
Samples: Credit Agreement (Compuware Corp)
Furnish Bank. (a) prompt notification of any condition or event which constitutes or with the running of time and/or the giving of notice would constitute an Event of Default under this Agreement, and promptly inform the Bank of any material adverse change in any of the Companies' or any Subsidiary's financial condition;
(b) as soon as available, but available and in any event not later than one hundred fifty (150) within 30 days after and as of the end of each fiscal year month, the consolidated and consolidating balance sheets and statements of Company a copy profit and loss and surplus of the audited Consolidated Companies and Consolidating their consolidated Subsidiaries, duly certified (subject to year-end audit adjustments) by the chief financial statements officer of Company as at the end each of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and Companies as having been prepared in accordance with GAAPGAAP consistent with those applied in the preparation of the financial statements referred to in Section 6.6;
(c) as soon as available and in any event within seventy five (75) 30 days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet and as of the end of such fiscal quarter each month, the balance sheet and the related statements of income profit and retained earnings for such fiscal quarter, each loss and surplus of the Parent Guarantor duly certified (subject to year-end audit adjustments) by the chief financial officer of Parent Guarantor as having been prepared in accordance with SAP and certified the GAAP consistent with those applied by an officer Arcadia in the preparation of the applicable Insurance Subsidiaryfinancial statements referred to in Section 6.6;
(d) as soon as available and in any event not later than one hundred fifty (150) within 120 days after and as of the end of each fiscal year of Companythe Companies, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s consolidated and consolidating audited financial statements for the preceding fiscal yearof Companies and their consolidated Subsidiaries, including a balance sheet as of the end of such fiscal year and the related sheet, statements of income and retained earnings and changes in financial position for such fiscal year, each prepared in accordance with SAP (commonly referred to as the “Yellow Book” statements) GAAP and certified by an officer of independent certified public accountants reasonably acceptable to the applicable Insurance SubsidiaryBank;
(e) as soon as available and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet within 120 days after and as of the end of such each fiscal year and the’ related of the Parent Guarantor, the financial statements of the Parent Guarantor, including a balance sheet, statements of income and retained earnings and changes in financial position for such fiscal year, each prepared in accordance with SAP the GAAP and certified as being fairly stated in all material respects by one of the “Big Four” independent certified public accounting firms or by any another recognized certified public accountant accountants reasonably acceptable to Bank;
(f) within ten (10) days after and as soon-as availableof the end of each month, copies a detailed aging of all financial statements related Accounts and accounts payable and an inventory report in form acceptable to Company and/or any Bank, certified by an officer of its Subsidiaries filed with any Regulatory Agencyeach of the Companies;
(g) on Thursday of each week and as soon as available and to of Thursday of the extent not previously furnished previous week, a borrowing base report in form acceptable to Bank, copies certified by an officer of all reports with respect each of the Companies;
(h) on or before April 30 of each year and as of a date not more than 60 days prior thereto, an updated personal financial statement for each Individual Guarantor in form acceptable to Company and/or Bank and certified by such Guarantor as to accuracy and completeness;
(i) such information as required by the terms and conditions of the Advance Formula Agreement and any security agreements referred to in this Agreement; and
(j) from time to time, such further information regarding the business affairs and financial condition of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, the Companies as applicable, throughout the periods reflected therein and with prior periodsBank may reasonably request.
Appears in 1 contract
Furnish Bank. (a) prompt notification of any condition or event which constitutes or with the running of time and/or the giving of notice would constitute an Event of Default under this Agreement, and promptly inform the Bank of any material adverse change in any of the Companies’ or any Subsidiary’s financial condition;
(b) as soon as available, but available and in any event not later than one hundred fifty (150) within 30 days after and as of the end of each fiscal year month, the consolidated and consolidating balance sheets and statements of Company a copy profit and loss and surplus of the audited Consolidated Companies and Consolidating their consolidated Subsidiaries, duly certified (subject to year-end audit adjustments) by the chief financial statements officer of Company as at the end each of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and Companies as having been prepared in accordance with GAAPGAAP consistent with those applied in the preparation of the financial statements referred to in Section 4.6;
(c) as soon as available and in any event within seventy five (75) 45 days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet and as of the end of such fiscal quarter each month, the balance sheet and the related statements of income profit and retained earnings for such fiscal quarterloss and surplus of Arcadia Resources, each Inc. and its Consolidated Subsidiaries duly certified (subject to year-end audit adjustments) by the chief financial officer of Arcadia Resources, Inc. as having been prepared in accordance with SAP and certified the GAAP consistent with those applied by an officer Arcadia in the preparation of the applicable Insurance Subsidiaryfinancial statements referred to in Section 4.6;
(d) as soon as available and in any event not later than one hundred fifty (150) within 90 days after and as of the end of each fiscal year of Companythe Companies, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s consolidated and consolidating audited financial statements for the preceding fiscal yearof Companies and their consolidated Subsidiaries, including a balance sheet as of the end of such fiscal year and the related sheet, statements of income and retained earnings and changes in financial position for such fiscal year, each prepared in accordance with SAP (commonly referred to as the “Yellow Book” statements) GAAP and certified by an officer of independent certified public accountants reasonably acceptable to the applicable Insurance SubsidiaryBank;
(e) as soon as available and in any event not later than June 1 within 90 days after and as of the end of each yearfiscal year of Arcadia Resources, for each Insurance SubsidiaryInc., a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year Nevada corporation (commencing with the fiscal year ending December 31, 2010“Resources”), including a balance sheet (i) Resources’ form 10-K as of the end of such fiscal year year, and the’ related (ii) financial statements of Resources and its subsidiaries, including a balance sheet, statements of income and retained earnings and changes in financial position for such fiscal year, each prepared on a consolidated and consolidating basis in accordance with SAP GAAP, in such detail as Bank may reasonably require, and certified as being fairly stated in all material respects audited by one of the “Big Four” independent certified public accounting firms or accountants of recognized standing selected by any another recognized certified public accountant reasonably Resources and acceptable to Bank;
(f) within ten (10) days after and as soon-as availableof the end of each month, copies a detailed aging of Accounts and accounts payable, an inventory report and a borrowing base report all financial statements related in form acceptable to Company and/or any Bank, certified by an officer of its Subsidiaries filed with any Regulatory Agencyeach of the Companies;
(g) on Friday of each week and as soon as available and to of Friday of the extent not previously furnished previous week, a borrowing base report in form acceptable to Bank, copies certified by an officer of all reports with respect each of the Companies;
(h) such information as required by the terms and conditions of the Advance Formula Agreement and any security agreements referred to Company and/or any in this Agreement; and
(i) from time to time, such further information regarding the business affairs and financial condition of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, the Companies as applicable, throughout the periods reflected therein and with prior periodsBank may reasonably request.
Appears in 1 contract
Furnish Bank. (ai) as soon as available, but in any event not later than one hundred fifty within ninety (15090) days after and as of the end of each the undersigned's fiscal year of Company a copy of the audited Consolidated and Consolidating years, financial statements of Company as at the end undersigned on a consolidated and consolidating basis containing the balance sheet of the preceding undersigned as of the close of each such fiscal year and the related audited year, statements of income, accumulated earnings, income and retained earnings and a statement of cash flows for each such fiscal year, setting forth and such other comments and financial details as are usually included in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects similar reports. Such reports shall be prepared in accordance with GAAP by one independent certified public accountants of recognized standing selected by the undersigned and acceptable to Bank and shall contain unqualified opinions as to the fairness of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bankstatements therein contained;
(bii) as soon as available, but in any event not later than seventy five within thirty (7530) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30month, 2014), the unaudited Consolidated and Consolidating financial statements on a consolidated and consolidating basis containing the balance sheet of Company the undersigned as at of the end of each such fiscal quarter period and the related unaudited statements of income, accumulated earnings and cash flows income of Company the undersigned for the portion of the fiscal year through up to the end of such fiscal quarter, setting forth period. These statements shall be prepared on the same accounting basis as the statements required in each case paragraph (i) above and shall be in comparative form such detail as the figures for the previous yearBank may reasonably require, and the accuracy of the statements shall be certified by the treasurer chief executive or financial officer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAPthe undersigned;
(ciii) promptly, upon becoming available, a copy of all financial statements, reports, notices, proxy statements and other communications sent by the undersigned or any of its subsidiaries to their stockholders, and all regular and periodic reports filed by the undersigned or any of its subsidiaries with any securities exchange, the Securities and Exchange Commission, and any state securities bureau or commission;
(iv) as soon as available and in any event within seventy five thirty (7530) days after the end of each fiscal quarter of the undersigned, and ninety (excluding 90) days after the fourth fiscal quarter of each fiscal yearyear end, a report in such detail as Bank may specify demonstrating the undersigned's compliance with Sections 15 (g), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter(h), including a balance sheet as of the end of such fiscal quarter (i) and the related statements of income and retained earnings for such fiscal quarter(j) hereof, each prepared in accordance with SAP and certified by an authorized officer of the applicable Insurance Subsidiary;undersigned,; and
(dv) as soon as available promptly, and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred form to as the “Yellow Book” statements) and certified by an officer of the applicable Insurance Subsidiary;
(e) as soon as available and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year and the’ related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably acceptable to Bank;
(f) as soon-as available, copies of all financial statements related to Company and/or any of its Subsidiaries filed with any Regulatory Agency;
(g) as soon as available and to the extent not previously furnished be satisfactory to Bank, copies of all reports with respect such other information as Bank may reasonably request from time to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodstime.
Appears in 1 contract
Samples: Guaranty (Datron Systems Inc/De)
Furnish Bank. (a) as soon as available, but and in any event not later than one hundred fifty twenty (150120) days after and as of the end of each fiscal year of Company a copy Holdings, copies of the audited 10K reports filed by Holdings with the United States Securities and Exchange Commission, which shall include Consolidated and Consolidating financial statements of Company Holdings and its Consolidated Subsidiaries for and as at of the end of each such fiscal year, containing the preceding balance sheets of Holdings and its Consolidated Subsidiaries as of the close of each such fiscal year and the related audited year, statements of income, accumulated earningsincome and retained earnings and a statement of cash flows of Holdings and its Consolidated Subsidiaries for each such fiscal year, and cash flows for such year, setting forth other comments and financial details as are usually included in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects similar reports. Such financial statements shall be prepared in accordance with GAAP generally accepted accounting principles consistently applied (“GAAP”), shall be in such detail as Bank may reasonably require, and shall be audited by one of the “Big Four” independent certified public accounting firms or accountants of recognized standing selected by any other recognized certified public accountant reasonably satisfactory Holdings and acceptable to Bank;
(b) as soon as available, but in any event not later than seventy within forty-five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (15045) days after and as of the end of each fiscal year quarter (including the last fiscal quarter of Companyeach fiscal year), copies of all 10Q reports for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s Holdings and its Consolidated Subsidiaries filed with the United States Securities and Exchange Commission which shall include Consolidated and Consolidating financial statements for of Holdings and its Consolidated Subsidiaries, containing the preceding fiscal year, including a balance sheet sheets of Holdings and its Consolidated Subsidiaries as of the end of each such fiscal year and the related quarter, statements of income and retained earnings and a statement of cash flows for Holdings and its Consolidated Subsidiaries for such quarter and for the portion of the fiscal yearyear of Holdings and its Consolidated Subsidiaries through the end of the fiscal quarter ending, each and such other comments and financial details as are usually included in similar reports. Such financial statements shall be prepared by Holdings and its Consolidated Subsidiaries in accordance with SAP (commonly referred GAAP, and shall be certified as to as accuracy and fairness by the “Yellow Book” statements) and certified by an chief executive or chief financial officer of the applicable Insurance SubsidiaryHoldings and its Consolidated Subsidiaries;
(ec) as soon as available within twenty-five (25) days after and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year each month, detailed agings of the Borrowing Base Companies’ Accounts and the’ related statements of income accounts payable and retained earnings for such fiscal yeara Borrowing Base Report, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably form acceptable to Bank;; and
(fd) as soon-as availablepromptly, copies of all financial statements related and in form to Company and/or any of its Subsidiaries filed with any Regulatory Agency;
(g) as soon as available and to the extent not previously furnished be satisfactory to Bank, copies of all reports with respect such other information as Bank may reasonably request from time to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodstime.”
Appears in 1 contract
Samples: Second Amended and Restated Credit Agreement (Manitex International, Inc.)
Furnish Bank. (a) as soon as available, but in any event not later than within one hundred fifty twenty (150) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (150120) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- detailed audit report of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet Company certified by BDO Xxxxxxx LLP or other independent certified public accountants reasonably satisfactory to Bank and accompanied by any management letter received by Company from its auditors;
(b) within one hundred twenty (120) days after and as of the end of such each fiscal year of Intcomex, Inc., a detailed Consolidated and Consolidating audit report of Intcomex, Inc. and its Consolidated Subsidiaries certified by BDO Xxxxxxx LLP or other independent certified public accountants satisfactory to Bank and accompanied by any management letter received by Intcomex, Inc. from its auditors;
(c) within thirty (30) days after and as of the related end of each month, balance sheets and statements of income profit and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred to as the “Yellow Book” statements) loss and surplus reconciliation of Company certified by an authorized officer of Company as being correct and accurate to the applicable Insurance Subsidiarybest of his knowledge;
(d) within ten (10) days after and as of the end of each month, (i) the monthly aging of Company’s Accounts on an invoice date basis, (ii) the monthly aging of Company’s accounts payable on an invoice date basis, (iii) an inventory report for Company and the Designated Affiliates in form reasonably satisfactory to Bank and (iv) a report of insurance with respect to Eligible Insured Foreign Accounts in form reasonably satisfactory to Bank;
(e) as soon as available and in any event not later than June 1 of each year, for each Insurance Subsidiary, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year within ten (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of 10) days after the end of such fiscal year and the’ related statements each month, a borrowing base certificate in the form annexed hereto as Exhibit “C”, with appropriate insertions certified by an authorized officer of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified Company as being fairly stated in all material respects by one correct and accurate to the best of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably acceptable to Bank;such officer’s knowledge; and
(f) such information as soon-as available, copies required by the terms and conditions of all financial statements related any Security Agreements referred to Company and/or any of its Subsidiaries filed with any Regulatory Agency;
(g) as soon as available and to the extent not previously furnished to Bank, copies of all reports with respect to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodsthis Agreement.
Appears in 1 contract
Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five one hundred twenty (75120) days after the end of each of Company's fiscal quarter (excluding the fourth fiscal quarter of each fiscal year)years, a copy of each Insurance Subsidiary’s its consolidated and consolidating financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet sheets as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred generally accepted accounting principles and practices consistently applied and, with respect to as the “Yellow Book” statements) and such consolidated statements only, audited by Deloitte & Touche or other independent certified by an officer of the applicable Insurance Subsidiarypublic accountants reasonably acceptable to Bank;
(eb) as soon as available and in any event not later than June 1 within forty five (45) days after the end of each year, for each Insurance Subsidiaryof Company's fiscal quarters, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a its consolidating balance sheet as of the end of such fiscal year sheets and the’ related consolidating statements of income and retained earnings for such fiscal yearquarter, each prepared in accordance with SAP generally accepted accounting principles and practices consistently applied and certified (subject to year-end audit adjustments) by an officer of Company; together with a certification by an officer of Company to the effect that there has been no event of default under this Agreement and that the representations and warranties set forth in this Agreement are true as being fairly stated in all material respects by one of the “Big Four” certified date of such certification;
(c) as soon as available, Company's 10-Q and 10-K Reports filed with the Federal Securities and Exchange Commission, and as soon as available, copies of all other documents filed by Company with the Securities and Exchange Commission or other federal regulatory or taxing agencies or authorities;
(d) promptly as issued, all press releases, notices to shareholders and all other material written communications transmitted to the general public accounting firms or by any another recognized certified public accountant reasonably acceptable to the trade or industry in which Company is engaged;
(e) within forty five (45) days after the end of each fiscal quarter, an order backlog report, a deferred program cost and tooling report, each in form satisfactory to Bank;
(f) within forty five (45) days after and as soon-as availableof the end of each fiscal quarter, copies of all financial statements related an accounts receivable aging report in form satisfactory to Company and/or any of its Subsidiaries filed with any Regulatory AgencyBank;
(g) from time to time, such further information regarding the business affairs and financial condition of Company or any of its subsidiaries as soon as available and the Bank may reasonably request;
(h) not later than fifteen (15) days prior to the extent not previously furnished to Bankfirst day of each fiscal year of Company, copies of all reports an annual budget with respect to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements fiscal year in form satisfactory to be complete Bank and correct in specifying all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodsassumptions on which such budget is based.
Appears in 1 contract
Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five one hundred twenty (75120) days after the end of each of Company's fiscal quarter (excluding the fourth fiscal quarter of each fiscal year)years, a copy of each Insurance Subsidiary’s its consolidated and consolidating financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet sheets as of the end of such fiscal year and the related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred generally accepted accounting principles and practices consistently applied and, with respect to as the “Yellow Book” statements) and such consolidated statements only, audited by Deloitte & Touche or other independent certified by an officer of the applicable Insurance Subsidiarypublic accountants reasonably acceptable to Bank;
(eb) as soon as available and in any event not later than June 1 within forty five (45) days after the end of each year, for each Insurance Subsidiaryof Company's fiscal quarters, a copy of such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a its consolidating balance sheet as of the end of such fiscal year sheets and the’ related consolidating statements of income and retained earnings for such fiscal yearquarter, each prepared in accordance with SAP generally accepted accounting principles and practices consistently applied and certified (subject to year-end audit adjustments) by an officer of Company; together with a certification by an officer of Company to the effect that there has been no event of default under this Agreement and that the representations and warranties set forth in this Agreement are true as being fairly stated in all material respects by one of the “Big Four” certified date of such certification;
(c) as soon as available, Company's 10-Q and 10-K Reports filed with the Federal Securities and Exchange Commission, and as soon as available, copies of all other documents filed by Company with the Securities and Exchange Commission or other federal regulatory or taxing agencies or authorities;
(d) promptly as issued, all press releases, notices to shareholders and all other material written communications transmitted to the general public accounting firms or by any another recognized certified public accountant reasonably acceptable to the trade or industry in which Company is engaged;
(e) within forty five (45) days after the end of each fiscal quarter, an order backlog report, a deferred program cost and tooling report, each in form satisfactory to Bank;
(f) within forty five (45) days after and as soon-as availableof the end of each fiscal quarter, copies of all financial statements related an accounts receivable aging report in form satisfactory to Company and/or any of its Subsidiaries filed with any Regulatory AgencyBank;
(g) from time to time, such further information regarding the business affairs and financial condition of Company or any of its subsidiaries as soon as available and the Bank may reasonably request;
(h) not later than fifteen (15) days prior to the extent not previously furnished to Bankfirst day of each fiscal year of Company, copies of all reports an annual budget with respect to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements fiscal year in form satisfactory to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periods.Bank
Appears in 1 contract
Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty within ninety (150) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated and Consolidating financial statements of Company as at the end of the preceding fiscal year and the related audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” certified public accounting firms or by any other recognized certified public accountant reasonably satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (15090) days after and as of the end of each fiscal year of Company, for each Insurance Subsidiary, a copy- of such Insurance Subsidiary’s financial statements for the preceding fiscal year, including a balance sheet and statement of profit and loss and changes in cash flow of Company and its Consolidated Subsidiaries each prepared in accordance with GAAP and audited by PricewaterhouseCoopers LLP or other independent certified public accountants reasonably satisfactory to Bank;
(b) within thirty (30) days after and as of the end of such fiscal year each month, a balance sheet and the related statements statement of income profit and retained earnings for such fiscal year, loss and changes in cash flow of Company each prepared in accordance with SAP GAAP (commonly referred to as the “Yellow Book” statementsexcluding footnote disclosures that would otherwise be required by GAAP) and certified by an officer of Company;
(c) within forty five (45) days after and as of the applicable Insurance Subsidiaryend of each fiscal quarter, a balance sheet and statement of profit and loss and changes in cash flow of Company each prepared in accordance with GAAP (excluding footnote disclosures that would otherwise be required by GAAP) and certified by an officer of Company;
(d) within thirty (30) days after and as of the end of each month, a detailed aging of Company’s accounts receivable and accounts payable, an inventory report and a borrowing base report each in form acceptable to Bank;
(e) as soon as available and in any event not no later than June 1 December 31 of each year, for each Insurance Subsidiary, a copy year of such Insurance Subsidiary’s audited financial statements Company projections of Company and its Subsidiaries for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as of the end of such fiscal year and the’ related statements of income and retained earnings for such next succeeding fiscal year, each prepared on a month to month basis in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms or by any another recognized certified public accountant reasonably form acceptable to Bank;
(f) as soonsoon as available, Company’s 8-K, 10-Q and 10-K reports filed with the federal Securities and Exchange Commission, and in any event, with respect to the 10-Q report, within forty five (45) days of the end of each of the first three fiscal quarters of each of Company’s fiscal years, and with respect to the 10-K report, within ninety (90) days after and as of the end of each of Company’s fiscal years; and as soon as available, copies of all financial statements related to material filings, reports or other documents filed by Company and/or or any of its Subsidiaries filed with the federal Securities and Exchange Commission or other federal regulator or taxing agencies or authorities in the United States, or comparable agencies or authorities in foreign jurisdictions, or any Regulatory Agencystock exchanges in such jurisdiction;
(g) such information as soon as available required by the terms and conditions of the Security Agreements referred to the extent not previously furnished in this Agreement; and
(i) promptly, and in form to be satisfactory to Bank, copies of all reports with respect such other information as Bank may reasonably request from time to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodstime.
Appears in 1 contract
Samples: Credit Agreement (Amerigon Inc)
Furnish Bank. (a) as soon as available, but in any event not later than one hundred fifty within ninety (15090) days after and as of the end of each fiscal year of Company a copy of the audited Consolidated PEI, detailed consolidated and Consolidating consolidating financial statements of Company as at the end of the preceding fiscal year PEI and the related its consolidated Subsidiaries, audited statements of income, accumulated earnings, and cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified as being fairly stated in all material respects in accordance with GAAP by one of the “Big Four” independent certified public accounting firms or by any other recognized certified public accountant reasonably accountants satisfactory to Bank;
(b) as soon as available, but in any event not later than seventy five within thirty (75) days after the end of each fiscal quarter (commencing with the fiscal quarter ending September 30, 2014), the unaudited Consolidated and Consolidating financial statements of Company as at the end of such fiscal quarter and the related unaudited statements of income, accumulated earnings and cash flows of Company for the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, and certified by the treasurer of Company as being fairly stated in all material respects and as having been prepared in accordance with GAAP;
(c) as soon as available and in any event within seventy five (75) days after the end of each fiscal quarter (excluding the fourth fiscal quarter of each fiscal year), a copy of each Insurance Subsidiary’s financial statements for such fiscal quarter, including a balance sheet as of the end of such fiscal quarter and the related statements of income and retained earnings for such fiscal quarter, each prepared in accordance with SAP and certified by an officer of the applicable Insurance Subsidiary;
(d) as soon as available and in any event not later than one hundred fifty (150) days after and as of the end of each fiscal year month other than December, and within sixty (60) days after the end of Company, for each Insurance SubsidiaryDecember, a copy- consolidated balance sheet and consolidated statement of such Insurance Subsidiary’s financial statements for profit and loss and surplus reconciliation of PEI and the preceding Subsidiaries presented in the form previously submitted to Bank, certified by an authorized officer of Company as being correct and accurate to the best of his knowledge;
(c) within twenty (20) days after and as of the end of each month, including the last month of each fiscal year, including the monthly aging of Company's Accounts and accounts payable and an ineligible Accounts report and an inventory report;
(d) during any Margin Reduction Period, within twenty (20) days after and as of the end of each month (and at such other times as Bank may request), a balance sheet schedule identifying each Eligible Account as of the end of such fiscal year month and the related statements of income any such schedule shall be accompanied, if so requested by Bank, by a true and retained earnings for such fiscal year, each prepared in accordance with SAP (commonly referred to as the “Yellow Book” statements) and certified by an officer correct copy of the applicable Insurance Subsidiaryinvoices evidencing such Eligible Account and by evidence of shipment or performance;
(e) as soon as available and in any event not later at all times other than June 1 during a Margin Reduction Period, on or before Wednesday of each year, for each Insurance Subsidiaryweek and as of Friday of the preceding week (and at such other times as Bank may request), a schedule identifying each Eligible Account as of such Friday and any such schedule shall be accompanied, if so requested by Bank, by a true and correct copy of the invoices evidencing such Insurance Subsidiary’s audited financial statements for the preceding fiscal year (commencing with the fiscal year ending December 31, 2010), including a balance sheet as Eligible Account and by evidence of the end of such fiscal year and the’ related statements of income and retained earnings for such fiscal year, each prepared in accordance with SAP and certified as being fairly stated in all material respects by one of the “Big Four” certified public accounting firms shipment or by any another recognized certified public accountant reasonably acceptable to Bankperformance;
(f) as soon-as availablewithin ninety (90) days after the beginning of each fiscal year of PEI, copies of all financial statements related to Company and/or any of its projections for PEI and the Subsidiaries filed with any Regulatory Agency(on a month by month basis) for such fiscal year;
(g) such information as soon as available required by the terms and conditions of any security agreements referred to in this Agreement;
(h) simultaneously with the delivery of any financial statements or reports, certificates, notices of default or other material correspondence to the extent not previously furnished holders of the Senior Debt, copies thereof; and
(i) promptly, and in form to be satisfactory to Bank, copies of all reports with respect such other information as Bank may reasonably request from time to Company and/or any of its Subsidiaries prepared by any Regulatory Agency or rating agency; all such financial statements to be complete and correct in all material respects and to be prepared in reasonable detail and in accordance with GAAP or SAP, as applicable, throughout the periods reflected therein and with prior periodstime.
Appears in 1 contract
