Common use of Guarantor’s Financial Covenants Clause in Contracts

Guarantor’s Financial Covenants. Guarantor shall provide, or cause to be provided, to Landlord the following financial statements and information, all of which must be in a form reasonably acceptable to Landlord: (a) promptly and in any event within ninety (90) days after the end of each Fiscal Year, (i) audited statements of financial position of Guarantor as of the end of each such Fiscal Year, including a balance sheet, statement of income, statement of shareholder’s equity (deficit) and statement of cash flows for such Fiscal Year (“Annual Financial Statements”), which Annual Financial Statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof provided, in no event however, will such information be provided before any applicable SEC 10K filings are made (provided further, however, that in the event that Guarantor fails to file its SEC 10K within ninety (90) days after any Fiscal Year, Guarantor shall be obligated to deliver (A) on or before the ninetieth (90th) day after the end of such Fiscal Year, financial statements of Guarantor regarding the fourth Fiscal Quarter of such Fiscal Year, including a balance sheet and statement of profits and losses for such Fiscal Quarter and (B) on the date Guarantor files its SEC 10K, the Annual Financial Statements, which statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof), prepared by Guarantor in accordance with generally accepted accounting principles as in effect in the United States of America from time to time (“GAAP”), and accompanied by a statement of a nationally recognized accounting firm acceptable to Landlord in its sole discretion that such financial statements present fairly, in all material respects, the financial condition of Guarantor as of the end of the Fiscal Year being reported on and that the results of the operations and cash flows for such year were prepared, and are being reported on, in conformity with GAAP, and (ii) such other information of Guarantor reasonably requested by Landlord in form and substance reasonably acceptable to Landlord; (b) promptly and in any event within forty-five (45) days after the end of each Fiscal Quarter, for Fiscal Quarters 1-3, (i) quarterly statements of the financial position of Guarantor, including a balance sheet, a statement of profits and losses, and a statement showing the cash flows for the previous twelve (12) month period, such quarterly statements of financial position to be certified by an officer of Guarantor to fairly represent the financial condition of Guarantor as of the date thereof and to have been prepared and reported in conformity with GAAP and (ii) a compliance certificate from Guarantor, in form and substance reasonably acceptable to Landlord and such other financial information of Guarantor reasonably requested by Landlord supporting the statements contained in any such compliance certificate; (c) any financial statements distributed to any secured lender of Guarantor within five (5) business days after such distribution; and (d) such other information with respect to the Guarantor that may be reasonably requested from time to time by Landlord, within a reasonable time after the applicable request.

Guarantor’s Financial Covenants. Guarantor shall provide, or cause to be provided, to Landlord the following financial statements and information, all of which must be in a form reasonably acceptable to Landlord: (a) promptly and in any event within ninety (90) days after the end of each Fiscal Year, (i) audited statements of financial position of Guarantor as of the end of each such Fiscal Year, including a balance sheet, statement of income, statement of shareholder’s equity (deficit) sheet and statement of profits and losses, expenses and retained earnings, changes in financial position and cash flows for such Fiscal Year (“Annual Financial Statements”), which Annual Financial Statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof provided, in no event however, will such information be provided before any applicable SEC 10K filings are made (provided further, however, that in the event that Guarantor fails to file its SEC 10K within ninety (90) days after any Fiscal Year, Guarantor shall be obligated to deliver (A) on or before the ninetieth (90th) day after the end of such Fiscal Year, financial statements of Guarantor regarding the fourth Fiscal Quarter of such Fiscal Year, including a balance sheet and statement of profits and losses for such Fiscal Quarter and (B) on the date Guarantor files its SEC 10K, the Annual Financial Statements, which statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof), prepared by Guarantor in accordance with generally accepted accounting principles as in effect in the United States of America from time to time (“GAAP”), and accompanied by a statement of a nationally recognized accounting firm acceptable to Landlord in its sole discretion that such financial statements present fairly, in all material respects, the financial condition of Guarantor as of the end of the Fiscal Year being reported on and that the results of the operations and cash flows for such year were prepared, and are being reported on, in conformity with GAAP, and (ii) such other information of Guarantor reasonably requested by Landlord in form and substance reasonably acceptable to Landlord; (b) promptly and in any event within forty-five (45) days after the end of each Fiscal Quarter. Upon Landlord’s written request, for Fiscal Quarters 1-3, (iA) quarterly statements of the financial position of Guarantor, including a balance sheet, a statement of profits and losses, and a statement showing the cash flows for the previous twelve (12) month period, such quarterly statements of financial position to be certified by an officer of Guarantor to fairly represent the financial condition of Guarantor as of the date thereof and to have been prepared and reported in conformity with GAAP and (iiB) a compliance certificate from Guarantor, in form and substance reasonably acceptable to Landlord and such other financial information of Guarantor reasonably requested by Landlord supporting the statements contained in any such compliance certificate; (c) any financial statements distributed form and substance reasonably satisfactory to any secured lender of Guarantor within five (5) business days after such distribution; and (d) such other information with respect to the Guarantor that may be reasonably requested from time to time by Landlord, within a reasonable time after the applicable request.

Guarantor’s Financial Covenants. Guarantor shall provide, or cause to be provided, to Landlord the following financial statements and information, all of which must be in a form reasonably acceptable to Landlord: (a) promptly and in any event within ninety (90) days after the end of each Fiscal Year, (i) audited statements of financial position of Guarantor as of the end of each such Fiscal Year, including a balance sheet, statement of income, statement of shareholder’s equity (deficit) and statement of cash flows for such Fiscal Year (“Annual Financial Statements”), which Annual Financial Statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof provided, in no event however, will such information be provided before any applicable SEC 10K filings are made (provided further, however, that in the event that Guarantor fails to file its SEC 10K within ninety (90) days after any Fiscal Year, Guarantor shall be obligated to deliver (A) on or before the ninetieth (90th) day after the end of such Fiscal Year, financial statements of Guarantor regarding the fourth Fiscal Quarter of such Fiscal Year, including a balance sheet and statement of profits and losses for such Fiscal Quarter and (B) on the date Guarantor files its SEC 10K, the Annual Financial Statements, which statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof), prepared by Guarantor in accordance with generally accepted accounting principles as in effect in the United States of America from time to time (“GAAP”), and accompanied by a statement of a nationally recognized accounting firm acceptable to Landlord in its sole discretion that such financial statements present fairly, in all material respects, the financial condition of Guarantor as of the end of the Fiscal Year being reported on and that the results of the operations and cash flows for such year were prepared, and are being reported on, in conformity with GAAP, and (ii) such other information of Guarantor reasonably requested by Landlord in form and substance reasonably acceptable to Landlord; (b) promptly and in any event within forty-five (45) days after the end of each Fiscal Quarter, for Fiscal Quarters 1-3, (i) quarterly statements of the financial position of Guarantor, including a balance sheet, a statement of profits and losses, and a statement showing the cash flows for the previous twelve (12) month period, such quarterly statements of financial position to be certified by an officer of Guarantor to fairly represent the financial condition of Guarantor as of the date thereof and to have been prepared and reported in conformity with GAAP and (ii) a compliance certificate from Guarantor, in form and substance reasonably acceptable to Landlord and such other financial information of Guarantor reasonably requested by Landlord supporting the statements contained in any such compliance certificate; (c) any financial statements distributed to any secured lender of Guarantor within five (5) business days after such distribution; and (d) such other information with respect to the Guarantor that may be reasonably requested from time to time by Landlord, within a reasonable time after the applicable request.

Guarantor’s Financial Covenants. (a) The Guarantor shall provide, or cause to be provided, to Landlord the following BOR: (i)(A) annual financial statements and informationof the Guarantor, all audited by a firm of which must be in a form reasonably acceptable to Landlord: independent certified public accountants of recognized national standing, within one hundred twenty (a) promptly and in any event within ninety (90120) days after the end of each Fiscal Year, (i) audited statements of financial position of Guarantor as of the end of each such Fiscal Year, including a balance sheet, statement of income, statement of shareholderGuarantor’s equity (deficit) and statement of cash flows for such Fiscal Year (“Annual Financial Statements”), which Annual Financial Statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof provided, in no event however, will such information be provided before any applicable SEC 10K filings are made (provided further, however, that in the event that Guarantor fails to file its SEC 10K within ninety (90) days after any Fiscal Year, Guarantor shall be obligated to deliver (A) on or before the ninetieth (90th) day after the end of such Fiscal Year, financial statements of Guarantor regarding the fourth Fiscal Quarter of such Fiscal Year, including a balance sheet and statement of profits and losses for such Fiscal Quarter fiscal year and (B) on the date Guarantor files its SEC 10K, the Annual Financial Statements, which quarterly financial statements shall be duly certified by an officer of Guarantor to fairly represent the financial condition of Guarantor, as of the date thereof), prepared by Guarantor in accordance with generally accepted accounting principles as in effect in the United States of America from time to time within sixty (“GAAP”), and accompanied by a statement of a nationally recognized accounting firm acceptable to Landlord in its sole discretion that such financial statements present fairly, in all material respects, the financial condition of Guarantor as 60) days of the end of the Fiscal Year being reported on and that the results first three (3) fiscal quarters of the operations and cash flows for such year were prepared, and are being reported on, in conformity with GAAP, and Guarantor; (ii) any (A) earnings releases of the Guarantor or (B) other material financial information regarding the Guarantor that is made publicly available, in either case as soon as reasonably practicable following such other information of Guarantor reasonably requested by Landlord in form and substance reasonably acceptable to Landlord; public release (b) promptly and in any event within forty-five (45) days after on the end of each Fiscal Quarter, for Fiscal Quarters 1-3, (i) quarterly statements of the financial position of Guarantor, including a balance sheet, a statement of profits and losses, and a statement showing the cash flows for the previous twelve (12) month period, same day as such quarterly statements of financial position to be certified by an officer of Guarantor to fairly represent the financial condition of Guarantor as of the date thereof and to have been prepared and reported in conformity with GAAP public release); and (ii) a compliance certificate from Guarantor, in form and substance reasonably acceptable to Landlord and such other financial information of Guarantor reasonably requested by Landlord supporting the statements contained in any such compliance certificate; (c) any financial statements distributed to any secured lender of Guarantor within five (5) business days after such distribution; and (diii) such other information with respect to the Guarantor that as may be reasonably requested from time to time by Landlordthe BOR, within a reasonable time after the applicable such request. (b) In the event that the Guarantor or any Person who has Control of the Guarantor is required to make regular filings with the Securities and Exchange Commission, the Guarantor shall provide, or cause to be provided, to the BOR copies of all information filed with the Securities and Exchange Commission by either the Guarantor or any Person who has Control of the Guarantor as soon as reasonably practicable after such information is filed (and in any event on the same day as such information is filed). In the event that the Guarantor is required to make regular filings with the Securities and Exchange Commission, its provision to the BOR of (i) each Annual Report it files on Form 10-K and (ii) each Quarterly Report it files on Form 10-Q in accordance with, and at the times set forth, in this Section 7(b) shall be deemed to satisfy its obligations under Section 7(a)(i)(A) and (B) above, respectively. (c) The Guarantor shall, at all times while this Guaranty remains in effect, comply with the following financial covenants: (i) The Guarantor’s Unrestricted Cash and Investments as of the end of each fiscal quarter shall equal at least days of Daily Operating Expenses. (ii) The Guarantor’s Leverage Ratio as of the end of each fiscal quarter shall be not greater than :1. (iii) The Guarantor’s Total Assets as of the end of each fiscal quarter shall not be less than $ . (iv) The Guarantor’s Fixed Charge Coverage Ratio as of the end of each fiscal quarter shall not be less than :1. (d) The following terms shall have the meanings set forth below for the purposes of this Section 7: