Common use of Periodic Reports; Budgets Clause in Contracts

Periodic Reports; Budgets. (a) It will furnish to each Qualified Investor as soon as practicable, and in any event within 90 days after the end of each fiscal year of the Company, audited financial statements of the Company, including an audited balance sheet as at the end of such fiscal year and audited statements of income and retained earnings and cash flow for such fiscal year, setting forth in each case in comparative form corresponding figures for the preceding fiscal year and for the budget for the fiscal year just completed (provided, however, that information as to the budgeted figures will not be audited), all of which will fairly present the financial condition of the Company at the date shown and the results of its operations for the period then ended. Such financial statements shall be accompanied by the report thereon of nationally recognized independent public accountants to the effect that such financial statements have been prepared in accordance with generally accepted accounting principles applied on a basis consistent with prior years (except as otherwise specified in such report). The Company will use its best efforts to conduct its business so that such report of the independent public accountants will not contain any qualifications as to the scope of the audit, the continuance of the Company, or with respect to the Company's compliance with generally accepted accounting principles consistently applied, except for changes in methods of accounting in which such accountants concur.

Periodic Reports; Budgets. (a) It will furnish to each Qualified Substantial Investor as soon as practicable, and in any event within 90 days after the end of each fiscal year of the Company, audited financial statements an annual report of the Company, including an audited balance sheet as at the end of such fiscal year and audited statements of income income, cash flows and retained earnings and cash flow stockholders equity for such fiscal year, setting forth in each case in comparative form corresponding figures for the preceding fiscal year and for the budget for the fiscal year just completed (provided, however, that information as to the budgeted figures will not be audited), all of which will be correct and complete and will fairly present the financial condition of the Company at the date shown and the results of its operations for the period then ended. Such financial statements shall be accompanied by the report thereon of nationally recognized independent public accountants satisfactory to Warburg to the effect that such financial statements have been prepared in accordance with generally accepted accounting principles applied on a basis consistent with prior years (except as otherwise specified in such report). The Company will use its best efforts to conduct its business so that such report of the independent public accountants will not contain any qualifications as to the scope of the audit, the continuance of the Company, or with respect to the Company's compliance with generally accepted accounting principles consistently applied, except for changes in methods of accounting in which such accountants concur.

Periodic Reports; Budgets. (a) It The Company will furnish to each Qualified Investor Purchaser as soon as practicable, and in any event within 90 days after the end of each fiscal year of the Company, audited financial statements an annual report of the Company, including an audited balance sheet as at the end of such fiscal year and audited statements of income operations, income, and retained earnings and statement of cash flow flows for such fiscal year, setting forth in each case in comparative form corresponding figures for the preceding fiscal year and for the budget for the fiscal year just completed (provided, however, that information as to the budgeted figures will not be audited), all of which will be materially correct and complete and will fairly present the financial condition of the Company at the date shown and the results of its operations for the period then ended. Such financial statements shall be accompanied by the report thereon of nationally recognized independent public accountants engaged by Charter for its other businesses to the effect that such financial statements have been prepared in accordance with generally accepted accounting principles applied on a basis consistent with prior years (except as otherwise specified in such report). The Company will use its best efforts to conduct its business so that such report of the independent public accountants will not contain any qualifications as to the scope of the audit, the continuance of the Company, or with respect to the Company's compliance with generally accepted accounting principles consistently applied, except for changes in methods of accounting in which such accountants concur.