Common use of Projected Financial Statements Clause in Contracts

Projected Financial Statements. As soon as available, but in any event at least thirty (30) days prior to the end of each fiscal year of Borrower, forecasted financial statements prepared by Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of Borrower, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein.

Appears in 1 contract

Samples: Third Modification Agreement (White Electronic Designs Corp)

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Projected Financial Statements. As soon as available, but in any event at least thirty (30) within 90 days prior to the end of each fiscal year of each Borrower, forecasted financial statements statements, prepared by such Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of such Borrower, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Projected Financial Statements. As soon as available, but in any event at least thirty (30) within 30 days prior to the end of each fiscal year of the Borrower, forecasted financial statements statements, prepared by the Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of the Borrower, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year endend and prepared on an Accounting Period basis. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein. The financial statements referred to in clause (c) are not required to be prepared in accordance with GAAP, but shall be prepared consistent with past practice.

Appears in 1 contract

Samples: Loan and Security Agreement (Shoneys Inc)

Projected Financial Statements. As soon as available, but in any event at least thirty (30) Within 60 days prior to the end of each fiscal year of Borrower, forecasted financial statements statements, prepared by Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of BorrowerBorrower and its Subsidiaries, reflecting projected borrowings borrowing hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements referred to in CLAUSES (a) and (b) shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein. The projections set forth in CLAUSE (c) above shall be based upon reasonable assumptions made by Borrower as of the date of such projections.

Appears in 1 contract

Samples: Loan and Security Agreement (TBM Holdings Inc)

Projected Financial Statements. As soon as available, but in any event at least thirty (30) within 30 days prior to the end of each fiscal year of the Borrower, forecasted financial statements statements, prepared by the Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of the Borrower, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein.

Appears in 1 contract

Samples: Loan and Security Agreement (Dataflex Corp)

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Projected Financial Statements. As soon as available, but in any event at least thirty (30) within 30 days prior to the end of each fiscal year of Borrowerthe Borrowers, forecasted financial statements statements, prepared by Borrowerthe Borrowers, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of Borrowerthe Borrowers, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

Projected Financial Statements. As soon as available, but in any event at least thirty (30) days prior to the end of each fiscal year of Borrower, forecasted financial statements prepared by Borrower, consisting of consolidated and consolidating balance sheets, cash flow statements and income statements of Borrower, reflecting projected borrowings hereunder and setting forth the assumptions on which such forecasted financial statements were prepared, covering the one-year period until the next fiscal year end. All such financial statements shall be complete and correct in all material respects and all such financial statements referred to in clauses CLAUSES (a) and (b) shall be prepared in accordance with GAAP (except, with respect to interim financial statements, for the omission of footnotes) applied consistently throughout the periods reflected therein.

Appears in 1 contract

Samples: Loan and Security Agreement (White Electronic Designs Corp)

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