Common use of Quarterly and Annual Financial Statements Clause in Contracts

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide CITY LOOKS with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S City Looks business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to CITY LOOKS for the FRANCHISEE'S City Looks business will be presented in the exact form and format prescribed by CITY LOOKS in writing and will be categorized according to the chart of accounts prescribed by CITY LOOKS. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. The FRANCHISEE'S quarterly financial statements will be delivered to CITY LOOKS by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide CITY LOOKS COST CUTTERS with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S City Looks business Cost Cutters Business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to CITY LOOKS COST CUTTERS for the FRANCHISEE'S City Looks business Cost Cutters Business will be presented in the exact form and format prescribed by CITY LOOKS COST CUTTERS in writing and will be categorized according to the chart of accounts prescribed by CITY LOOKSCOST CUTTERS. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. The FRANCHISEE'S quarterly financial statements will be delivered to CITY LOOKS COST CUTTERS by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide CITY LOOKS WCH with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S City Looks business We Care Hair Business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to CITY LOOKS WCH for the FRANCHISEE'S City Looks business We Care Hair Business will be presented in the exact form and format prescribed by CITY LOOKS WCH in writing and will be categorized according to the chart of accounts prescribed by CITY LOOKSWCH. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. The FRANCHISEE'S quarterly financial statements will be delivered to CITY LOOKS WCH by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.