Common use of Quarterly Operating Statements Clause in Contracts

Quarterly Operating Statements. Within forty-five (45) days after the end of each calendar quarter, complete copies of Borrower’s internally prepared operating statements for the Property showing all Gross Income, all Operating Expenses and all profit and loss for the subject calendar quarter in a form reasonable acceptable to Lender and containing such detail and such other information (including non-financial information) as reasonably requested by Lender, all of the foregoing operating statements and information shall be prepared and certified as true, complete and correct by an appropriate officer of the Managing Member of Borrower.

Quarterly Operating Statements. Within forty-five (45) days after the end of each calendar quarter, complete copies of Borrower’s 's internally prepared operating statements for the Property showing all Gross Income, all Operating Expenses and all profit and loss for the subject calendar quarter in a form reasonable acceptable to Lender and containing such detail and such other information (including non-financial information) as reasonably requested by Lender, all of the foregoing operating statements and information shall be prepared and certified as true, complete and correct by an appropriate officer of the Managing Member of Borrower.