Common use of Quarterly Reporting Requirements and Delivery of Annual Audited Financial Statements Clause in Contracts

Quarterly Reporting Requirements and Delivery of Annual Audited Financial Statements. (A) Borrower shall provide the County Manager or his designee with quarterly reports within sixty (60) days after the completion of each quarter during each Budget Year comparing the actual Gross Revenues, Approved Operating Expenses, Senior Debt Service Payments, Property Management Fee payments, deposits into or withdrawals from Capital Replacement Reserves, and APAH Services Fee payments for such quarter, to that set forth in the corresponding quarter of the Annual Budget. (B) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined herein) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year.

Quarterly Reporting Requirements and Delivery of Annual Audited Financial Statements. (A) Borrower shall provide the County Manager or his designee with quarterly reports within sixty (60) days after the completion of each quarter during each Budget Year comparing the actual Gross Revenues, Approved Operating Expenses, Senior Debt Service Payments, Property Management Fee payments, deposits into or withdrawals from Capital Replacement ReservesReserve, Lease-Up Reserve, Operating Reserve, and Special Limited Partner Asset Management Fee Reserve, APAH Management and Services Fee payments, and Special Limited Partner Asset Management Fee payments for such quarter, to that set forth in the corresponding quarter of the Annual Budget. (B) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined herein) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year.

Quarterly Reporting Requirements and Delivery of Annual Audited Financial Statements. (A) Borrower shall provide the County Manager or his designee with quarterly reports within sixty (60) days after the completion of each quarter during each Budget Year comparing the actual Gross Revenues, Approved Operating Expenses, Senior Debt Service Payments, Property Management Fee payments, deposits into or withdrawals from Capital Replacement Reserves, APAH Sponsor Subordinate DHCD/HTF Loan payments, and APAH Services Fee payments for such quarter, to that set forth in the corresponding quarter of the Annual Budget. (B) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined herein) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year.

Quarterly Reporting Requirements and Delivery of Annual Audited Financial Statements. (A) Borrower shall provide the County Manager or his designee with quarterly reports within sixty (60) days after the completion of each quarter during each Budget Year comparing the actual Gross Revenues, Approved Operating Expenses, Senior Debt Service Payments, Property Management Fee payments, deposits into or withdrawals from the Capital Replacement ReservesReserve and Operating Reserve, General Partner Asset Management Fee payments, Limited Partner Asset Management Fee payments, Property Management Fee payments, Tax Credit Agency Monitoring Fee payments, and APAH Services MBS Deferred Developer Fee payments for such quarter, to that set forth in the corresponding quarter of the Annual Budget. (B) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined hereinin this Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year.