Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank: (a) Not later than 90 days after the end of each of the Borrower's fiscal years, a copy of (i) the annual audited financial report of the Borrower for such year prepared by a firm of certified public accountants reasonably acceptable to Bank, and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not later than 60 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effect. (b) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only. (c) Not later than 45 days after the end of each month, the Borrower's financial statement as of the end of such period. (d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein. (e) Not later than 30 days after the end of each month, an aging of accounts receivable indicating separately the amount of Eligible Accounts and the amount of total accounts receivable which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice. (f) Daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower. (g) Promptly upon the Bank's request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
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Samples: Term Loan Credit Agreement (Elexsys International Inc), Accounts Receivable Credit Agreement (Elexsys International Inc)
Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(ai) Not later than 90 120 days after the end of each of the Borrower's ’s fiscal years, a copy of (i) the annual audited consolidated financial report of the Borrower for such year year, prepared by a firm of certified public accountants reasonably acceptable to Bank, Bank and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for accompanied by an unqualified opinion of such year; and, not later than 60 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effectfirm.
(bii) Not later than 45 days after the end of each of the Borrower's fiscal quartersquarter, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's ’s consolidated financial statement as of the end of such period.quarter
(d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(eiii) Not later than 30 days after the end of each month, a copy of the Borrower’s financial statement as of the end of such period
(iv) Concurrently with the delivery of the quarterly and fiscal year end financial reports required hereunder, a compliance certificate stating that the Borrower is in compliance with all covenants contained herein and that no Event of Default or potential Event of Default has occurred or is continuing, and certified to by the chief financial officer of the Borrower.
(v) Not later than 30 days after the end of each month, (i) a borrowing base certificate in the form attached hereto (“Borrowing Base Certificate”), executed by Borrower and certifying the Amount of the Eligible Accounts as of the last day of the preceding month; and, (ii) an aging of accounts receivable indicating separately the amount of Eligible Accounts accounts due from each Account Debtor and the amount of total accounts receivable which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoicedue date, 61 to 90 days past the due date, and the amount over 60 90 days past the due date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoicedue date, 61 to 90 days past the due date, and the amount over 60 90 days past the date due date; and, (iii) a schedule of invoice.
(f) Daily inventory specifying the Value thereof in the form attached hereto as Exhibit “B”, and such other matters and information relating to the Borrower’s inventory as the Bank may request. Notwithstanding the foregoing, Bank, at its sole discretion, may require Borrower to submit daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's ’s Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. 2:00 pm. (California Pacific time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(gvi) Promptly upon the Bank's ’s request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
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Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(a) Not later than 90 days after the end of each of the Borrower's fiscal years, a copy of (i) the annual audited financial report of the Borrower for such year prepared by a firm of certified public accountants reasonably acceptable to Bank, and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not later than 60 120 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement annual audited financial report of the Borrower for the fiscal year then in effectsuch year, prepared by a firm of certified public accountants acceptable to Bank.
(b) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's financial statement as of the end of such periodmonth and a crop position report comparing actual expenditures on growing crops to projected expenditures in the Crop Budget.
(d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(ec) Not later than 30 25 days after the end of each month (i) a borrowing base certificate in the form acceptable to Bank ("Borrowing Base Certificate"), executed by Borrower and certifying the value of the Borrowing Base as of the last day of the preceding month; and, (ii) an aging of accounts receivable aging indicating separately the amount of Eligible Accounts and the amount of total accounts receivable which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, 61 to 90 days past the date of invoice, and the amount over 60 90 days past the date of invoice and (iii) a schedule of actual costs incurred in connection with growing crops; and (iv) an aging of accounts payable specifying separately trade payables and grower payables and indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 61 to 90 days past the date of invoice.
, and the amount over 90 days past the date of invoice; and, (fv) Daily a schedule of Acceptable Inventory specifying the Value and aging thereof, and such other matters and information relating to the Borrower's inventory as the Bank may request. Notwithstanding the foregoing Section 7.06 (c) and following an Event of Default hereunder, Bank, at its sole discretion, may require Borrower to submit daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 2:00 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower; and (iv) a schedule of Acceptable Inventory specifying the Value thereof, and such other matters and information relating to the Borrower's inventory as the Bank may request and (v) a schedule of actual costs incurred in connection with growing crops.
(gd) Promptly upon the Bank's request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Samples: Accounts Receivable Credit Agreement (Golden State Vintners Inc)
Reporting and Certification Requirements. Deliver Shall deliver or cause to be delivered to the Bank Agent in form and detail satisfactory to the BankAgent:
(ai) Not later than 90 ninety (90) days after the end of each of the Borrower's fiscal years’s Fiscal Years, a copy of (i) the annual audited financial report on form 10K of the Borrower for such year year, prepared by a firm of certified public accountants reasonably acceptable to Bank, Agent and accompanied by an unqualified opinion of such firm.
(ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not Not later than 60 forty-five (45) days after the end of each of the Borrower's first three fiscal yearsquarters of each Fiscal Year, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effect.
(b) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's ’s financial statement on form 10Q as of the end of such period.
(diii) Not later than one hundred twenty (120) days after the end of each of the Borrower’s Fiscal Years, a copy of the Borrower’s internally prepared financial projections for the next Fiscal Year.
(iv) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as of Exhibit "A"D, showing in form and substance satisfactory to Agent, setting forth the calculations which would demonstrate calculation of the covenants contained in Section 5.2 hereof, stating that, to the best of the Borrower’s knowledge after due inquiry, the Borrower is in compliance with all the covenants contained in Section 5.2 hereof, and certified to by the chief financial officer or corporate controller of the financial covenants contained hereinBorrower or any other signatory on the deposit account maintained by the Borrower with Agent.
(ev) Not later than 30 days Promptly after filing, any other material filings with the end of each month, an aging of accounts receivable indicating separately the amount of Eligible Accounts United States Securities and the amount of total accounts receivable which are current, 1 Exchange Commission not already required to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoicebe delivered hereunder.
(f) Daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(gvi) Promptly upon the Bank's Agent’s request, such other information pertaining to the Borrower, the Collateral Borrower or any Loan Party or any guarantor hereunder as the Bank Agent may reasonably request. For the purposes of Section 5.1(i), Section 5.1(ii) and Section 5.1(v) hereof, such financial statements and filings shall be deemed delivered when publicly available on the Borrower’s website or the website of the United States Securities and Exchange Commission.
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Reporting and Certification Requirements. Deliver The Borrower promises and agrees, during the term of this Agreement and until full payment of all of Borrower's Obligations hereunder, to deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(a) Not as soon as available but not later than 90 120 days after the end of each of the Borrower's fiscal years, a copy of (i) the annual CPA audited financial report consolidated and consolidating balance sheet of the Borrower for such year prepared by a firm as of certified public accountants reasonably acceptable to Bank, and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not later than 60 days after the end of each such fiscal year and the related statements of income, shareholders' equity and cash flows for such fiscal year, certified by the Borrower as being complete and correct and fairly presenting, in accordance with GAAP, the financial position and the results of operations of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effect.;
(b) Not as soon as available, but not later than 45 30 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for of the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's financial statement Borrower as of the end of such period.quarter and the related statements of income and cash flows for the period commencing on the first day of the fiscal year and ending on the last day of such quarter, prepared and certified by the Borrower as being complete and correct and fairly presenting the financial position and the results of operations of the Borrower;
(dc) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(e) Not soon as available but not later than 30 days after the end of each monthof the Borrower's fiscal quarters, an aging of accounts receivable indicating separately receivables and payables as of the amount end of Eligible Accounts such quarter;
(d) as soon as available but not later than 120 days after the end of each of Guarantor's fiscal years, a copy of such Guarantor's balance sheet as of the end of such fiscal year and the amount related statements of total accounts receivable which are currentincome and shareholders' equity for such fiscal year, 1 to 30 days past certified by the date of invoiceBorrower as being complete and correct and fairly presenting, 31 to 60 days past in accordance with GAAP, the date of invoice, financial position and the amount over 60 days past results of operations of the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice.respective Guarantor;
(f) Daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(ge) Promptly upon the Bank's request, such other information pertaining to the Borrower, Borrower or the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(ai) Not later than 90 120 days after the end of each of the Borrower's ’s fiscal years, a copy of (i) the annual audited consolidated financial report of the Borrower for such year year, prepared by a firm of certified public accountants reasonably acceptable to Bank, Bank and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for accompanied by an unqualified opinion of such year; and, not later than 60 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effectfirm.
(bii) Not later than 45 days after the end of each of the Borrower's fiscal quartersquarter, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's ’s consolidated financial statement as of the end of such periodquarter.
(d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(eiii) Not later than 30 days after the end of each month, a copy of the Borrower’s financial statement as of the end of such period.
(iv) Concurrently with the delivery of the quarterly and fiscal year end financial reports required hereunder, a compliance certificate stating that the Borrower is in compliance with all covenants contained herein and that no Event of Default or potential Event of Default has occurred or is continuing, and certified to by the chief financial officer of the Borrower.
(v) Not later than 30 days after the end of each month, (i) a borrowing base certificate in the form attached hereto as Exhibit ”A” (“Borrowing Base Certificate”), executed by Borrower and certifying the Amount of the Eligible Accounts as of the last day of the preceding month; and, (ii) an aging of accounts receivable indicating separately the amount of Eligible Accounts accounts due from each Account Debtor and the amount of total accounts receivable which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoicedue date, 61 to 90 days past the due date, and the amount over 60 90 days past the due date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoicedue date, 61 to 90 days past the due date, and the amount over 60 90 days past the date due date; and, (iii) a schedule of invoice.
(f) Daily inventory specifying the Value thereof in the form attached hereto as Exhibit ”B”, and such other matters and information relating to the Borrower’s inventory as the Bank may request. Notwithstanding the foregoing, Bank, at its sole discretion, may require Borrower to submit daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's ’s Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 2:00 p.m. (California Pacific time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(gvi) Promptly upon the Bank's ’s request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(ai) Not later than 90 days after the end of each of the BorrowerGuarantor's fiscal yearsyear, a copy of (i) the annual audited consolidated financial report of the Borrower Guarantor for such year year, prepared by a firm of certified public accountants reasonably acceptable to Bank, Bank and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for accompanied by an unqualified opinion of such year; and, not later than 60 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effectfirm.
(bii) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each monthquarter, the BorrowerGuarantor's financial statement as of the end of such period.
(d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(eiii) Not later than 30 days after the end of each month, month (i) an aging of accounts receivable indicating separately the amount of Eligible Accounts accounts due from each Account Debtor and the amount of total accounts receivable which are current, 1 31 to 30 60 days past the date of invoice, 31 61 to 60 90 days past the date of invoice, and the amount over 60 90 days past the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoicedue date, 61 to 90 days past the due date, and the amount over 60 90 days past the date due date; and, (ii) a schedule of invoiceinventory specifying the Value thereof in the form attached hereto as Exhibit "A", and such other matters and information relating to each Borrower's inventory as the Bank may request.
(fiv) Daily Each Borrower to submit daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Borrowers' Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. 10:00 a.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the each Borrower.
(gv) Promptly upon the Bank's request, such other information pertaining to the any Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(ai) Not later than 90 days after the end of each of the Borrower's ’s fiscal years, a copy of (i) the annual audited consolidated financial report of the Borrower for such year year, prepared by a firm of certified public accountants reasonably acceptable to Bank, Bank and accompanied by an unqualified opinion of such firm and a copy of the annual consolidating financial report of the Borrower for such year.
(ii) the Borrower's Form 10-K filed Not later than 30 days after filing with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not later than 60 days after the end of each of the Borrower's fiscal yearsappropriate Federal agency, a copy of the Borrower's projected balance sheet and ’s federal income statement for the fiscal year then in effecttax returns.
(b) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(ciii) Not later than 45 days after the end of each month, a copy of the Borrower's ’s financial statement as of the end of such period.
(div) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate stating that the Borrower is in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all covenants contained herein and that no Event of Default or potential Event of Default has occurred or is continuing, and certified to by the chief financial officer of the financial covenants contained hereinBorrower.
(ev) Not later than 30 days after the end of each month, an aging of accounts receivable indicating separately payable and accounts receivable.
(vi) Not later than 15 days after filing with the Securities Exchange Commission (“SEC”), a copy of the Borrower’s annual 10K report.
(vii) Not later than 15 days after filing with the SEC, a copy of the Borrower’s quarterly 10Q report.
(viii) Not later than 30 days after the end of each month, a copy of the Borrower’s brokerage and bank statements for the month, if Liquid Assets maintained with the Bank are less than $7,000,000.00.
(ix) Not later than 30 days after the end of each month, a borrowing base certificate in the form attached hereto as Exhibit “B” (“Borrowing Base Certificate”), executed by the Borrower and certifying the amount of Eligible Accounts and the amount Credit Limit available as of total accounts receivable which are current, 1 to 30 days past the date last day of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoicepreceding month.
(f) Daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(gx) Promptly upon the Bank's ’s request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Reporting and Certification Requirements. Deliver or cause to be delivered to the Bank in form and detail satisfactory to the Bank:
(a) Not later than 90 days after the end of each of the Borrower's fiscal years, a copy of (i) the annual audited financial report of the Borrower for such year prepared by a firm of certified public accountants reasonably acceptable to Bank, and (ii) the Borrower's Form 10-K filed with the Securities Exchange Commission and (iii) the Borrower's consolidating balance sheet and income statement for such year; and, not later than 60 days after the end of each of the Borrower's fiscal years, a copy of the Borrower's projected balance sheet and income statement for the fiscal year then in effect.
(b) Not later than 45 days after the end of each of the Borrower's fiscal quarters, a copy of the Borrower's Form 10-Q filed with the Securities Exchange Commission and the Borrower's consolidating balance sheet and income statement for such quarter for the first three quarters only.
(c) Not later than 45 days after the end of each month, the Borrower's financial statement as of the end of such period.
(d) Concurrently with the delivery of the financial reports required hereunder, a compliance certificate in substantially the form attached hereto as Exhibit "A", showing the calculations which would demonstrate compliance with all of the financial covenants contained herein.
(ed) Not later than 30 days after the end of each month, an aging of accounts receivable indicating separately the amount of Eligible Accounts and the amount of total accounts receivable which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice and an aging of accounts payable indicating the amount of such payables which are current, 1 to 30 days past the date of invoice, 31 to 60 days past the date of invoice, and the amount over 60 days past the date of invoice.
(fe) Daily or at such other time as required by the Bank: (i) a transaction report and schedule of accounts receivable which indicates all sales made and all collections received for each such day; (ii) all remittances and collections of accounts in kind and without commingling to be applied to the payment of the Borrower's Obligations on the next Business Day following receipt thereof; provided, however, that if such amounts are received in a form other than cash or bank wire, the Bank may withhold application of such amounts for such time to the extent permitted by law as the Bank, in its sole discretion, deems reasonable to allow for collection and provided further that any remittances and collections received by the Bank later than 2:30 p.m. (California time) on any day shall be deemed received on the next succeeding Business Day; and (iii) clear and legible copies of all invoices or sales receipts evidencing the sale of goods or services by the Borrower.
(gf) Promptly upon the Bank's request, such other information pertaining to the Borrower, the Collateral or any guarantor hereunder as the Bank may reasonably request.
Appears in 1 contract
Samples: Accounts Receivable Credit Agreement (Elexsys International Inc)
