Common use of Reports to Lessee Clause in Contracts

Reports to Lessee. (a) Manager shall prepare and deliver to Lessee, within thirty (30) days after the close of each calendar month, unaudited financial statements covering the prior month and containing a balance sheet and statement of income and expenses in reasonable detail. Manager shall also provide any required assistance to the independent accountants for the Facility, who shall be selected by Manager, in the preparation of audited annual financial statements for the operation of the Facility. Such financial statements shall be prepared at Lessee's expense in accordance with generally accepted accounting principles in the health care field consistently applied and delivered to Manager and Lessee within ninety (90) days after the end of each fiscal year of the Facility. Manager shall prepare reports or provide information to Lessee required by the Lease, any loan documents of the lessor, or the Loan Agreement and related documents. (b) Manager shall submit to Lessee for its approval (which approval will not be unreasonably withheld) each twelve (12) months its budget for the operation of the Facility setting out anticipated income, expenses and capital expenditures during the succeeding twelve (12) month period. Manager shall use its reasonable best efforts to operate the Facility in accordance with the provisions of the budget for the Facility as submitted to Lessee. Such proposed budget for the Facility shall be delivered to Lessee prior to the commencement of the operational fiscal year of the Facility. (c) Manager or Lessee shall schedule periodic management meetings to be attended by representatives of both Manager and Lessee no less frequently than quarterly and shall furnish to Lessee quarterly written progress reports concerning the operation of the Facility.

Reports to Lessee. (a) Manager shall prepare and deliver to Lessee, within thirty forty-five (3045) days after the close of each calendar month, unaudited financial statements covering the prior month and containing a balance sheet and statement of income and expenses in reasonable detail. Manager shall also provide any required assistance to the independent accountants for the Facility, who shall be selected by Manager, in the preparation of audited annual financial statements for the operation of the Facility. Such financial statements shall be prepared at Lessee's expense in accordance with generally accepted accounting principles in the health care field consistently applied and delivered to Manager and Lessee within ninety (90) days after the end of each fiscal year of the Facility. Manager shall prepare reports or provide information to Lessee required by the Lease, any loan documents of HCPI or any loan documents evidencing or securing the lessor, or the Loan Agreement and related documentsWCI Loan. (b) Manager shall submit to Lessee for its approval (which approval will not be unreasonably withheld) each twelve (12) months its budget for the operation of the Facility setting out anticipated income, expenses and capital expenditures during the succeeding twelve (12) month period. Manager shall use its reasonable best efforts to operate the Facility in accordance with the provisions of the budget for the Facility as submitted to Lessee. Such proposed budget for the Facility shall be delivered to Lessee prior to the commencement of the operational fiscal year of the Facility. (c) Manager or Lessee shall schedule periodic management meetings to be attended by representatives of both Manager and Lessee no less frequently than quarterly semi-annually and shall furnish to Lessee quarterly written progress reports concerning the operation of the Facility.

Reports to Lessee. (a) Manager shall prepare and deliver to Lessee, within thirty (30) days after the close of each calendar month, unaudited financial statements covering the prior month and containing a balance sheet and statement of income and expenses in reasonable detail. Manager shall also provide any required assistance to the independent accountants for the Facility, who shall be selected by Manager, in the preparation of audited annual financial statements for the operation of the Facility. Such financial statements shall be prepared at Lessee's expense in accordance with generally accepted accounting principles in the health care field consistently applied and delivered to Manager and Lessee within ninety (90) days after the end of each fiscal year of the Facility. Manager shall prepare reports or provide information to Lessee required by the Lease, any loan documents of Lessor or any loan documents evidencing or securing the lessor, or the Loan Agreement and related documentsWCI Loan. (b) Manager shall submit to Lessee for its approval (which approval will not be unreasonably withheld) each twelve (12) months its budget for the operation of the Facility setting out anticipated income, expenses and capital expenditures during the succeeding twelve (12) month period. Manager shall use its reasonable best efforts to operate the Facility in accordance with the provisions of the budget for the Facility as submitted to Lessee. Such proposed budget for the Facility shall be delivered to Lessee prior to the commencement of the operational fiscal year of the Facility. (c) Manager or Lessee shall schedule periodic management meetings to be attended by representatives of both Manager and Lessee no less frequently than quarterly semi-annually and shall furnish to Lessee quarterly written progress reports concerning the operation of the Facility.

Reports to Lessee. (a) Manager shall prepare and deliver to Lessee, within thirty (30) days after the close of each calendar month, unaudited financial statements covering the prior month and containing a balance sheet and statement of income and expenses in reasonable detail. Manager shall also provide any required assistance to the independent accountants for the Facility, who shall be selected by ManagerManager and approved by Lessee, in the preparation of unaudited (or audited annual if so requested by Lessee) financial statements for the operation of the Facility. Such financial statements shall be prepared at Lessee's expense in accordance with generally accepted accounting principles in the health care field consistently applied and delivered to Manager and Lessee within ninety (90) days promptly after the end of each fiscal year of the Facility. Manager shall prepare reports or provide information to Lessee required by the Lease, Lease and any loan documents of the lessor, or the Loan Agreement and related documentsLessor. (b) Manager shall submit to Lessee for its approval (which approval will not be unreasonably withheld) each twelve (12) months its a proposed budget for the operation of the Facility setting out anticipated income, expenses and capital expenditures during the succeeding twelve (12) month period. Manager , and shall use its reasonable best efforts to operate the Facility in accordance with the provisions of the budget for the Facility as submitted to and approved by Lessee. Such proposed budget for the Facility shall be delivered to Lessee no later than thirty (30) days prior to the commencement of the operational fiscal year of the Facility. (c) Manager or Lessee shall schedule periodic management meetings to be attended by representatives of both Manager and Lessee no less frequently than quarterly semi-annually and shall furnish to Lessee quarterly written progress reports concerning the operation of the Facility.