Requirements as to financial statements The set of financial statements delivered by the Borrower under Clause 12.1.1 (Financial statements):
(a) shall be certified by an officer of the Guarantor (as the case may be) as fairly representing its financial condition as at the date as at which those financial statements were drawn up;
(b) in the case of the audited financial statements for the Guarantor, for that financial year referred to in Clause 12.1.1(a), shall provide details of all off balance sheet and time charter hire commitments;
(c) shall be prepared using the IFRS, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, the Borrower notifies the Agent that there has been a change in the IFRS, the accounting practices or reference periods and the Guarantor’s auditors deliver to the Agent:
(i) a description of any change necessary for those financial statements to reflect the IFRS, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the Original Financial Statements.
Requirements as to financial. Statements Each set of Financial Statements delivered by the Borrowers under Clause 12.1.1 (Financial Statements):
(a) shall be certified by a director of the relevant Borrower as fairly representing its financial condition as at the date as at which those Financial Statements were drawn up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of Financial Statements, the relevant Borrower notifies the Agent that there has been a change in GAAP, the accounting practices or reference periods and the relevant Borrower’s auditors deliver to the Agent:
(i) a description of any change necessary for those Financial Statements to reflect the GAAP, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those Financial Statements and that indicated in the Original Financial Statements.
Requirements as to financial. STATEMENTS Each set of financial statements delivered by the Borrower under Clause 12.1.1:
(a) shall be certified by an authorised signatory of the Borrower as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared in accordance with GAAP.
Requirements as to financial. Statements The Borrower shall ensure that:
(i) each set of financial statements delivered by it pursuant to this Clause 12 is prepared on the same basis as was used in the preparation of the Original Consolidated Financial Statements and in accordance with US GAAP and consistently applied;
(ii) each set of financial statements delivered by it pursuant to this Clause 12 is certified by a duly authorised officer of the Borrower as giving a true and fair view of its financial condition or, as the case may be, the financial condition of the Borrower's Group as at the end of the period to which those financial statements relate and of the results of its operations or, as the case may be, the Borrower's Group during such period; and
(iii) each set of financial statements delivered by it pursuant to Clause 12.1 (Annual Statements) has been audited by an internationally recognised firm of independent auditors qualified to audit accounts in accordance with US GAAP.
Requirements as to financial. Statements The Borrower shall and shall procure that each of the Obligors shall ensure that each set of financial statements delivered by it pursuant to this Clause: (a) is prepared on the same basis as was used in the is prepared on the same basis as was used in the preparation of its Original Financial Statements and in accordance with accounting principles generally accepted in the country of its incorporation and business and consistently applied; (b) is certified by a duly authorised officer (including the managing director or equivalent person) of such Obligor as giving a true and fair view of its financial condition (or, in the case of financial statements of the Guarantor, the financial condition of the Group) as at the end of the period to which those financial statements relate and of the results of its (or, as the case may be, the Group's) operations during such case may be, the Group's) operations during such period and confirming that there are no liabilities confirming that there are no liabilities (contingent or otherwise) which were not disclosed thereby (or by the notes thereto) reserved against therein nor were there at that date any unrealised or anticipated losses arising from commitments entered into by it which were not so disclosed or reserved against; (c) to the extent that the Facilities Agreement sets out financial condition ratios to be complied with, a Compliance Certificate setting out (in reasonable detail) computations as to compliance with reasonable detail) computations as to compliance with Clause 19 (Financial Condition) of the Master Terms and paragraph as at the date as at which those financial statements were drawn up; each Compliance Certificate (to the extent one is required to be delivered) shall be signed by a duly authorised officer Certificate shall be signed by a duly authorised officer (including the Chief Financial Officer or equivalent person) of the relevant Obligors and, if required to be to be delivered with the financial statements delivered pursuant to Clause 2.1 (Annual Statements) of the Facilities Letter, shall be reported on by the relevant Facilities Letter, shall be reported on by the relevant Obligor's auditors; and (d) each set of financial statements delivered by it pursuant to Clause 2.1 (Annual Statements) of the Facilities Letter has been audited by an internationally recognised firm of audited by an internationally recognised firm of independent auditors licensed to practise in the relevant ...
Requirements as to financial statements Each set of financial statements delivered by the Borrower or the Guarantor under Clause 12.1.1 (Financial statements):
(a) shall be certified by an officer or the chief accountant of the Borrower or the Guarantor (as the context requires) as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using IFRS, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, the Borrower or the Guarantor notifies the Lender that there has been a change in IFRS, the accounting practices or reference periods and the Borrower’s or Guarantor’s auditors deliver to the Lender:
(i) a description of any change necessary for those financial statements to reflect the IFRS, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Lender, to enable the Lender to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the Original Financial Statements.
Requirements as to financial statements Each set of financial statements delivered by the Borrower or the Guarantor, under Clause 12.1.1 (Financial statements):
(a) shall be certified by a director of the Borrower or the Guarantor (as the context may require), as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in Xxxxxx. to any set of financial statements, the Borrower notifies the Lender that there has been a change in GAAP, the accounting practices or reference periods and the Borrower's auditors deliver to the Lender:
(i) a description of any change necessary for those financial statements to reflect the GAAP, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Lender, to enable the Lender to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the Original Financial Statements.
Requirements as to financial statements Each set of financial statements delivered by the Borrower under Clause 10.2.1:
(a) shall be certified by an officer of the Borrower to the best of its knowledge and belief as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistently applied unless, in relation to any set of financial statements, the Borrower notifies the Agent that there has been a change in GAAP, the accounting practices or reference periods and the Borrower’s auditors deliver to the Agent:
(i) a description of any change necessary for those financial statements to reflect the GAAP, accounting practices and reference periods upon which the previous financial statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the previous financial statements.
Requirements as to financial statements Each set of financial statements delivered by the Borrower under Clause 12.1.1 (Financial statements):
(a) shall be certified by a director or an authorised signatory of the Borrower, Cardiff and the Guarantor, respectively, as fairly representing their financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, the Borrower, Cardiff or the Guarantor notifies the Lender that there has been a change in GAAP, the accounting practices or reference periods and the Borrower’s, Cardiff’s or the Guarantor’s auditors, respectively, deliver to the Lender:
Requirements as to financial. Statements Each set of Financial Statements delivered by the Group and the Corporate Guarantors under Clause 12.1.1 (Financial statements):
(a) shall be certified by a director of the relevant Borrower, the Group or the Corporate Guarantors (as the context may require) as fairly representing its financial condition as at the date as at which those Financial Statements were drown up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistent with those applied in the preparation of the relevant Original Financial Statements unless, in relation to any set of Financial Statements, the relevant Security Party notifies the Agent that there has been a change in GAAP, the accounting practices or reference periods and the relevant Security Party’s auditors deliver to the Agent:
(i) a description of any change necessary for those Financial Statements to reflect the GAAP, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those Financial Statements and that indicated in the Original Financial Statements.
