Common use of Semiannual Reports Clause in Contracts

Semiannual Reports. On each Semiannual Valuation Date, a semiannual unaudited statement (each a "Semiannual Report"), prepared in accordance with generally accepted accounting principles, listing (i) the value (as determined in accordance with the definition of "Asset Coverage Numerator") of all of such Borrower's assets and (ii) the Asset Coverage Ratio (and, in each case, showing in reasonable detail the calculation thereof), all as of the open of business on such Semiannual Valuation Date, and certified by the Treasurer of such Borrower, which certification shall also include the calculations required to establish the Asset Coverage Ratio as of such Semiannual Valuation Date.