Updated Financial Information. (a) From the date of this Agreement until the Closing Date or the termination of this Agreement pursuant to ARTICLE 7, and subject to Section 5.24(c), Seller will provide to Purchaser (i) at the same time that it receives such materials from the Bank, copies of all future monthly managerial financial packages of the type included in Section 1.3 of the Dataroom and (ii) as promptly as practicable, but in no event later than the thirtieth (30th) day following the end of the relevant quarter-end month, copies of all future Bank Call Reports. Each of the quarterly unaudited consolidated financial statements contained in the Bank Call Reports delivered pursuant to the foregoing clause (ii) will fairly present in all material respects the consolidated financial position of the Bank and its Subsidiaries, as of the dates thereof, and their respective results of operations and cash flows for the periods then ended, in each case, in conformity with GAAP and/or requirements under applicable Law (including applicable regulatory accounting principles) applied on a consistent basis (except as may be indicated in the notes thereto).
(b) If requested by Purchaser, and subject to Section 5.24(c), Sellers will prepare Carveout Financial Statements as promptly as practicable after January 1, 2022. Sellers shall keep Purchasers reasonably informed on a current basis regarding the preparation of such Carveout Financial Statements. For purposes of this Agreement, “Carveout Financial Statements” means (a) a consolidated balance sheet for the Bank and the Transferred Subsidiaries (taking into account the Excluded Assets and Liabilities Transfer) as of December 31, 2021, and the related consolidated statements of comprehensive income for the year ended December 31, 2021, and (b) a consolidated balance sheet for Bank and the Transferred Subsidiaries (taking into account the Excluded Assets and Liabilities Transfer) as of the end of each fiscal quarter subsequent to December 31, 2021, and the related consolidated statements of income for the fiscal year-to-date period then ended. The Carveout Financial Statements will be prepared on a consistent basis as the carveout financial statements included in Section 1.3 of the Dataroom. If Purchaser is required to file financial statements related to the acquired business of the Bank and the Transferred Subsidiaries after the Closing for SEC reporting purposes (including pursuant to Item 9.01 of Form 8-K), then at the request of Purchaser, p...
Updated Financial Information. As soon as is reasonably practicable following the end of any fiscal quarter or fiscal year of Seller, Seller shall deliver to Purchaser pro forma financial information with respect to such quarter or year and with respect to the period from the end of the previous fiscal year to the end of such quarter or year, as applicable, in each case using the same methodology as was used in preparing the Pro Forma Financial Statements, it being understood that the quarterly financial information to be provided shall consist solely of a pro forma income statement.
Updated Financial Information. As soon as reasonably available after the date of this Agreement, KTYB will deliver to SYBT any additional audited consolidated financial statements which have been prepared on its behalf or at its direction, the monthly consolidated unaudited balance sheets and profit and loss statements of KTYB prepared for its internal use, and all other financial reports or statements submitted to regulatory authorities after the date hereof, to the extent permitted by applicable law (collectively, "Subsequent KTYB Financial Statements"). The Subsequent KTYB Financial Statements will be prepared on a basis consistent with KTYB’s past accounting practices and GAAP, to the extent required, and shall present fairly the financial condition and results of operations as of the dates and for the periods presented (except in the case of unaudited financial information for the absence of notes and/or year-end adjustments). The Subsequent KTYB Financial Statements, including the notes thereto, will not include any assets, liabilities or obligations or omit to state any assets, liabilities or obligations, absolute or contingent, or any other facts, which inclusion or omission would render the Subsequent KTYB Financial Statements inaccurate, incomplete or misleading in any material respect.
Updated Financial Information. As soon as reasonably available, Company shall deliver to Acquiror complete copies of all Quarterly Reports on Form 10-QSB, Current Reports on Form 8-K, Annual Reports on Form 10-KSB, and any amendments of past filings, as and when these reports are filed hereafter with the SEC pursuant to the 1934 Act. The financial statements contained in the reports will be prepared in accordance with generally accepted accounting principles consistently applied (except for changes required by applicable governmental authorities or by generally accepted accounting principles) and will present fairly the consolidated financial condition of Company and the Company's Subsidiaries as of the dates indicated and for the periods then ended.
Updated Financial Information. Copy of Identification of Proposer and Equity Members Form B-1 Exhibit C, Section 2.0 Copy of Information About Proposer Organization Form B-2 Exhibit C, Section 2.0 Copy of Information About Major Participants, Major Professional Services Firms and Identified Subcontractors Form B-3 Exhibit C, Section 2.0 Current Prequalification Letter No forms are provided Exhibit C, Section 2.0 Copy of Surety Information No forms are provided Exhibit C, Section 2.0 Guarantor letters of support (as required) Form T. Form B-1 is required for the guarantor. Exhibit C, Section 2.0 Letter regarding material change in financial condition since submission of the QS and for next reporting period No forms are provided Exhibit C, Section 2.0 Design-Build Price Form M-1 Exhibit C, Section 3.1 Design-Build Price Breakdown Form M-1.1 Exhibit C, Section 3.1 ATC Cost Adjustment Form M-1.2 Exhibit C, Section 3.1 DB Contractor Draws/Cash Flow Table Form M-2 Exhibit C, Section 3.1 Maintenance Price Form N Exhibit C, Section 3.2 Schedule Adjustment Credit Form O Exhibit C, Section 3.3
Updated Financial Information. From the date of this Agreement until the Closing Date or the termination of this Agreement pursuant to ARTICLE VII, Seller will provide to Purchaser (i) at the same time that it receives such materials from the Company, unredacted copies of all future monthly financial packages of the type included in Section 1.2.3. of the Dataroom and (ii) as promptly as practicable, but in no event later than the thirtieth (30th) day following the end of the relevant quarter-end month, the quarterly unaudited consolidated financial statements (including any related notes and schedules thereto) of the Company that are prepared for management purposes, for each of the quarters ended thereafter (the “Quarterly Unaudited Financial Statements”). Each of the statements of financial condition included in the Quarterly Unaudited Financial Statements fairly presents, or will fairly present, in all material respects the consolidated financial position of the Company as of its date, and each of the statements of income and changes in stockholders’ equity and cash flows or equivalent statements included in the Quarterly Unaudited Financial Statements fairly presents or will fairly present in all material respects the consolidated results of operations, changes in stockholders’ equity and changes in cash flows, as the case may be, of the Company for the periods set forth therein, in each case in accordance with GAAP, in each case, to (A) any matter to the extent disclosed in the Quarterly Unaudited Financial Statements (or the notes thereto, if applicable), and (B) to normal year-end adjustments.
Updated Financial Information. Parent shall deliver to Purchaser unaudited results of operations and balance sheets for the Group Members for the monthly periods prior to the Closing Date, to the extent prepared by the Group Members in the ordinary course of business. 42
Updated Financial Information. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a system to obtain updated financial information on existing commercial and commercial real estate borrowers.
(a) The system shall include obtaining and analyzing current and satisfactory credit information, including cash flow analysis, where loans are to be repaid from operations. Financial information obtained shall include that for joint makers and guarantors.
(b) Management shall come to a written determination as to whether or not the borrower’s financial condition is satisfactory;
(c) The Board shall be provided the initial list of borrowers from whom financial information has been requested.
(d) The Board shall be provided a monthly, written status report of all updated financials received, since that last monthly report, and management’s determination as to whether or not the borrower’s financial performance is deemed satisfactory to extinguish the borrower’s debt load.
(e) Documentation of the analysis of the financial information shall be placed in the obligor’s credit file.
(2) Effective immediately, the Bank may grant, extend, renew, alter or restructure any loan or other extension of credit only after:
(a) documenting the specific reason or purpose for the extension of credit;
(b) identifying the expected source of repayment in writing;
(c) structuring the repayment terms to coincide with the expected source of repayment;
(d) obtaining and analyzing current and satisfactory credit information, including cash flow analysis, where loans are to be repaid from operations;
(i) Failure to obtain the information in (2)(d) shall require a majority of the full Board (or a delegated committee thereof) to certify in writing the specific reasons why obtaining and analyzing the information in (2)(d) would be detrimental to the best interests of the Bank.
(ii) A copy of the Board certification shall be maintained in the credit file of the affected borrower(s). The certification will be reviewed by this Office in subsequent examinations of the Bank; and
(e) documenting, with adequate supporting material, the value of collateral and properly perfecting the Bank's lien on it where applicable;
(f) providing narrative discussion including strengths and weaknesses; and how the proposed debt, or refinance, affects the obligor’s repayment capacity; and
(g) placing documentation in the obligor’s credit file.
Updated Financial Information. As soon as is reasonably practicable following the end of any fiscal quarter or fiscal year of each Seller, each Seller shall deliver to Purchaser statutory financial statements with respect to such quarter or year and with respect to the period from the end of the previous fiscal year to the end of such quarter or year, as applicable. Sellers agree to file annual statements with the Commonwealth of Massachusetts by February 28, 2003.
Updated Financial Information. As soon as reasonably available after the date of this Agreement, CBI will deliver to SYBT any additional audited consolidated financial statements which have been prepared on its behalf or at its direction, the CBI Interim Financial Statements, and all other financial reports or statements submitted to regulatory authorities after the date hereof, to the extent permitted by applicable law (collectively, "Subsequent CBI Financial Statements"). The Subsequent CBI Financial Statements will be prepared on a basis consistent with CBI’s past accounting practices and GAAP, to the extent required, and shall present fairly the financial condition and results of operations as of the dates and for the periods presented (except in the case of unaudited financial information for the absence of notes and/or year-end adjustments). The Subsequent CBI Financial Statements, including the notes thereto, will not include any assets, liabilities or obligations or omit to state any assets, liabilities or obligations, absolute or contingent, or any other facts, which inclusion or omission would render the Subsequent CBI Financial Statements inaccurate, incomplete or misleading in any material respect.
