Common use of Year-End Financial Statements Clause in Contracts

Year-End Financial Statements. The Borrower shall furnish to the Agent as soon as available and in any event within 90 days after the end of each accounting Year of the Trust and the Borrower, a balance sheet of the Trust as at the close of such accounting Year, a statement of earnings and a statement of cash flow of the Trust, each prepared in accordance with Generally Accepted Accounting Principles and on a Consolidated Basis, together with an auditors' report prepared by a reputable nationally recognized independent chartered accounting firm selected by the board of directors of the Borrower containing: (i) such auditors' confirmation that their examinations of such consolidated financial statements were made in accordance with generally accepted auditing standards; and (ii) such auditors' opinion that such consolidated financial statements present fairly in all material aspects the financial position of the Trust as of the close of such accounting Year and the results of its operations and its cash flows for the accounting Year then ended in accordance with Generally Accepted Accounting Principles.

Year-End Financial Statements. The Borrower shall furnish to the Agent as soon as available and in any event within 90 days after the end of each accounting Year of the Trust and the Borrower, a balance sheet of the Trust Borrower as at the close of such accounting Year, a statement of earnings and a statement of cash flow of the TrustBorrower, each prepared in accordance with Generally Accepted Accounting Principles GAAP and on a Consolidated Basis, together with an auditors' ’ report prepared by a reputable nationally recognized independent chartered accounting firm selected by the board of directors of the Borrower containing: (i) such auditors' ’ confirmation that their examinations of such consolidated financial statements were made in accordance with generally accepted auditing standards; and (ii) such auditors' ’ opinion that such consolidated financial statements present fairly in all material aspects the financial position of the Trust Borrower as of the close of such accounting Year and the results of its operations and the changes in its cash flows financial position for the accounting Year then ended in accordance with Generally Accepted Accounting PrinciplesGAAP.