Common use of Accounts and Information Clause in Contracts

Accounts and Information. The Borrower undertakes with each of the Finance Parties that, from the Signing Date until all its liabilities and obligations under the Financing Documents have been permanently and unconditionally discharged: (a) Preparation of accounts: it will prepare the financial statements referred to in paragraph (b) (Information) below on a basis consistently applied in accordance with the Accounting Principles and those financial statements shall give a true and fair view of the results of its operations for the period in question and the state of its affairs as at the date to which the financial statements are made up; (b) Information: it will deliver to the Facility Agent in sufficient numbers for each of the Lenders: (i) as soon as they become available (and in any event within 60 (sixty) days of the end of each of its financial periods) copies of its consolidated annual (audited) financial statements for that period which shall contain an income statement, a balance sheet and a cash flow statement and be audited and certified by a firm of independent accountants of recognised international standing; (ii) as soon as they become available (and in any event within 45 (forty five) days of the end of each of its first three quarters of each of its financial periods) copies of its consolidated quarterly (unaudited) financial statements for that quarter which shall contain an income statement, a balance sheet and a cash flow statement; (iii) with each set of financial statements delivered under paragraphs (i) and (ii) above, a certificate of the Borrower setting out in reasonable detail computations establishing compliance with clause 24.4 (Financial Covenants) in form and content satisfactory to the Facility Agent; (iv) promptly, all notices or other documents despatched by the Borrower to its shareholders (or any class thereof), the holders of any debt securities or its creditors generally, provided that such notices or documents contain information which, if disclosed to the Lenders, may render the Lenders to determine that the Obligor's ability to observe or perform its obligations under the Financing Documents would be materially and adversely affected; and (v) promptly, such additional financial or other information as the Facility Agent may from time to time reasonably request; (c) Details of bank accounts: on the last Business Day of March of each calendar year, it will deliver to the Facility Agent a letter signed by its authorised persons setting out details of all bank accounts which the Borrower has at such time and such letter shall be in form and content reasonably satisfactory to the Facility Agent and shall include such matters as the balances standing in each bank account, the types of accounts and the financial institutions with which such accounts have been opened, the first letter of which shall be so delivered by the Borrower on the last Business Day of March 2002; and (d) Accounting date and auditor: it will inform the Facility Agent immediately after it proceeds with the change of the date of its financial year end from 24 November or the change of its auditor and, in the case of change in its auditor, it will use its best efforts to appoint a substitute or replacement auditor of recognised international standing.

Accounts and Information. The Borrower undertakes with each of Company shall supply to the Finance Parties that, from Facility Agent and in sufficient copies for all the Signing Date until all its liabilities and obligations under the Financing Documents have been permanently and unconditionally dischargedBanks: (a) Preparation of accounts: it will prepare the financial statements referred to in paragraph (b) (Information) below on a basis consistently applied in accordance with the Accounting Principles and those financial statements shall give a true and fair view of the results of its operations for the period in question and the state of its affairs as at the date to which the financial statements are made up; (b) Information: it will deliver to the Facility Agent in sufficient numbers for each of the Lenders: (i) as soon as they become are available (and in any event within 60 (sixty) < > days of after the end of the relevant financial year): (i) its audited accounts for each of its financial periodsyears; and (ii) copies the audited consolidated accounts of its consolidated annual (audited) the Sponsor's Group for each of the Sponsor's financial statements for that period which shall contain an income statement, a balance sheet and a cash flow statement and be audited and certified by a firm of independent accountants of recognised international standingyears; (iib) as soon as they become are available (and in any event within 45 (forty five) < > days of after the end of each of the relevant half-years): (i) its unaudited accounts for the first three quarters half of each of its financial periodsyears; and (ii) copies the unaudited consolidated accounts of its consolidated quarterly the Sponsor's Group for the first half of each of the Sponsor's financial years; (unauditedc) financial statements together with each proposed Company's Forecast and in any event within 30 days after each Calculation Date: (i) [specify information required by the Facility Agent to calculate Cover Ratios] (ii) a report setting out details of (i) quantities of Company Petroleum (a) produced and (b) disposed of during the Calculation Period ending on that Calculation Date, and (ii) the consideration payable and (if different) paid for that quarter which shall contain an income statement, a balance sheet and a cash flow statement;such disposals; and (iii) if that Calculation Date falls on or before the Completion Date, a construction progress report (in scope and form acceptable to the Technical Bank); (d) together with each set of financial statements delivered under paragraphs proposed Company's Forecast, an operation and production report (i) in scope and (ii) above, a certificate of form acceptable to the Borrower setting out in reasonable detail computations establishing compliance with clause 24.4 (Financial CovenantsTechnical Bank) in form and content satisfactory relation to the Project for the immediately preceding calendar year; (e) promptly after request by the Facility Agent, such details as the Facility Agent may reasonably request of the Development Costs or other expenditure against which the proceeds of any Credit have been applied; (ivf) promptlypromptly after receiving them, copies of each monthly report prepared by or for the Operator in relation to the Project; (g) promptly after receiving them each evaluation report containing details of remaining reserves of the Project Field(s) and/or of anticipated production profiles for such reserves prepared by or for the Operator or the Company; (h) all notices or other documents despatched by the Borrower Company or the Sponsor to its shareholders (or any class thereof), the holders of any debt securities them) in their capacity as such or to its creditors generally, provided that such notices (or documents contain information which, if disclosed to any class of them) at the Lenders, may render the Lenders to determine that the Obligor's ability to observe or perform its obligations under the Financing Documents would be materially and adversely affected; and (v) promptly, such additional financial or other information same time as the Facility Agent may from time to time reasonably requestthey are despatched; (ci) Details promptly upon becoming aware of bank accounts: on them, details of any litigation, arbitration or administrative proceedings which are current, threatened or pending against the last Business Day Company; (j) promptly upon receipt of March the same, copies of each calendar year, it will deliver any budgets and/or cash-call forecasts delivered to the Facility Agent a letter signed Company by its authorised persons setting out the Operator; (k) promptly upon becoming aware of it, reasonable details of all bank accounts which the Borrower has at such time and such letter shall be in form and content reasonably satisfactory to the Facility Agent and shall include such matters as the balances standing in each bank account, the types any: (i)proposed or anticipated abandonment of accounts and the financial institutions with which such accounts have been opened, the first letter of which shall be so delivered by the Borrower on the last Business Day of March 2002; and (d) Accounting date and auditor: it will inform the Facility Agent immediately after it proceeds with the change any of the date of its financial year end from 24 November or the change of its auditor and, in the case of change in its auditor, it will use its best efforts to appoint a substitute or replacement auditor of recognised international standing.Project Facilities;