Common use of Annual Audited Statements Clause in Contracts

Annual Audited Statements. As soon as available and in any event within ninety (90) days after the end of each fiscal year ending after the Closing Date, annual audited Financial Statements, audited by the Company's Auditors, showing the financial condition and results of operations of the Company as at the close of such fiscal year and for such fiscal year, all prepared in accordance with GAAP, accompanied by an opinion of the Company's Auditors, which opinion shall be without qualification and shall state that such audited Financial Statements present fairly the financial position of the Company as of the date of such Financial Statements and the results of its operations and changes in its financial position for the period covered thereby, and that their examination in connection with such Financial Statements has been made in accordance with GAAP. This reporting requirement may be satisfied by the Company providing to the Bank a copy of Escalade's annual audited Financial Statements which are inclusive of and show all consolidating data and information related to the Company.