Common use of Annual Operating Statements Clause in Contracts

Annual Operating Statements. Borrower shall deliver to Lender, within --------------------------- 90 days after the end of each Fiscal Year, (a) an audited balance sheet for Borrower as of the end of such Fiscal Year and a statement of profit and loss for Borrower's operations, together with all supporting schedules and (b) certificates of Borrower's chief financial officer and a certified public accountant acceptable to Lender that such documents (i) were prepared in accordance with generally accepted accounting principles applied on a consistent basis, (ii) fairly present Borrower's financial condition, (iii) show all material liabilities, direct and contingent, and (iv) fairly present the results of Borrower's operations.

Annual Operating Statements. Borrower shall deliver to Lender, --------------------------- within --------------------------- 90 days after the end of each Fiscal Year, (a) an audited balance sheet for Borrower as of the end of such Fiscal Year and a statement of profit and loss for Borrower's operations, together with all supporting schedules and (b) certificates of Borrower's chief financial officer and a certified public accountant acceptable to Lender that such documents (i) were prepared in accordance with generally accepted accounting principles applied on a consistent basis, (ii) fairly present Borrower's financial condition, (iii) show all material liabilities, direct and contingent, and (iv) fairly present the results of Borrower's operations.