Common use of Annual Statements of Borrower Clause in Contracts

Annual Statements of Borrower. (A) an unqualified, audited financial statement, reasonably acceptable to the Lender, prepared in accordance with GAAP on a consolidated basis, including balance sheets as of the end of such fiscal year and statements of income and retained earnings and a statement of cash flows, and setting forth in comparative form the balance sheet, income statement, retained earnings and cash flow figures for the preceding fiscal year.