Common use of Audited Annual Statements Clause in Contracts

Audited Annual Statements. As soon as available and in any event within one hundred twenty (120) days after the close of each fiscal year of Company, Company shall furnish to each of Banks copies of the Consolidated balance sheet of Company and its Subsidiaries as of the close of such fiscal year and Consolidated statements of income, shareholders' equity and the statement of cash flow of Company and its Subsidiaries for such fiscal year, in each case setting forth in comparative form the figures for the preceding fiscal year and accompanied by a separate opinion (which shall not be qualified by reason of any limitation imposed by Company) of independent public accountants of recognized national standing selected by Company and satisfactory to Agent, to the effect that such financial statements have been prepared in accordance with Generally Accepted Accounting Principles, and that the examination of such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards. In addition, as soon as available and in any event within 120 days after the close of each fiscal year, Company shall furnish to each of Banks a report of independent public accountants of recognized standing selected by Company and satisfactory to Agent containing a computation of the covenants contained in Sections 9.01, 9.02, 9.03, 9.04, 9.05 or 9.06, all in reasonable detail.

Appears in 1 contract

Sources: Revolving Credit Agreement (Americredit Corp)

Audited Annual Statements. As soon as available and in any event within one hundred twenty (120) days after the close of each fiscal year of Company, Company shall furnish to each of Banks copies of the Consolidated balance sheet of Company and its Subsidiaries as of the close of such fiscal year and Consolidated statements of income, shareholders' equity and the statement of cash flow of Company and its Subsidiaries for such fiscal year, in each case setting forth in comparative form the figures for the preceding fiscal year and accompanied by a separate opinion (which shall not be qualified by reason of any limitation imposed by Company) of independent public accountants of recognized national standing selected by Company and satisfactory to Agent, to the effect that such financial statements have been prepared in accordance with Generally Accepted Accounting Principles, and that the examination of such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards. In addition, as soon as available and in any event within 120 days after the close of each fiscal year, Company shall furnish to each of Banks a report of independent public accountants of recognized standing selected by Company and satisfactory to Agent containing a computation of the covenants contained in Sections 9.01, 9.02, 9.03, 9.04, 9.05 or 9.05, 9.06, 9.07, 9.10, 9.13 and 9.14, all in reasonable detail.

Appears in 1 contract

Sources: Revolving Credit Agreement (Americredit Corp)