Delivery of Audited Financial Statements Clause Samples
The 'Delivery of Audited Financial Statements' clause requires a party, typically a borrower or company, to provide its audited financial statements to another party, such as a lender or investor, within a specified timeframe after the end of each fiscal year. In practice, this means the company must engage an independent auditor to review its financial records and then submit the finalized audited statements—like balance sheets and income statements—to the requesting party, often within 90 or 120 days of year-end. This clause ensures transparency and allows the recipient to monitor the financial health and compliance of the company, thereby reducing informational risk and supporting informed decision-making.
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Delivery of Audited Financial Statements. As promptly as practicable after the date hereof, but in no event later than seven business days after the date hereof, the Company shall deliver to Parent an audited consolidated balance sheet (including the related notes thereto) of the Company and the Company Subsidiaries, dated as of January 31, 2001, and each of the related audited consolidated statements of income, retained earnings, shareholders' equity and cash flows of the Company and the Company Subsidiaries (including, in each case, any notes thereto) (collectively, the "Audited Financial Statements"), together with an unqualified opinion of the Company Accountants with respect to such Audited Financial Statements.
Delivery of Audited Financial Statements. (a) Within three (3) business days of its receipt thereof, but in no event more than ninety (90) days after the Closing Date, the Company shall deliver to Parent the audited Balance Sheet and the audited statements of operations, stockholders’ (deficit) equity and cash flows for the years ended December 31, 2003 and 2002 and for the period from March 1992 (inception) to December 31, 2003, together with the related independent auditors report of M▇▇▇▇▇ & Kleigman LLP. Notwithstanding the foregoing as it relates to the period in which such audited financial statements shall be delivered, the Company shall use its best efforts to deliver such financial statements to Parent within fifteen (15) days of the Closing Date. Such audited financial statements shall not contain results which are materially and adversely different from the results presented in the unaudited financial statements attached hereto as Schedule 2.10.
(b) Until such time as such audited financial statements and related auditors’ report of M▇▇▇▇▇ & Kliegman LLP are delivered, the parties hereto agree that Corporate Stock Transfer, Inc. and Guaranty Bank & Trust, as escrow agent and escrow bank in the Private Placement, shall hold in escrow $1,500,000 of the net proceeds received in the Private Placement, notwithstanding the provisions of that certain Escrow Agreement by and between the Company, Parent, Corporate Stock Transfer, Inc., Guaranty Bank & Trust and B▇▇▇▇▇▇▇▇▇ Securities Corporation, dated April 20, 2004, and that certain Placement Agent Agreement by and between the Company, Parent and B▇▇▇▇▇▇▇▇▇ Securities Corporation, dated as of April 8, 2004. If such audited financial statements and related auditors’ report are delivered within ninety (90) days of the Effective Time, then the funds withheld pursuant to this Section 6.11(b) shall be promptly remitted to Parent. If such audited financial statements and related auditors’ report are not delivered within ninety (90) days of the Effective Time, then such withheld funds shall be returned to investors in the Private Placement on a pro rata basis in accordance with their investment, unless and except to the extent that such delay is the result of (i) the breach of this Agreement by or negligence or willful misconduct of Parent, Acquisition Corp. or any of their respective affiliates prior to the Closing, or (ii) actions taken or conduct by Sovereign or its affiliates which directly effects or is otherwise intended to deliberately interfer...
Delivery of Audited Financial Statements. As soon as practicable, but in no event later than 10 Business Days Before the first Closing, Parent shall deliver to Purchaser audited combined financial statements of the Target Companies as at December 31, 2010, 2011 and 2012 and related statements of income, stockholders' equity and cash flows for fiscal years then ended of the Target Companies, prepared in accordance with GAAP to the extent required pursuant to Rule 3-05 of Regulation S-X, (the “Historical Financial Statements”) and such other financial statements as may be required in order for Purchaser to meet its regulatory external financial reporting obligations under United States securities Laws. All costs and expenses associated with the audit and preparation of the Historical Financial Statements, the audit report and any comfort letters in connection therewith, shall be borne equally by Parent, on the one hand, and Purchaser, on the other hand. Purchaser and its Affiliates shall cooperate with Parent and take all such actions as Parent or its auditor may reasonably request in connection with the preparation of the Historical Financial Statements.
Delivery of Audited Financial Statements. The Purchaser shall deliver to the Vendor audited financial statements for its fiscal year ending December 31, 1997 on the earlier of two Business Days prior to the Closing Date and February 27, 1998.
Delivery of Audited Financial Statements. The Company shall use reasonable best efforts to deliver the Audited Financial Statements to the Purchaser prior to July 31, 2011, and in any event shall cause the Audited Financial Statements to be delivered to the Purchaser prior to August 31, 2011.
Delivery of Audited Financial Statements. GWW shall have delivered to Giga the GWW 2020 Audited Financial Statements.
Delivery of Audited Financial Statements. The Company shall deliver to Parent the audited consolidated balance sheet of the Company and its Subsidiaries as of March 30, 2014 and the related audited consolidated statements of operations, stockholder’s equity and cash flows for the fiscal year then ended (collectively, the “Audited Financial Statements”), together with an unqualified audit opinion with respect thereto by ▇▇▇▇ ▇▇▇▇▇ LLP (the “Audit Opinion”) by 5:00 p.m. (Pacific time) on June 30, 2014.
Delivery of Audited Financial Statements. Sun Group shall have delivered to CRFU audited financial statements and an audit report thereon for the year ended December 31, 2005 and unaudited financial statements for the quarter ended August 31, 2006, any required audits shall be prepared by a PCAOB member audit firm in accordance with U.S. GAAP at Sun Group’s expense.
Delivery of Audited Financial Statements. The Company shall deliver (i) audited financial statements of the Company for the fiscal year ended December 31, 2023 and 2022 and audited by a PCAOB-registered auditing firm and (ii) unaudited financial statements of the Company for the fiscal quarters required under applicable SEC rules and regulations, in each case if required under applicable SEC rules and regulations in relation to the Closing.
Delivery of Audited Financial Statements. At or prior to the Closing, Shareholders shall have delivered to OneSource the Company's Balance Sheets as of December 31, 2002 and December 31, 2003, and the Company's Statements of Operations, Statements of Shareholders' Equity, and Statements of Cash Flows for the two years ended December 31, 2003, and all related schedules and notes to the foregoing, as audited and reported on by independent public accountants selected by OneSource in its sole discretion; provided that OneSource shall pay all fees and expenses of such accountants in connection with such audit. Such audited financial statements shall be satisfactory in form and substance to OneSource, in its sole discretion.