Financial and Collateral Reporting Sample Clauses
The Financial and Collateral Reporting clause requires parties to regularly provide financial statements and information about the status of any collateral involved in the agreement. Typically, this means one or both parties must submit periodic reports detailing their financial health and the value or condition of pledged assets, such as quarterly balance sheets or updates on collateral held. The core function of this clause is to ensure transparency and ongoing assessment of creditworthiness, thereby reducing risk and enabling timely responses to changes in financial stability or collateral value.
Financial and Collateral Reporting. The Domestic Borrower will maintain, for itself and each of its Subsidiaries, a system of accounting established and administered to produce financial statements that conform with GAAP, and will, through the Agent, furnish to the Lenders:
(a) within 120 days after the close of each Fiscal Year of the Domestic Borrower and its Subsidiaries, an unqualified (as to scope and without a going concern or similar qualifier) audit report certified by independent certified public accountants acceptable to the Agent, prepared in all material respects in accordance with GAAP on a consolidated and consolidating basis (consolidating statements need not be (1) prepared in accordance with GAAP or (2) certified by such accountants), including balance sheets as of the end of such Fiscal Year and a statement of profit and loss for the period then ended, and a consolidated statement of changes in shareholders’ equity and a consolidated statement of cash flows, accompanied by (i) any management letter prepared by said accountants and (ii) a certificate of said accountants that, in the course of their examination necessary for their certification of the foregoing, they have obtained no knowledge of any Default or Unmatured Default, or if, in the opinion of such accountants, any Default or Unmatured Default shall exist, stating the nature and status thereof;
(b) within 50 days after the close of the first three quarterly periods of each Fiscal Year of the Domestic Borrower and its Subsidiaries, consolidated and consolidating unaudited balance sheets as at the close of each such Fiscal Quarter and consolidated and consolidating (which consolidating statements need not be prepared in accordance with GAAP) statements of profit and loss for the period then ended, and a consolidated statement of changes in shareholders’ equity and a consolidated statement of cash flows for the period from the beginning of the applicable Fiscal Year to the end of such Fiscal Quarter, all certified by its chief financial officer and prepared in all material respects in accordance with GAAP (except for consolidating statements need not be prepared in accordance with GAAP and except for exclusion of footnotes and subject to normal year-end audit adjustments);
(c) within 30 days after the close of each Fiscal Month of the Domestic Borrower and its Subsidiaries, consolidated and consolidating unaudited balance sheets as at the close of each such Fiscal Month and consolidated and consolidating (which consol...
Financial and Collateral Reporting. So long as this Agreement shall be in effect or any of the Obligations shall be outstanding, Borrower covenants and agrees as follows:
Financial and Collateral Reporting. In addition to the other materials and information required to be provided pursuant to the terms of the Credit Agreement, the Loan Parties shall provide Administrative Agent, on the applicable day specified below, the following documents (each in such form and detail as the Administrative Agent from time to time may specify):
Financial and Collateral Reporting. Blocked Account Banks
Financial and Collateral Reporting. So long as this Agreement shall be in effect or any of the Obligations shall be outstanding, Borrower shall furnish to Lender:
Financial and Collateral Reporting. Within 10 business days after the end of each fiscal month
Financial and Collateral Reporting. Borrower shall deliver, or cause to be delivered to Agent (and Lenders as to (a), (b), (c) and (d) herein below) each of the following:
Financial and Collateral Reporting. Pursuant to the terms of the Credit Agreement, the Loan Parties shall provide Agent, on the applicable day specified below, the following documents (each in such form and detail as the Agent from time to time may specify):
Financial and Collateral Reporting. Section 8.1 Financial Statements.................................................................. 41 Section 8.2
Financial and Collateral Reporting. Grantor shall provide Lender with all financial statements, financial reports, reports relating to the Collateral and such other reports and information as may be reasonably requested by Lender from time to time prepared for Grantor substantially similar to the financial statements, reports and information required to be delivered by Borrowers to Lender pursuant to the Loan Agreement.