Common use of Financial Statements and Condition Clause in Contracts

Financial Statements and Condition. The audited balance sheet of the City as of December 31, 2016 and the related audited statements of earnings, changes in fund equity and cash flows of the City for the Fiscal Years then ended, and the accompanying footnotes thereon, dated December 31, 2016, reported on by BKD, LLP (“BKD”) independent certified public accountants, have been delivered to the Lender. Consistent with BKD’s opinion dated [May 27, 2016], the City believes these financial statements, as of the Effective Date, fairly present the financial condition of the City as at such dates and the results of the operations of the Airport System, for the periods covered by such statements, all in conformity with GAAP. Since December 31, 2016, there has been no material adverse change in the condition (financial or otherwise), business or operations of the Airport System or the City.

Financial Statements and Condition. The audited balance sheet of the City as of December 31, 2016 2018 and the related audited statements of earnings, changes in fund equity and cash flows of the City for the Fiscal Years then ended, and the accompanying footnotes thereon, dated December 31, 20162018, reported on by BKD, LLP (“BKD”) independent certified public accountants, have been delivered to the Lender. Consistent with BKD’s opinion dated [May 27, 20162019], the City believes these financial statements, as of the Effective Closing Date, fairly present the financial condition of the City as at such dates and the results of the operations of the Airport System, for the periods covered by such statements, all in conformity with GAAP. Since December 31, 20162018, there has been no material adverse change in the condition (financial or otherwise), business or operations of the Airport System or the City.

Financial Statements and Condition. The audited balance sheet of the City as of December 31, 2016 2018 and the related audited statements of earnings, changes in fund equity and cash flows of the City for the Fiscal Years then ended, and the accompanying footnotes thereon, dated December 31, 20162018, reported on by BKD, LLP (“BKD”) independent certified public accountants, have been delivered to the LenderPurchaser. Consistent with BKD’s opinion dated [May 27, 2016], the City believes these financial statements, as of the Effective Closing Date, fairly present the financial condition of the City as at such dates and the results of the operations of the Airport System, for the periods covered by such statements, all in conformity with GAAP. Since December 31, 20162018, there has been no material adverse change in the condition (financial or otherwise), business or operations of the Airport System or the City.

Financial Statements and Condition. The audited balance sheet of the City as of December 31, 2016 and the related audited statements of earnings, changes in fund equity and cash flows of the City for the Fiscal Years then ended, and the accompanying footnotes thereon, dated December 31, 2016, reported on by BKD, LLP (“BKD”) independent certified public accountants, have been delivered to the LenderPurchaser. Consistent with BKD’s opinion dated [May 27, 20162017], the City believes these financial statements, as of the Effective Datedate hereof, fairly present the financial condition of the City as at such dates and the results of the operations of the Airport System, for the periods covered by such statements, all in conformity with GAAP. Since December 31, 2016, there has been no material adverse change in the condition (financial or otherwise), business or operations of the Airport System or the City.