Requirements for Financial Statements Sample Clauses

Requirements for Financial Statements. Borrower shall, and shall cause GEN and, to the extent applicable, Operator to, meet the following requirements in connection with the preparation of the financial statements: [i] all audited financial statements shall be prepared in accordance with generally accepted accounting principles consistently applied; [ii] all unaudited financial statements shall be prepared in a manner substantially consistent with prior audited and unaudited financial statements submitted to Lender; [iii] all financial statements shall fairly present the financial condition and performance for the relevant period in all material respects; [iv] the financial statements shall include all notes to the financial statements and a complete schedule of material contingent liabilities and transactions with Affiliates; and [v] the audited financial statements shall contain an unqualified opinion.

Requirements for Financial Statements. The Borrower shall ensure that each set of financial statements supplied under this Agreement is prepared using IFRS.

Requirements for Financial Statements. Tenant shall meet the following requirements in connection with the preparation of the financial statements: [i] all audited financial statements shall be prepared in accordance with general accepted accounting principles consistently applied; [ii] all unaudited financial statements shall be prepared in a manner substantially consistent with prior audited and unaudited financial statements submitted to Landlord; [iii] all financial statements shall fairly present the financial condition and performance for the relevant period in all material respects; [iv] the audited financial statements shall include all notes to the financial statements and a complete schedule of contingent liabilities and transactions with Affiliates; and [v] the audited financial statements shall contain an unqualified opinion, except to the extent such opinion references a change in treatment made in accordance with generally accepted accounting principles, provided, however, this subsection [v] shall not be deemed violated if the opinions provided for fiscal year 2001 and fiscal year 2002 contain a going concern qualification.

Requirements for Financial Statements. Tenant shall meet the following requirements in connection with the preparation of the financial statements: [i] all audited financial statements shall be prepared in accordance with generally accepted accounting principles consistently applied; [ii] all unaudited financial statements shall be prepared in a manner substantially consistent with prior audited and unaudited financial statements prepared by Tenant and submitted to Landlord; [iii] all financial statements shall fairly present the financial condition and performance for the relevant period in all material respects; [iv] the financial statements shall include all notes to the financial statements; [v] a copy of all management letters and a complete schedule of contingent liabilities and transactions with Affiliates shall be provided by management; [vi] in the event the audited financial statements do not include an unqualified opinion, Company shall provide to Landlord, within thirty (30) days after the delivery of the audited financial statements to Landlord, a written plan illustrating its planned actions necessary to remedy the qualifications identified in the auditor’s opinion, which plan must be implemented prior to the issuance of the next annual audit so that such next audit contains an unqualified opinion and [vii] the audited financial statements shall be prepared in accordance with GAAP requirements by a nationally or regionally recognized independent certified public accountant subject to approval by Landlord, which shall not be unreasonably withheld.

Requirements for Financial Statements. The Borrower shall procure that each set of financial statements provided in accordance with Clause 17.1 (Financial Statements), is prepared using the same accounting principles and reporting periods used to prepare the Group’s last financial statements. If any Obligor notifies the Facility Administrator of changes in accounting principles or reporting periods, the Borrower shall procure that the Borrower's Auditors and the auditors of the relevant Obligor provide the Facility Administrator with the following: 17.3.1 a description of the changes to be made to the relevant financial statements to reflect the changes made to the accounting principles and reporting periods that were used in the preparation of the Original Financial Statements of the Group or such Obligor; and 17.3.2 information in a form and content that meets the requirements of the Facility Administrator and is sufficient to enable Lenders to verify that the Borrowers have met the requirements of Clause 18 (Financial Covenants) and to adequately assess the Obligor’s financial condition based on current financial statements compared to this Obligor’s Original Financial Statements.

Requirements for Financial Statements. (a) Each set of financial statements delivered by SUNDAY and MCL pursuant to Clause 22.1 (Quarterly financial accounts) or Clause 22.2 (Annual financial statements) shall be certified by a Financial Officer and (in respect of Clause 22.2 (Annual financial statements)) by a director of the relevant company as fairly representing (to the best of that person's knowledge, after due and careful enquiry) its (or, as the case may be, its consolidated) financial condition and operations as at the end of and for the period in relation to which those financial statements were drawn up. (b) Each set of financial statements delivered by SUNDAY and MCL pursuant to paragraphs (a)(i) and (b) of Clause 22.2 (Annual financial statements) shall be reported on by SUNDAY's and MCL's auditors (without any "going concern" or similar qualification or exception and without any exception to the scope of the audit) and shall include a confirmation that those financial statements present fairly in all material respects the financial condition and results of operations of each member of the Group in respect of which those financial statements have been prepared and have been prepared in accordance with GAAP. (c) SUNDAY shall procure that each set of financial statements of it, MCL, the Group, the Credit Net and the MCL Group delivered pursuant to Clause 22.1 (Quarterly financial accounts) or Clause 22.2 (Annual financial statements) are prepared using GAAP, accounting practices and financial reference periods in each case consistent with the Applicable Accounting Principles unless, in relation to any set of financial statements, it notifies the Agent that there has been a change in GAAP, the accounting practices or reference periods and its auditors deliver to the Agent:- (i) a description of any change necessary for the relevant financial statements to reflect the Applicable Accounting Principles; and (ii) sufficient information to enable the Lenders to determine whether Clause 23 (Financial covenants) has been complied with, to calculate the Excess Cash Flow, to determine any other relevant matter and/or to make a true and fair comparison between the financial position of the relevant persons before and after that change. Any reference in this Agreement to those financial statements shall be construed as a reference to those financial statements as adjusted to reflect the Applicable Accounting Principles.

Requirements for Financial Statements. Tenant shall meet the following requirements in connection with the preparation of the financial statements: [i] all audited financial statements shall be prepared in accordance with generally accepted accounting principles consistently applied; [ii] all unaudited financial statements shall be prepared in a manner substantially consistent with prior audited and unaudited financial statements submitted to Landlord; [iii] all financial statements shall fairly present the financial condition and performance for the relevant period in all material respects; [iv] the financial statements shall include all notes to the financial statements and a complete schedule of contingent liabilities and transactions with Affiliates; [v] the audited financial statements shall contain an unqualified opinion; [vi] the audited financial statements shall be prepared in accordance with GAAP requirements by a nationally or regionally recognized independent certified public accountant; and [vii] all financial statements relating to an Encumbered Facility shall otherwise be in form and content required under the Assumed Mortgage.

Requirements for Financial Statements. The Borrowers shall procure that each set of financial statements provided in accordance with Clause 17.1 (Financial Statements) is prepared using the same accounting principles and reporting periods used to prepare the Group’s last financial statements (except for possible changes in accounting policy regarding internal capitalisation). If any Obligor notifies the Facility Administrator of changes in accounting principles or reporting periods, the Borrowers shall procure that the Auditors of the relevant Borrower and the auditors of the relevant Obligor provide the Facility Administrator with the following: (a) a description of the changes to be made to the relevant financial statements to reflect the changes made to the accounting principles and reporting periods that were used in the preparation of the Original Financial Statements of the Group or such Obligor; and (b) information in a form and content that meets the requirements of the Facility Administrator and is sufficient to enable Lenders to verify that the Borrowers have met the requirements of Clause 18 (Financial Covenants) and to adequately assess the Obligor’s financial condition based on current financial statements compared to this Obligor’s Original Financial Statements.

Requirements for Financial Statements. The Guarantor shall cause each set of financial statements provided in accordance with article 17.1 (Financial Statements) of the Facility Agreement, to be prepared using the same accounting principles and the same reporting periods as those used in preparing the latest provided financial statements of the Group (except for a possible change in the in-house development capitalisation accounting). If any Obligor notifies the Facility Manager of a change in the accounting principles or reporting periods, then the Guarantor shall ensure that its Auditors and auditors of the respective Obligor provide the Facility Manager with: (i) the description of the amendments that are required to be made to the corresponding financial statements in order to reflect the changes made in the accounting principles and reporting periods that were used in preparing the Initial Financial Statements of the Group and such Obligor; and (ii) the details, in form and substance meeting the Facility Manager’s requirements and sufficient for the Lenders to satisfy themselves that the Borrowers are in compliance with the requirements of article 18 (Covenants to Comply with Financial Ratios) of the Facility Agreement and adequately assess the Obligor’s financial standing pursuant to the current financial statements compared to the Initial Financial Statements of such Obligor.