Common use of Semiannual Financial Statements Clause in Contracts

Semiannual Financial Statements. The Fund shall furnish to Financial Security as soon as available, and in any event within 60 days after the first six months of each fiscal year of the Fund, an unaudited balance sheet of the Fund as of the end of such six months, an unaudited statement of operations of the Fund for such six-month period and an unaudited statement of changes in net assets of the Fund for such six-month period, all in reasonable detail and stating in comparative form the respective figures for the corresponding date and period in the previous fiscal year, accompanied by the certificate described in paragraph (d) below and a certificate of the chief financial officer of the Fund to the effect that such financial statements have been prepared in accordance with generally accepted accounting principles consistently applied (except as noted therein) and that such financial statements fairly present the results of operations and financial condition of the Fund for the dates and periods indicated.