Common use of Annual and Quarterly Financial Statements Clause in Contracts

Annual and Quarterly Financial Statements. The Company shall maintain a standard system of accounting in accordance with generally accepted accounting principles applied on a consistent basis and shall make and keep books, records and accounts which, in reasonable detail, accurately and fairly reflect its transactions. Until such time as the Company is required to file reports under Sections 13 and 14 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), the Company shall deliver to Purchasers:

Annual and Quarterly Financial Statements. The Company shall maintain a standard system of accounting in accordance with generally accepted accounting principles applied on a consistent basis and shall make and keep books, records and accounts which, in reasonable detail, accurately and fairly reflect its transactions. Until such time as the Company is required to file reports under Sections 13 and 14 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), the Company shall deliver to Purchasers: