Financial Reporting Covenants Sample Clauses
Financial Reporting Covenants are contractual obligations that require a party, typically a borrower, to provide regular financial statements and related information to another party, such as a lender or investor. These covenants specify the type of financial reports to be delivered, the frequency of reporting (e.g., quarterly or annually), and the standards or formats to be used, such as audited financial statements prepared in accordance with generally accepted accounting principles. By mandating timely and accurate financial disclosures, these covenants enable the recipient to monitor the financial health and compliance of the reporting party, thereby reducing information asymmetry and helping to identify potential financial issues early.
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Financial Reporting Covenants. Borrower covenants and agrees that so long as any Commitment is in effect and until payment in full of all Obligations, unless the Requisite Lenders shall otherwise give their prior written consent, Borrower shall perform and comply with, and shall cause each of the other Loan Parties to perform and comply with, all covenants in this Section 4 applicable to such Person.
Financial Reporting Covenants. (1) The Borrower will deliver to the Bank:
(a) Financial Statements for its fiscal year, within 90 days after fiscal year end, audited and certified without qualification by a certified public accountant acceptable to the Bank.
(b) Financial Statements for each of the first three fiscal quarters, within 60 days after the quarter end, together with year-to-date and comparative figures for the corresponding periods of the prior year, certified as true and correct by its chief financial officer.
(c) With each delivery of Financial Statements, a certificate of the Borrower’s chief financial officer as to the Borrower’s compliance with the financial covenants set forth below, if any, for the period then ended and whether any Event of Default exists, and, if so, the nature thereof and the corrective measures the Borrower proposes to take. This certificate shall set forth all detailed calculations necessary to demonstrate such compliance.
(2) With each delivery of Financial Statements pursuant to clause (b) above, the Borrower will deliver to the Bank updated financial projections for the current fiscal year in a form reasonably satisfactory to the Bank.
Financial Reporting Covenants. (1) The Borrower will deliver to the Lender:
(a) Financial Statements for its fiscal year, within one hundred twenty (120) days after fiscal year end, audited and certified without qualification by a certified public accountant acceptable to the Lender.
(b) Financial Statements for each fiscal quarter, within forty-five (45) days after the quarter end, together with year-to-date (and, commencing with the fiscal quarter ending March 31, 2003, with comparative figures for the corresponding periods of the prior year), certified as true and correct by its chief financial officer.
(c) Financial Statements for each month, within twenty (20) days after the month end, together with year-to-date (and, commencing with the month ending January 31, 2003, with comparative figures for the corresponding periods of the prior year), certified as true and correct by its chief financial officer.
(d) All Financial Statements delivered to the Lender shall be true, complete and accurate in all material respects and fairly present the financial condition, assets and liabilities, whether accrued, absolute, contingent or otherwise and the results of the Borrower's operations for the period specified therein. All Financial Statements delivered to the Lender shall be prepared in accordance with generally accepted accounting principles ("GAAP") consistently applied from period to period subject in the case of interim statements to normal year-end adjustments. With each delivery of Financial Statements, the Borrower's chief financial officer shall also deliver a certificate as to the Borrower's compliance with the financial covenants, if any, for the period then ended and whether any Event of Default exists, and, if so, the nature thereof and the corrective measures the Borrower proposes to take. This certificate shall set forth all detailed calculations necessary to demonstrate such compliance. The certificate delivered in connection with the quarterly and annual financial statements shall also demonstrate compliance with the total liabilities to Tangible Net Worth covenant set forth herein.
Financial Reporting Covenants. For so long as any Obligations remain outstanding, Borrower hereby covenants and agrees with Lender (and each of Lender’s Affiliates) to submit or cause to be submitted, as appropriate, to Lender (or, as the case may be, Lender’s specified designee or Affiliate) the following financial statements and/or other information:
Financial Reporting Covenants. 22 Insurance............................................................. 22
Financial Reporting Covenants. The Company agrees to comply with the financial reporting requirements of the Company required by the Subscription Agreements.
Financial Reporting Covenants. The Borrower will deliver to the Bank:
Financial Reporting Covenants. (a) The following capitalized terms used herein shall have the meanings ascribed to them below:
Financial Reporting Covenants. ▇▇▇ agrees to furnish or cause to be furnished each of the following to the Administrative Agent:
Financial Reporting Covenants. The Guarantor covenants that, until payment in full of the Obligations, it will furnish to the Lender: