Monthly/Quarterly Reports. Borrowers' Designee (on behalf of Borrowers) shall furnish to Lender within 30 days after the end of each calendar month or calendar quarter (as indicated below) the following items: (i) monthly and year-to-date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP (or federal income tax basis of accounting, consistently applied) to fairly represent the financial position and results of operation of the Property during such calendar month, all in form satisfactory to Lender; (ii) a balance sheet for such calendar month; (iii) a comparison of the budgeted income and expenses and the actual income and expenses for each month and year-to-date for the Property, together with a detailed explanation of any variances of 10% or more between budgeted and actual amounts for such period and year-to-date; (iv) a statement of the actual Capital Expenses made by Borrowers during each calendar quarter as of the last day of such calendar quarter; (v) a statement that Borrowers have not incurred any indebtedness other than indebtedness permitted hereunder; (vi) an aged receivables report and (vii) rent rolls identifying the leased premises, names of all tenants, units leased, monthly rental and all other charges payable under each Lease, date to which paid, term of Lease, date of occupancy, date of expiration, material special provisions, concessions or inducements granted to tenants, and a year-by-year schedule showing by percentage the rentable area of the Improvements and the total base rent attributable to Leases expiring each year) and a delinquency report for the Property. Each such statement shall be accompanied by an Officer's Certificate certifying that to the best of such officer's knowledge, (1) that such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrowers and the Property in accordance with GAAP (or federal income tax basis of accounting, consistently applied) (subject to normal year-end adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.
Monthly/Quarterly Reports. Borrower shall furnish to Lender within twenty (20) days after the end of each calendar month or quarter, as applicable, the following items: (i) monthly (provided, however, that monthly reports shall only be required prior to “start- up day” (within the meaning of Section 860G(a)(9) of the Code) of the securitization that the Loan is placed) and year–to–date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP or any other accounting method, consistently applied to fairly represent the financial position and results of operation of the Property during such calendar month, all in form reasonably satisfactory to Lender; (ii) quarterly, a balance sheet for such calendar quarter; (iii) quarterly, a comparison of the budgeted income and expenses and the actual income and expenses for each quarter and year–to–date for the Property, together with a detailed explanation of any variances of ten percent (10%) or more between budgeted and actual amounts for such period and year to date; (iv) quarterly, a statement of the actual Capital Expenses made by Borrower during each calendar quarter as of the last day of such calendar quarter; (v) quarterly, a statement that Borrower has not incurred any indebtedness other than indebtedness permitted hereunder; and (vi) quarterly, an aged receivables report. Each such statement shall be accompanied by an Officer’s Certificate certifying (1) that such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrower and the Property in accordance with GAAP or any other accounting method, consistently applied (subject to normal year–end adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.
Monthly/Quarterly Reports. From and after the effectiveness of a registration statement filed by the Trust on Form 10-Q with the U.S. Securities and Exchange Commission (the “Commission”), the Trustee, on behalf of the Trust, shall furnish to the Certificateholders through the Investor Website and DTC, not less often than monthly, the Monthly / Quarterly Report prepared by the Manager.
Monthly/Quarterly Reports. During the period (i) commencing on the Effective Date and ending December 31, 1997, as soon as practicable, and in any event within thirty (30) days after the end of each calendar month (other than calendar months which are the last month of a fiscal quarter, in which case the aforesaid thirty (30) day period shall be extended to forty-five (45) days) and (ii) from and after December 31, 1997, as soon as practicable, and in any event within forty-five (45) days after the end of each fiscal quarter in each Fiscal Year, the consolidated and consolidating balance sheets of the U.S. Borrower and its Subsidiaries as at the end of the subject period and the related consolidated statements of income, stockholders' equity and cash flow, and consolidating statements of income and cash flow, of the U.S. Borrower and its Subsidiaries for such subject period, setting forth in each case in comparative form the corresponding figures as of the end of, and for, the corresponding period of the previous Fiscal Year and the corresponding figures from the consolidated financial forecast for the current Fiscal Year delivered on the Effective Date or pursuant to Section 8.01(e), as applicable, certified by the Chief Executive Officer or Chief Financial Officer of the U.S. Borrower as fairly presenting the consolidated and consolidating financial position of the U.S. Borrower and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in accordance with GAAP, subject to normal year end adjustments.
Monthly/Quarterly Reports. Borrower shall furnish to Lender within fifteen (15) days after the end of each calendar month or calendar quarter (as indicated below) the following items: (i) monthly and year-to-date operating statements, all in form satisfactory to Lender; (ii) a balance sheet for such calendar month and calendar quarter; (iii) a comparison of the budgeted income and expenses and the actual income and expenses for each month and year-to-date for the Property; (iv) a statement that Borrower has not incurred any indebtedness other than indebtedness permitted hereunder detailing all accounts payable and how long they have been outstanding; (v) an aged receivables report, and (vii) rent rolls identifying the leased premises, names of all tenants, units leased and monthly rental and all other charges payable under each Lease and a delinquency report for the Property. Each such statement shall be accompanied by an Officer's Certificate certifying (1) that such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrower and the Property and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.
Monthly/Quarterly Reports. Borrower shall furnish to Lender within 60 days after the end of each calendar month or calendar quarter (as indicated below) the following items: (i) monthly and year-to-date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP or other consistently applied method to fairly represent the financial position and results of operation of the Property by Borrower and Operating Tenant during such calendar month, all in form satisfactory to Lender; (ii) intentionally omitted; (iii) a comparison of the budgeted income and expenses and the actual income and expenses for each month and year-to-date for the Property, together with a detailed explanation of any aggregate variance of 10% or more between total budgeted and total actual expenses for such period and year-to-date; (iv) a statement of the actual Capital Expenses made by Borrower and Operating Tenant during each calendar quarter as of the last day of such calendar quarter; (v) a statement that neither Borrower nor Operating Tenant has incurred any indebtedness other than indebtedness permitted hereunder; and (vi) an aged receivables report. Each such statement shall be accompanied by an Officer’s Certificate certifying that to such officer’s knowledge (1) such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrower, Operating Tenant and the Property and have, to such party’s knowledge, been prepared in conformity with GAAP (subject to normal year-end adjustments and the lack of certain GAAP disclosures prior to year-end) and (2) whether there exists an Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.
Monthly/Quarterly Reports. As soon as available and in any event (i) within thirty (30) days after the end of each of the first two Fiscal Months in any Fiscal Quarter (the “Monthly Report”), and (ii) within (x) forty-five (45) days after the end of each of the first three Fiscal Quarters in any Fiscal Year and (y) ninety (90) days after the end of the last Fiscal Quarter in any Fiscal Year (the “Quarterly Report”), in each case beginning with Fiscal Quarter ending June 30, 2010, a company–prepared report in the form attached hereto as Exhibit G and Exhibit I, respectively, or such other form as agreed to by the Borrower and the Administrative Agent; all such financial statements described in the preceding paragraphs (a) and (b) to fairly present in all material respects the financial condition, results from operations and cash flows of the entities and for the periods specified and to be prepared in reasonable detail and in accordance with GAAP (subject, in the case of interim statements, to normal recurring year-end audit adjustments) applied consistently throughout the periods reflected therein. The Borrower’s quarterly filings on Form 10-Q and annual filings on Form 10-K will include a description of Investments held by the Borrower and its Subsidiaries and will identify such Investments as Collateral or non-Collateral and, if Collateral, will further identify such Investments by category (e.g., senior secured term Debt, subordinated Debt, etc.), all in the form attached hereto as Exhibit J or such other form as agreed to by the Borrower and the Administrative Agent. Further, the Borrower agrees to deliver to the Administrative Agent quarterly and annual descriptions of such Investments in the event the Borrower ceases to make Form 10-Q and Form 10-K filings, no later than the dates on which financial statements are required to be delivered pursuant to Sections 5.1(a) and (b).
Monthly/Quarterly Reports. Notwithstanding anything in Section 6.3.3 to the contrary, the quarterly reports required under this Section will not need to be delivered to Lender until forty-five (45) days after the end of each calendar quarter, rather than the twenty (20) days currently required under Section 6.3.3.
Monthly/Quarterly Reports. Manager shall cause to be prepared and delivered to Owner the monthly and quarterly operating reports listed on Exhibit G (the “Monthly Reports” and “Quarterly Reports”, respectively) based on information available to Manager. The Monthly Reports shall reflect operational results for the current month and year to date of the current Operating Year, and the Quarterly Reports shall reflect operational results for each quarter of the Operating Year, as well as the then-current Debt Service Coverage Ratios. Manager shall deliver to Owner each Monthly Report on or before the twentieth (20th) day of the month following the month to which such Monthly Report relates. Manager shall deliver to Owner each Quarterly Report on or before the twentieth (20th) day of the month immediately following the quarter to which such Quarterly Report relates. The reports shall be in a format (which may be amended from time to time) substantially similar to the operating reports provided or generated by Manager with respect to Other Omni Hotels and in such other format and including such additional information as may be required by the Indenture, the Continuing Disclosure Agreement and as may be reasonably required by Owner, any Mortgagee or any surety. Upon request made by the Hotel Consultant made not more than one (1) time each Operating Year, Manager shall have performed an evaluation of the Hotel in accordance with the standards set forth on Exhibit H, in all material respects. Copies of the results of the evaluation shall be provided to Owner and Trustee contemporaneously with the Hotel Consultant. Manager shall be permitted to adopt a different system of evaluation consistent with the program utilized at Other Omni Hotels, as long as the goal intended to be accomplished by the evaluation criteria set forth on Exhibit H is fairly achieved in all material respects. The cost of the evaluation or audit described in this Section 2.20.2 shall be included in Operating Expenses.
Monthly/Quarterly Reports. (a) Borrower shall, so long as the Ingram Micro Lease remains in full xxxxx and effect, shall furnish to Lender within thirty (30) days after the end of each calendar month or calendar quarter (as indicated below) the following items: (i) monthly and year-to-date operating statements, in form satisfactory to Lender; (ii) a statement that Borrower has not incurred any indebtedness other than indebtedness permitted hereunder and (iii) an aged receivables report. Each such statement shall be accompanied by an Officer's Certificate certifying (1) that such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrower and the Property in accordance with GAAP (subject to normal year-end adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.
