Common use of Operating Statement Clause in Contracts

Operating Statement. A current, detailed statement of income and expenses from and for managing, maintaining and operating the Property, in form and substance acceptable to Agent, certified as true, correct and complete by the chief financial officer of Borrower (or officer acting in a similar such capacity), and expressly showing all variations from the Operating Budget for the period covered thereby.

Operating Statement. A current, detailed statement of income and expenses from and for managing, maintaining and operating the each Property, in form and substance acceptable to Agent, certified as true, correct and complete by the chief financial officer of Borrower (Borrower’s advisor’s account controller or officer acting in a similar such capacity)any other authorized agent, and expressly showing all variations from the Operating Budget for the period covered thereby.