Common use of Quarterly and Annual Financial Statements Clause in Contracts

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide COST CUTTERS with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S Cost Cutters Business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to COST CUTTERS for the FRANCHISEE'S Cost Cutters Business will be presented in the exact form and format prescribed by COST CUTTERS in writing and will be categorized according to the chart of accounts prescribed by COST CUTTERS. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S quarterly financial statements will be delivered to COST CUTTERS by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide COST CUTTERS CITY LOOKS with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S Cost Cutters Business City Looks business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to COST CUTTERS CITY LOOKS for the FRANCHISEE'S Cost Cutters Business City Looks business will be presented in the exact form and format prescribed by COST CUTTERS CITY LOOKS in writing and will be categorized according to the chart of accounts prescribed by COST CUTTERS. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basisCITY LOOKS. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. The FRANCHISEE'S quarterly financial statements will be delivered to COST CUTTERS CITY LOOKS by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.

Quarterly and Annual Financial Statements. The FRANCHISEE will, at its expense, provide COST CUTTERS WCH with a quarterly balance sheet and income statement, and annual financial statements for the FRANCHISEE'S Cost Cutters We Care Hair Business which will consist of a balance sheet, income statement, statement of cash flows and explanatory footnotes. All financial statements provided to COST CUTTERS WCH for the FRANCHISEE'S Cost Cutters We Care Hair Business will be presented in the exact form and format prescribed by COST CUTTERS WCH in writing and will be categorized according to the chart of accounts prescribed by COST CUTTERSWCH. The FRANCHISEE'S financial statements will be prepared in accordance with generally accepted accounting principles applied on a consistent basis. If the FRANCHISEE'S annual financial statements are not certified by an independent certified public accountant, then the FRANCHISEE'S annual financial statements must be verified by the FRANCHISEE'S President or Chief Financial Officer, or if the FRANCHISEE is not a corporation, then by the FRANCHISEE'S Managing Partner, Chief Operating Officer or Chief Financial Officer. The FRANCHISEE'S quarterly financial statements will be delivered to COST CUTTERS WCH by the FRANCHISEE within thirty (30) days after the end of the quarter and the annual financial statements will be delivered within ninety (90) days of the FRANCHISEE'S fiscal year end.