Common use of Quarterly Financial Reports Clause in Contracts

Quarterly Financial Reports. Manager shall cause to be prepared and delivered to Owner reasonably detailed unaudited quarterly operating reports (the “Quarterly Reports”) and shall deliver each Quarterly Report to Owner on or before the twenty fifth (25th) day of the month following the end of the fiscal quarter (or partial fiscal quarter) to which such Quarterly Report relates. With respect to the Quarterly Reports, Manager’s Designated Financial Officer shall certify that it has reviewed such Quarterly Reports and, to such Designated Financial Officer’s Knowledge, such Designated Financial Officer has no reason to believe that such Quarterly Reports do not fairly present, in all material respects, the financial condition, results of operations, cash flows and other financial and operating results, as applicable, of the Managed Facilities for the periods presented in the report (except for the fact that there are no footnotes to such Quarterly Reports and subject to year end adjustments in all respects). At a minimum, the Quarterly Reports shall include: (a) a narrative report on Owner’s actual performance to the Operating Plan and Capital Budget; (b) a computation of any installment of the Incentive Management Fees due following delivery of such Quarterly Report; (c) an itemization of expenses other than Management Fees incurred to Manager or any Affiliate of Manager during such quarter, including Centralized Services Charges and Reimbursable Expenses; (d) a schedule comparing the financial performance of the Managed Facilities to the financial covenants under Financing Documents to the extent that the applicable Financing relates the Managed Facilities only; (e) a report on the project status and actual to budget expenditures for Routine Capital Improvements and Building Capital Improvements projects underway; (f) for the last month of such calendar quarter, the information that would have been included in the Monthly Report for such month pursuant to Section 10.2; and (g) such other reports or information otherwise specified in this Agreement to be provided to Owner on a quarterly basis or as Owner may reasonably specify from time to time.

Quarterly Financial Reports. Manager shall cause In connection with each meeting of the Board and audit committee of the Board indicated on the Meeting Schedule, Photowatt will provide ATS with (i) drafts of Photowatt’s Audit Package relating to be prepared and Photowatt Quarterly Financial Statements as reasonably requested by ATS, (ii) Photowatt’s Audit Package relating to Photowatt Quarterly Financial Statements when such package is delivered to Owner reasonably detailed unaudited quarterly operating reports Photowatt’s audit committee, and (iii) the “Quarterly Reports”) and shall deliver each Quarterly Report to Owner on or before the twenty fifth (25th) day version of the month following the end of the fiscal quarter (or partial fiscal quarter) Photowatt Quarterly Financial Statements that are approved by Photowatt’s audit committee; provided, however, that Photowatt may continue to which revise such Photowatt Quarterly Report relates. With respect Financial Statements prior to the filing thereof in order to make corrections and non-substantive changes, which corrections and changes shall be delivered by Photowatt to ATS as soon as practicable, and in any event within eight hours thereafter; provided further, that ATS and Photowatt financial Representatives shall actively consult with each other regarding any changes (whether or not substantive) that Photowatt may consider making to Photowatt Quarterly ReportsFinancial Statements and related disclosure during the two calendar days immediately prior to any anticipated filing with the Securities Regulator, Manager’s Designated Financial Officer shall certify with particular focus on any changes that it has reviewed such Quarterly Reports and, to such Designated Financial Officer’s Knowledge, such Designated Financial Officer has no reason to believe that such Quarterly Reports do not fairly present, in all material respects, would have an effect upon the financial condition, results statements or related disclosure of operations, cash flows and other financial and operating results, as applicable, of ATS. In addition to the Managed Facilities for the periods presented in the report (except for the fact that there are no footnotes to such Quarterly Reports foregoing and subject to year end adjustments applicable Law, no Photowatt Quarterly Financial Statement or any other document that refers to or contains information not previously publicly disclosed in all respects). At a minimumrespect of ATS, including, but not limited to the ownership of Photowatt by ATS, the Quarterly Reports Separation Agreements, or the separation of Photowatt and ATS, shall include: (a) a narrative report on Owner’s actual performance be filed with the Securities Regulator under applicable securities Laws or otherwise made public by any Photowatt Group member without the prior written consent of ATS. Notwithstanding anything to the Operating Plan and Capital Budget; (b) a computation of any installment of contrary herein, Photowatt shall file Photowatt Quarterly Financial Statements with the Incentive Management Fees due following delivery of such Quarterly Report; (c) an itemization of expenses other than Management Fees incurred to Manager or any Affiliate of Manager during such quarter, including Centralized Services Charges and Reimbursable Expenses; (d) a schedule comparing the financial performance of the Managed Facilities to the financial covenants under Financing Documents to the extent that the applicable Financing relates the Managed Facilities only; (e) a report Securities Regulator on the project status and actual to budget expenditures for Routine Capital Improvements and Building Capital Improvements projects underway; (f) for same date that ATS files ATS Quarterly Financial Statements with the last month of such calendar quarter, the information that would have been included in the Monthly Report for such month pursuant to Section 10.2; and (g) such other reports or information otherwise specified in this Agreement to be provided to Owner on a quarterly basis or as Owner may reasonably specify from time to timeSecurities Regulator.

Quarterly Financial Reports. Manager shall cause to be prepared and delivered to Owner reasonably detailed unaudited quarterly operating reports (the “Quarterly Reports”) and shall use commercially reasonable efforts to deliver each Quarterly Report to Owner on or before the twenty fifth (25th) day of the month following the end of the fiscal quarter (or partial fiscal quarter) to which such Quarterly Report relates. With respect to the Quarterly Reports, Manager’s Designated Financial Officer shall certify that it has reviewed such Quarterly Reports and, to such Designated Financial Officer’s Knowledge, such Designated Financial Officer has no reason to believe that such Quarterly Reports do not fairly present, in all material respects, the financial condition, results of operations, cash flows and other financial and operating results, as applicable, of the Managed Facilities for the periods presented in the report (except for the fact that there are no footnotes to such Quarterly Reports and subject to year end adjustments in all respects). At a minimum, the Quarterly Reports shall include: (a) a narrative report on Owner’s actual performance to the Operating Plan and Capital Budget; (b) a computation of any installment of the Incentive Management Fees due following delivery of such Quarterly Report; (c) an itemization of expenses other than Management Fees incurred to Manager or any Affiliate of Manager during such quarter, including Centralized Services Charges and Reimbursable Expenses; (d) a schedule comparing the financial performance of the Managed Facilities to the financial covenants under Financing Documents to the extent that the applicable Financing relates the Managed Facilities only; (e) a report on the project status and actual to budget expenditures for Routine Capital Improvements and Building Capital Improvements projects underway; (f) for the last month of such calendar quarter, the information that would have been included in the Monthly Report for such month pursuant to Section 10.2; and (g) such other reports or information otherwise specified in this Agreement to be provided to Owner on a quarterly monthly basis or as Owner may reasonably specify from time to time.

Quarterly Financial Reports. Manager shall cause to be prepared and delivered to Owner reasonably detailed unaudited quarterly operating reports (the “Quarterly Reports”) and shall use commercially reasonable efforts to deliver each Quarterly Report to Owner on or before the twenty fifth (25th) day of the month 702580413 11172554 37 following the end of the fiscal quarter (or partial fiscal quarter) to which such Quarterly Report relates. With respect to the Quarterly Reports, Manager’s Designated Financial Officer shall certify that it has reviewed such Quarterly Reports and, to such Designated Financial Officer’s Knowledge, such Designated Financial Officer has no reason to believe that such Quarterly Reports do not fairly present, in all material respects, the financial condition, results of operations, cash flows and other financial and operating results, as applicable, of the Managed Facilities for the periods presented in the report (except for the fact that there are no footnotes to such Quarterly Reports and subject to year end adjustments in all respects). At a minimum, the Quarterly Reports shall include: (a) a narrative report on Owner’s actual performance to the Operating Plan and Capital Budget; (b) a computation of any installment of the Incentive Management Fees due following delivery of such Quarterly Report; (c) an itemization of expenses other than Management Fees incurred to Manager or any Affiliate of Manager during such quarter, including Centralized Services Charges and Reimbursable Expenses; (d) a schedule comparing the financial performance of the Managed Facilities to the financial covenants under Financing Documents to the extent that the applicable Financing relates the Managed Facilities only; (e) a report on the project status and actual to budget expenditures for Routine Capital Improvements and Building Capital Improvements projects underway; (f) for the last month of such calendar quarter, the information that would have been included in the Monthly Report for such month pursuant to Section 10.2; and (g) such other reports or information otherwise specified in this Agreement to be provided to Owner on a quarterly monthly basis or as Owner may reasonably specify from time to time.