Common use of Reports; Tax Returns Clause in Contracts

Reports; Tax Returns. (a) The Shareholders shall cause the Company to: (i) prepare, or cause to be prepared, in accordance with Applicable Law (and, if required, under other relevant Law) and the Accounting Policy, all income, zakat, and other tax returns of the Company and file the same in a timely manner (including extensions); (ii) make such other tax filings as the Shareholders shall agree are required for the Company to be in compliance with Applicable Law (and, if required, under other relevant Law) in relation to tax and accounting matters; (iii) provide the Shareholders with copies of the draft annual tax returns with respect to the corporate income tax of The Kingdom payable by or in respect of non-resident Shareholders (the “CIT”), translated into English, for review and comment at least thirty (30) days prior to the scheduled filing thereof; and (iv) within thirty (30) days after the filing thereof, provide the Shareholders with a copy of all annual zakat and tax returns filed by the Company and, promptly after receipt thereof, the relevant tax receipts with respect to Taxes paid by the Company. (b) The Shareholders shall cause the Company, at the Company’s sole cost and expense, to furnish the Shareholders with monthly reports concerning the Business and activities of the Company to the extent required to advise the Shareholders of the operational and financial performance of the Company.