Requirements as to Sample Clauses
The 'Requirements as to' clause sets out specific standards, conditions, or criteria that must be met in relation to a particular subject within the contract. This clause typically details the quality, performance, or procedural benchmarks that goods, services, or actions must satisfy, such as compliance with industry regulations or adherence to agreed specifications. By clearly defining these requirements, the clause ensures that both parties understand their obligations and helps prevent disputes by providing measurable standards for performance.
Requirements as to financial statements Each set of financial statements delivered to the Buyers under paragraph (a) (Financial statements) above in relation to the Sellers and the Charter Guarantor (each a "Notifying Party"):
(i) shall be certified by an authorised signatory of the relevant Notifying Party as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(ii) shall be prepared in accordance with GAAP.
Requirements as to financial statements Each set of financial statements delivered by the Borrower under Clause 12.1.1:
(a) shall be certified by an authorised signatory of the Borrower as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared in accordance with GAAP.
Requirements as to financial statements Each set of financial statements delivered by the Borrowers and the Guarantor under Clause 12.1.1 (Financial statements):
(a) shall be certified by a director of the relevant Borrower as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using GAAP, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, the relevant Borrower notifies the Agent that there has been a change in GAAP, the accounting practices or reference periods and the relevant Borrower's auditors deliver to the Agent:
(i) a description of any change necessary for those financial statements to reflect the GAAP, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the Original Financial Statements.
Requirements as to financial statements (a) The Obligors shall procure that each set of financial statements includes a balance sheet, profit and loss account, cash flow statement and appropriate explanatory notes.
Requirements as to financial statements Each set of financial statements delivered by the Corporate Guarantor (as applicable) under Clause 13.1.1 shall be:–
(a) prepared using GAAP; and
(b) certified by a director of the Corporate Guarantor as fairly representing its financial condition as at the date at which those financial statements were drawn up.
Requirements as to financial statements Each set of financial statements delivered by the Borrowers or the Guarantor under Clause 12.1.1 (Financial statements):
(a) shall be certified by an officer or the chief accountant of the relevant Borrower or the Guarantor (as the context requires) as fairly representing its financial condition as at the date as at which those financial statements were drawn up; and
(b) shall be prepared using IFRS, accounting practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, the relevant Borrower or the Guarantor notifies the Agent that there has been a change in IFRS, the accounting practices or reference periods and the relevant Borrower’s or Guarantor’s auditors deliver to the Agent:
(i) a description of any change necessary for those financial statements to reflect the IFRS, accounting practices and reference periods upon which the Original Financial Statements were prepared; and
(ii) sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent to make an accurate comparison between the financial position indicated in those financial statements and that indicated in the Original Financial Statements.