Example ContractsClausesFinancial Statement Adjustments or Restatements
Financial Statement Adjustments or Restatements
Financial Statement Adjustments or Restatements contract clause examples
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The Management Company as soon as practicable (but in any event within six (6) months) after the end of each Service Charge Period shall submit to the Tenant the Management Company’s financial statements relevant to the Estate Service Charge duly audited and certified by the Accountant. Such financial statements shall be prepared on an accruals basis and shall inter alia disclose:-

Statement Regarding Adjustments. Whenever the Exercise Price or the Warrant Shares into which this Warrant is exercisable shall be adjusted as provided in Section 12, the Company shall promptly prepare a statement showing in reasonable detail the facts requiring such adjustment and the Exercise Price that shall be in effect and the Warrant Shares into which this Warrant shall be exercisable after such adjustment, and cause a copy of such statement to be delivered to the Warrantholder as promptly as practicable after the event giving rise to the adjustment.

Financial Statement Restatement. A restatement of any financial statements filed by the Borrower with the SEC for any date or period from two years prior to the Issue Date of this Note and until this Note is no longer outstanding, if the result of such restatement could reasonably be expected to have, by comparison to the unrestated financial statements, a material adverse effect on the Borrower’s business or operations.

Financial Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC for any date or period from two years prior to the Issue Date of this Note and until this Note is no longer outstanding.

Financial Statement Restatement.The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

Financial Covenant Adjustments. With respect to any fiscal quarter in which the race schedule mandated by NASCAR results in fewer scheduled races during such fiscal quarter than were held in the same fiscal quarter for the prior year (the “Prior Period”), the Borrowers will be permitted to include in the calculation of Consolidated EBITDA for such fiscal quarter the actual Consolidated EBITDA from the Prior Period attributable to any scheduled race not included in such fiscal quarter solely as a result of scheduling, provided the race will occur in a subsequent fiscal quarter. In the event of the foregoing, the Borrowers shall be required to provide to the Administrative Agent in writing not less than ten (10) days prior to the end of such fiscal quarter # information (including reasonable estimates) demonstrating that the Borrowers would reasonably be expected to be in compliance with all financial covenants set forth in this Section 7.11 as of the next fiscal quarter ended Date but for the NASCAR schedule and # information (including reasonable estimates) demonstrating that the Borrowers are expected to be in compliance will all financial covenants set forth in this Section 7.11 as of the next fiscal quarter not impacted by the NASCAR schedule. For purposes of clarity, to the extent that the financial results attributed to any race are included in Consolidated EBITDA for any fiscal quarter in accordance with this Section 7.11(c), such financial results shall not also be included in Consolidated EBITDA for the Fiscal Quarter in which such race actually occurred.

Borrower Annual Financial Statement. Borrower shall furnish Lender a copy of its audited financial statement which will include at a minimum, balance sheet, income statement and statement of cash flow, prepared in accordance with generally accepted accounting principles, setting forth in comparative form the figures from the previous fiscal year of Borrower, and accompanied by a management’s discussion and analysis of such results.

Prepare financial statements for the BFA Recipient;

No financial statement required to be delivered pursuant to Section 5.01(a) or (b) shall be required to include acquisition accounting adjustments relating to the Transactions or any Permitted Acquisition or other Investment to the extent it is not practicable to include any such adjustments in such financial statement.

No financial statement required to be delivered pursuant to [Section 5.01(a) or (b)])] shall be required to include acquisition accounting adjustments relating to the Transactions or any Permitted Acquisition or other Investment to the extent it is not practicable to include any such adjustments in such financial statement.

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