Following the close of each fiscal year, Borrowers annual report (Form FR Y-6) as provided to the Federal Reserve System, to include Borrowers annual financial statement, including an income and surplus statement for such fiscal year, a balance sheet as of the end of such fiscal year, and a statement of changes in financial position for such fiscal year and the preceding fiscal year. Borrowers financial statements shall be delivered to Lender within ninety (90) days following the close of such fiscal year.
FollowingAnnual Financial Statements for Borrower. Borrower shall furnish within 120 days after the closeend of each fiscal year, Borrowers annual report (Form FR Y-6) as provided to the Federal Reserve System, to include Borrowers annualyear a financial statement, including an income and surplus statement for such fiscal year, a balance sheetof Borrower as of the end of such fiscal year, in each case audited by independent public accountants acceptable to Lender. Each annual financial statement shall include a balance sheet, operating/income statement, contingent liabilities, statement of cash flows, comparison to budget and a statementreconciliation of changesretained earnings and net worth, and be in financial position for such fiscal year anda form suitable to the preceding fiscal year. Borrowers financial statements shall be delivered to Lender within ninety (90) days following the close of such fiscal year.Lender.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.