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.
Annual Financial Statements for Borrower. Borrower shall furnish within 120 days after the end of each fiscal year a financial statement of 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 reconciliation of retained earnings and net worth, and be in a form suitable to the 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.