This excerpt taken from the SORC 8-K filed Aug 7, 2007.
2.6 Financial Statements.
(a) The Companys monthly, quarterly and annual financial statements shall be prepared under the direction and management of the Companys Chief Financial Officer, with oversight from the Companys Audit Committee, provided that, subject to the provisions of Section 2.5(e) above, such financial statements shall be prepared in accordance with Primedias requirements for financial reporting, including, without limitation, applicable regulations for purposes of consolidating the Companys financial statements and obligations under SOX. The Companys Chief Financial Officer shall be required to certify the accuracy of the Companys financial statements for each quarterly period beginning with the quarter ended December 31, 2005 and ending with the quarterly period ended December 31, 2008 or, if the Put/Call Extension Notice is given, December 31, 2009.
(b) The Company shall ensure that its annual consolidated financial statements for calendar years 2005, 2006, 2007, 2008 and, if the Put/Call Extension Notice is delivered, 2009 are audited by a reputable independent auditing firm, which firm shall issue a report containing its unqualified opinion that the financial statements have been prepared in accordance with GAAP,
consistently applied. The Company shall use its best efforts to cause such independent auditor to complete the audit and issue its opinion with respect to each such calendar year within 75 calendar days of the end of such calendar year and in no event later than 120 calendar days after the end of such calendar year. In addition to the foregoing, the Company shall participate in Primedias corporate audit as requested by Primedia; provided that if participating in the Primedia corporate audit results in additional costs to the Company, such costs shall be excluded from the calculation of EBITDA hereunder.