Latin for "as a matter of form." The term refers to a presentation of financial statements as if a certain event had occurred. For example, pro forma financial statements delivered in connection with a bank loan closing will show the hypothetical financial condition of the borrower as if the loan had been made. The delivery of these pro forma statements is sometimes a condition precedent to the closing of the loan. For more information on financial statements and conditions precedent generally, see Practice Note, Conditions Precedent in a Loan Transaction and Standard Clauses, Loan Agreement: Conditions Precedent.