Examples of Independent Accounting Firm in a sentence
The determination of the Independent Accounting Firm shall be made as promptly as practical and shall be final and binding on the parties, absent manifest error which error may only be corrected by such Independent Accounting Firm.
Subsequently, both real estate transactions paid off in the normal course of business with all interest and principal received in full.In addition, the Independent Accounting Firm was engaged to review the cash inflows and outflows with respect to our sponsor’s Project Dependent Note (defined below) investment program.
Each Party will pay one-half of the fees and expenses of the Independent Accounting Firm in connection with such determination.
On April 13, 2016, the Independent Accounting Firm reported its results to our sponsor, including that (i) the fundings were traced and agreed to the applicable investment and bank statements (or other bank information) with no exceptions, and (ii) as of January 1, 2016, the average internal rate of return based on GAAP for the entirety of the Project Dependent Note program was 14.15% for both realized and unrealized investments (assuming payment of all principal on the unrealized investments).
The resulting fair value conclusions for the two real estate transactions were each greater than our sponsor's financial basis in the investments, and were deemed reasonable based on independent testing by the Independent Accounting Firm of the applicable approaches to value.