Adequacy of Reserves. The reserves, the allowance for possible loan and lease losses and the carrying value for real estate owned which are shown on the ONB Financial Statements are, in the judgment of management of ONB, adequate in all material respects under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.
Adequacy of Reserves. The reserves, the allowance for loan and lease losses, and the carrying value for real estate owned which are shown on the Horizon Financial Statements are, in the judgment of management of Horizon, adequate, in all material respects, under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.
Adequacy of Reserves. 24 (vi) Certificate....................................... 24 (vii)
Adequacy of Reserves. As soon as practicable, and, in any case, within 60 days after the end of each fiscal year of OLRI, written confirmation of the adequacy of the reserves of OLRI from an independent actuarial firm of recognized standing selected by the Borrower and reasonably acceptable to the Bank.
Adequacy of Reserves. The Company has, or will have on the Closing Date adequate accruals for all Taxes for all periods ending on or prior to the Closing Date and for any period beginning before the Closing Date and ending after the Closing Date in respect of the portion of such period up to the Closing Date. Following the Closing, the Company shall have no liability for Taxes of any kind for such periods in excess of the provisions or reserves for such Taxes shown on the Financial Statements or, with respect to periods ending after August 31, 1998, incurred in the ordinary course of the Business.
Adequacy of Reserves. The Company's balance sheet for the year ended October 30, 1997, contains adequate accruals for all Taxes for all periods ending on or prior to such date.
Adequacy of Reserves. The reserves, the allowance for loan and lease losses, and the carrying value for real estate owned which are shown on the FNWD Financial Statements are, in the judgment of management of FNWD, adequate, in all material respects, under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding, and real estate owned as of the respective dates. AGREEMENT AND PLAN OF MERGER PAGE 38
Adequacy of Reserves. The Returns Reserve included in the Reserve Certification is adequate and reasonable in the circumstances, and the amount thereof has been determined in good faith in accordance with the Sellers’ past accounting practices and historical and projected performance. The amounts certified in the Reserve Certification will, as of the Closing Date, reflect the good faith estimate of the Sellers with respect to the Returns Amount.
Adequacy of Reserves. The aggregate amount of Life & Annuity Reserves as of the Closing Date shall not be less than 98% of the aggregate amount of Life & Annuity Reserves shown on the Company's unaudited balance sheet, as of June 30, 1995, prepared in accordance with GAAP (each calculated on a consistent basis), and the Seller's chief financial officer shall have delivered to the Purchaser a certificate confirming the foregoing.
Adequacy of Reserves. Shell has delivered to City a written statement, signed by authorized representative of Shell, of (a) its estimate of the total reserves of economically extractable coal in the Mining Area, and (b) the aggregate quantity of coal from the Mining Area which Shell is contractually committed to sell and deliver, and the duration of its respective commitments. City may, at its option, have an estimate made, by reputable independent experts selected by it and acceptable to Shell, of the total reserves of economically extractable coal in the Mining Area. City shall furnish Shell a copy of the estimate as reported in writing by those experts; and if, in City's reasonable judgment, such reserves as so estimated are not adequate to enable Shell to meet its aggregate commitments to sell and deliver coal from the Mining Area, City may terminate this Contract by giving Shell notice not later than sixty (60) days following receipt of Shell's reserve estimate. City's failure to so dispute Shell's estimate of total reserves within said sixty (60) days shall constitute a waiver of any right to terminate this Contract under this article 10.1.
