Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts, shall be determined by applying methods, practices, assumptions, policies, factors and underlying data consistent with those used in determining such accounts included in the Baseline Balance Sheet, and there shall be no changes made to any accounts, except to the extent that such changes are required by documented and substantiated changes in facts and events occurring after September 30, 2001 and on or before the Closing Date and are not solely the result of changes in management estimates. It is further understood that there shall be no increase in the Closing Date Net Working Capital as a result of reversals or reductions of liability and accrual accounts, unless such reversal or reduction was caused by facts or events that occur after September 30, 2001 and on or before the Closing Date; provided, however, that if such facts causing such reversal or reduction existed and applied to, and were known or should have been known as of September 30, 2001, the reversals or reductions also shall be made to the Baseline Balance Sheet for purposes of increasing the Target Net Working Capital.
Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts shall be determined by applying methods, practices, assumptions, policies, factors and underlying data consistent with those used in determining the liability and accrual account included in the Baseline Balance Sheet, and there shall be no changes made to any liability and accrual accounts, except to the extent that such changes are required by facts and events occurring after December 31, 1998 and on or before the Closing Date. It is further understood and agreed that there shall be no increase or decrease in the Closing Date Net Worth as a result of changes of liability and accrual accounts, unless such changes arise out of facts or events that occur after December 31, 1998 and on or before the Closing Date.
Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts shall be determined by applying methods, practices, assumptions, policies, factors and underlying data consistent with those used in determining the liability and accrual accounts included in the Company Balance Sheet, and there shall be no decreases in Closing Net Working Capital due to changes made to any liability and accrual accounts, and no new liability or accrual account, except to the extent that such decreases in Closing Net Working Capital are, or such new account is, required by material changes in facts and events occurring after the Company Balance Sheet Date and on or before the Closing Date.
Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts shall be determined by applying methods, practices, assumptions, policies, factors and underlying data consistent with those used in determining the liability and accrual accounts included in the Statement of Net Assets, and there shall be no changes made to any liability and accrual accounts, except to the extent that such changes are required by changes in facts and events occurring after September 30, 1999 and on or before the Closing Date. The Closing Statement of Net Assets shall reflect an accrual for warranty of $3,000,000. It is further understood that there shall be no increase in the Closing Date Net Assets as a result of reversals or reductions of liability and accrual accounts, unless such reversal or reduction arises out of facts or events that occur after September 30, 1999 and on or before the Closing Date; provided, however, that if such facts causing the reversal or reductions also did apply, were known or should have been known as of September 30, 1999, the reversals or reductions also shall be made to the Statement of Net Assets for purposes of increasing the Target Net Assets.
Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts, shall be determined by applying methods, practices, assumptions,
Adjustment of Liability and Accrual Accounts. The amount of all liability and accrual accounts shall be determined by applying methods, practices, assumptions, policies and procedures consistent with those used in determining the liability and accrual accounts included in the Baseline Balance Sheet, and there shall be no changes made to any liability and accrual accounts, except to the extent that such changes are required by changes in facts and events occurring after July 3, 1999 and on or before the Closing Date and except as disclosed on SCHEDULE 3.3. It is further understood that there shall be no increase in the Closing Date Net Book Value as a result of reversals or reductions of liability and accrual accounts, unless such reversal or reduction arises out of facts or events that occur after July 3, 1999 and on or before the Closing Date and except as disclosed on SCHEDULE 3.3. For avoidance of any doubt, nothing in this Agreement shall prevent the creation, reversal, reduction or usage of any liability or accrual account for the purpose for which it was intended in accordance with GAAP applied on a basis consistent with the accounting methods, treatments, policies and procedures used by Trex in preparing the Baseline Financial Statements (including the Baseline Balance Sheet).
