Common use of Books of Account and Reserves Clause in Contracts

Books of Account and Reserves. The Company will, and will cause each of its Subsidiaries to, keep books of record and account in which full, true and correct entries are made of all of its and their respective dealings, business and affairs, in accordance with generally accepted accounting principles. The Company will employ certified public accountants of nationally recognized standing selected by the Board of Directors of the Company (the "Board of Directors") who are "independent" within the meaning of the accounting regulations of the SEC, and have annual audits made by such independent public accountants in the course of which such accountants shall make such examinations, in accordance with generally accepted auditing standards, as will enable them to give such reports or opinions with respect to the consolidated financial statements of the Company and its Subsidiaries as will satisfy the requirements of the SEC in effect at such time with respect to certificates and opinions of accountants.

Appears in 3 contracts

Samples: Convertible Debt Agreement (Printware Inc), Note Purchase Agreement (St Paul Companies Inc /Mn/), Note Purchase Agreement (Select Comfort Corp)

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Books of Account and Reserves. The Company Corporation will, and will cause each of its Subsidiaries to, keep books of record and account in which full, true and correct entries are made of all of its and their respective dealings, business and affairs, in accordance with generally accepted accounting principles. The Company Corporation will employ certified public accountants of nationally recognized standing selected by the Board of Directors of the Company (the "Board of Directors") Corporation who are "independent" within the meaning of applicable the accounting regulations and who are one of the SECso-called "Big Five" accounting firms, and have annual audits made by such independent public accountants in the course of which such accountants shall make such examinations, in accordance with generally accepted auditing standards, as will enable them to give such reports or opinions with respect to the consolidated financial statements of the Company Corporation and its Subsidiaries as will satisfy the applicable requirements of the SEC in effect at such time with respect to certificates and opinions of accountants.

Appears in 1 contract

Samples: Series C Preferred Stock Purchase Agreement (Vyyo Inc)

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