Company Accounting Sample Clauses
Company Accounting. Prior to the Closing, Polycom shall, at its sole expense (but with reasonable cooperation and assistance of Buyer), undertake commercially reasonable efforts to ensure that the Polycom Companies are able to account for revenue from contracts with customers in accordance with the Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), as amended.
Company Accounting. An accounting shall be made of all Company transactions (for each fiscal year or lesser period of time) and the Members shall cause to be prepared for the Company a balance sheet, a statement of cash receipts and disbursements, a statement of net profits and losses, a statement of Cash Available for Distribution by the Company and a statement of each Member's share of Company net profits and losses and Cash Available for Distribution. The Members shall cause the necessary federal, state and local income tax returns and reports required of the Company to be prepared and filed no later than required by law.
Company Accounting. (a) Books and Records. Books of account of the Company, including capital and income accounts for each Shareholder, shall be kept on a cash and calendar year basis in accordance with generally accepted accounting practices applied in a consistent manner and shall reflect all Company transactions and be appropriate and adequate for Company business. The books of account and other records of the Company shall be maintained at the principal office of the Company or at such other place as may be designated by the Board of Directors, and shall be open to inspection by each Board of Director and Shareholder or their duly authorized representatives at all reasonable times during business hours.
Company Accounting. The Company acknowledges that: the Settlement Amount represents a compromise of the Claimed Amounts; the Company will record the Settlement Amount in accordance with Generally Accepted Accounting Principles (GAAP); the Company may recognize a gain or loss on extinguishment of debt to the extent the Settlement Amount differs from the carrying value of the Notes and other obligations on its books; and the Company will make all appropriate disclosures in its periodic reports filed with the SEC.
Company Accounting