Contingent liabilities and contingent assets Sample Clauses

Contingent liabilities and contingent assets. A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. It can also be a present obligation arising from past events that is not recognised because it is not probable that outflow of economic resources will be required or the amount of obligation cannot be measured reliably. A contingent liability is not recognised but is disclosed in the notes to the financial statements. When a change in the probability of an economic outflow occurs so that outflow is probable, they will then be recognised as a provision. A contingent asset is a possible asset that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain events not wholly within the control of the Company. Contingent assets are not recognised but are disclosed in the notes to the financial statements when an inflow of economic benefits is probable. When an economic inflow is virtually certain, an asset is recognised.
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Contingent liabilities and contingent assets. A contingent liability shall be a possible obligation that arise from past events and whose existence shall only be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Target Group Companies. It can also be a present obligation arising from past events that is not recognised because it is not probable that outflow of economic resources will be required or the amount of obligation cannot be measured reliably. Contingent liabilities other than those acquired from business combination shall not be recognised but shall be disclosed in the notes to the Completion Accounts . When a change in the probability of an outflow occurs so that outflow is probable, it will then be recognised as a provision. A contingent asset shall be a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain events not wholly within the control of the Target Group Companies. Contingent assets shall not be recognised but are disclosed in the notes to the Completion Accounts when an inflow of economic benefits is probable. When inflow is virtually certain, an asset is recognised. Part D : Form of the Completion Accounts As at Completion Accounts Date US$’000 ASSETS Non-current assets Property, plant and equipment [⚫] Investment properties [⚫] Land use rights [⚫] Intangible assets [⚫] Finance lease receivables [⚫] Other non-current assets [⚫] ─────── [⚫] - Current assets Inventories [⚫] Trade and other receivables [⚫] Cash and cash equivalents [⚫] ─────── [⚫] - Total assets [⚫] ═══════ EQUITY Capital and reserves attributable to the equity holder of the Company Share capital [⚫] Reserves [⚫] ─────── [⚫] Non-controlling interest [⚫] ─────── Total equity [⚫] - LIABILITIES Non-current liabilities Long term bank loans [⚫] Deferred income tax liabilities [⚫] Other long term liabilities [⚫] Loan from a non-controlling shareholder [⚫] ─────── [⚫] - Current liabilities Trade and other payables [⚫] Amount due to immediate holding company [⚫] Current income tax liabilities [⚫] Current portion of long term bank loans [⚫] Loan from immediate holding company [⚫] ─────── [⚫] - Total liabilities [⚫] - Total equity and liabilities [⚫] ═══════ SCHEDULE 5 CP AGREEMENTS Contract reference number The seller / the lessor / the shareholders The purchaser / the lessee / the contributing party Subject Date of agreement A1-1-1 China Shipping Container Line...
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Related to Contingent liabilities and contingent assets

  • Contingent Liabilities Assume, guarantee, become liable as a surety, endorse, contingently agree to purchase, or otherwise be or become liable, directly or indirectly (including, but not limited to, by means of a maintenance agreement, an asset or stock purchase agreement, or any other agreement designed to ensure any creditor against loss), for or on account of the obligation of any person or entity, except by the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of the Company’s business.

  • Litigation and Contingent Liabilities No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

  • No Contingent Liabilities There are no known contingent liabilities of the Funds not disclosed and there are no legal, administrative or other proceedings pending, or to the knowledge of the Acquired Fund threatened, against the Acquired Fund or to the knowledge of the Acquiring Fund threatened against the Acquiring Fund which would materially affect its financial condition.

  • Total Liabilities 5. Current Liabilities

  • Litigation and Contingent Obligations There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Borrower has no material contingent obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

  • Debt; Contingent Obligations No Borrower will, or will permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Debt. No Borrower will, or will permit any Subsidiary to, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations.

  • Total Liabilities to Tangible Net Worth Permit or suffer the --------------------------------------- ratio of Consolidated Total Liabilities of the Company and its Subsidiaries to Consolidated Tangible Net Worth of the Company and its Subsidiaries to be greater than 2.00 to 1.00 at any time.

  • Liabilities; Indebtedness Except as set forth on EXHIBIT L, the Seller has not incurred any indebtedness related to the Property except in each instance for trade payables and other customary and ordinary expenses in the ordinary course of business that will be paid and discharged in full as of the Closing.

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