Deferred Revenues. The Base Purchase Price shall be reduced for increases in, or increased for decreases in, the net book value of those deferred revenue items and other current assets, other than Excluded Assets (including without limitation advance ticket sales and gift certificates) which require performance by Buyer after the Closing and which are identified on SCHEDULE 2.1-3, provided that the deferred revenue event occurs subsequent to the Closing Date. 2.2
Deferred Revenues r. Pre-billxxxx.
Deferred Revenues. Those Liabilities associated with the deferred revenues as set forth on Schedule 2.3(b);
Deferred Revenues. For purposes of the above Quick Asset Ratio, deferred revenues shall not be counted as current liabilities. For purposes of the above debt to tangible net worth ratio, deferred revenues shall not be counted in determining total liabilities but shall be counted in determining tangible net worth for purposes of such ratio. For all other purposes deferred revenues shall be counted as liabilities in accordance with generally accepted accounting principles. OTHER COVENANTS (Section 4.1): Borrower shall at all times comply with all of the following additional covenants:
Deferred Revenues. The Company received prepayments from customers related to services and products which had not been delivered as of October 1, 1995. Revenues will be recorded upon delivery of these services and products. Report of Independent Accountants -------------------------------------------------------------------------------- [LETTERHEAD OF PRICE WATERHOUSE LLP] To the Board of Directors and Shareholders of Irvine Sensors Corporation In our opinion, the accompanying consolidated balance sheet and the related consolidated statements of operations, of shareholders' equity and of cash flows present fairly, in all material respects, the financial position of Irvine Sensors Corporation and its subsidiary at October 1, 1995, and October 2, 1994, and the results of their operations and their cash flows for each of the three years in the period ended October 1, 1995, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Company's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. As discussed in Note 6 to the Consolidated Financial Statements, the Securities and Exchange Commission Staff (the "Staff") has recently indicated that convertible debt instruments which are convertible at a discount from market should be accounted for by treating the maximum discount as additional interest expense and paid-in capital. The Consolidated Financial Statements for the year ended October 1, 1995 have been restated to conform to the Staff's views. /s/ PRICE WATERHOUSE LLP Costa Mesa, California December 5, 1995 except for the last paragraph of Note 6 which is as of December 16, 1997 Irvine Sensors Corporation Corporate Information -------------------------------------------------------------------------------- Directors Xxxxx Xxxxxxx/1,2/, Chairman of the Board, Irvi...
Deferred Revenues. Seller’s deferred revenues arising out of its prepaid contracts in the ordinary course (other than those arising in connection with the Oxygen Business) as reflected on the Interim Balance Sheet and as reported in accordance with GAAP.
Deferred Revenues. The Sellers shall pay to the Buyer the full amount of any invoices from the Buyer for products provided or services performed by the Buyer under any Customer Contract for which either of the Sellers previously received cash in the form of deferred revenue, customer deposit or other prepayment (each a "DEFERRED AMOUNT"). Any invoice relating to a Deferred Amount shall reflect the Buyer's fully loaded costs of providing the product or service for which either of the Sellers was prepaid, provided, that if such Deferred Amount is not included in the Receivables set forth on the Closing Balance Sheet, then such invoice shall be increased by 10%. The Sellers shall pay the Buyer within 30 days of its receipt of the invoice. The Sellers shall also reimburse the Buyer for any refunds the Buyer is required to pay under any such Customer Contract to the extent of such applicable deferred revenue, customer deposit or prepayment.
Deferred Revenues. The Deferred Revenues as of the Closing Date will not exceed $216,000 with respect to the services to be performed by Praxis after the Closing Date. Full details regarding the Deferred Revenues (e.g., name of customer, amounts billed and prepaid, etc.) shall be delivered in writing by VMDC to Praxis on or before the Closing Date.
Deferred Revenues. 3.05(a) ................ 8
