DESCRIPTION AND VALUATION Clause Samples

DESCRIPTION AND VALUATION. OF THE CONTRIBUTED ASSETS, ASSUMPTION OF THE LIABILITIES, DETERMINATION OF NET ASSETS 1. SGCI The assets and liabilities comprised in the contributions of SGCI mentioned hereafter are those described in the balance sheet of SGCI as at December 31, 2004. They were valued at their net book value as specified in paragraph 4.2 (i) above. 1.1 Description and valuation of the contributed assets 1.2 Liabilities of SGCI assumed by AXA