Common use of Financial Statements and Condition Clause in Contracts

Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December 31, 2005 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Company; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Stock Purchase Agreement (International Rectifier Corp /De/)

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Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have Seller has made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December 31July 3, 2005 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Company; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Stock Purchase Agreement (International Rectifier Corp /De/)

Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have Seller has made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December March 31, 2005 2006 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Company; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Stock Purchase Agreement (International Rectifier Corp /De/)

Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have Seller has made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December 31June 30, 2005 2006 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Company; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Stock Purchase Agreement (International Rectifier Corp /De/)

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Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have Seller has made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December 31June 30, 2005 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Companyassociation; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Stock Purchase Agreement (International Rectifier Corp /De/)

Financial Statements and Condition. (a) Prior to the execution of this Agreement, Sellers have Seller has made available to Purchaser true and complete copies of the statutory accounts of the Company for the fiscal year ended December 31June 30, 2005 (the “Statutory Financial Statements”). Except as set forth in the notes thereto and as disclosed in Schedule 2.4(a), the Statutory Financial Statements were prepared from, are in accordance with and accurately reflect, the books and records of the Company, and have been prepared in accordance with applicable Law and fairly present in all material respects the consolidated financial condition and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject to normal recurring year-end adjustments and the absence of footnotes. (b) Except for the execution and delivery of this Agreement and the transactions to take place pursuant hereto on or prior to the Closing Date and as disclosed in Schedule 2.4(b), since June 30, 2006, there has not occurred: (i) any amendments or changes in the Company’s articles of incorporation and by-laws or other comparable corporate charter documents of the Company; (ii) any change by the Company in its accounting methods, principles or practices (other than changes required by applicable Law after the date of this Agreement); (iii) any sale of Assets and Properties of the Company other than (1) in the ordinary course of business or (2) dispositions of obsolete or worthless assets and sales of immaterial assets in excess of $250,000 in the aggregate; or (iv) any payment or declaration of any dividend or distribution by the Company (other than cash distributed on or prior to the Closing Date to the extent permitted under applicable Law).

Appears in 1 contract

Samples: Share Purchase Agreement (International Rectifier Corp /De/)

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