Financial Statements And Records Of Royale Petroleum Sample Clauses

Financial Statements And Records Of Royale Petroleum. Royale Petroleum has made available to the Acquiring Corporation true, correct and complete copies of the balance sheets of Royale Petroleum as of December 31, 2002 and 2003 and the consolidated statements of income, shareholders' equity and cash flows for the fiscal years then ended (the "Royale Petroleum Financial Statements"). The Royale Petroleum Financial Statements have been prepared from, and are in accordance with, the books and records of Royale Petroleum and present fairly, in all material respects, the assets, liabilities and financial position of Royale Petroleum as of the dates thereof and the results of operations and changes in financial position thereof for the periods then ended, in conformity with generally accepted accounting principles, consistently applied, except as noted therein. Since March 31, 2004, there has been no change in accounting principles applicable to, or methods of accounting utilized by, Royale Petroleum, except as noted in the Royale Petroleum Financial Statements. The books and records of Royale Petroleum have been and are being maintained in accordance with acceptable business practice, reflect only valid transactions, are complete and correct in all material respects, and present fairly in all material respects the basis for the financial position and results of operations of Royale Petroleum set forth in Royale Petroleum Financial Statements.
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Financial Statements And Records Of Royale Petroleum. Royale Petroleum has made available to the Surviving Corporation true, correct and complete copies of the balance sheets of Royale Petroleum and the Royale Petroleum Subsidiaries as of December 31, 1999 and 2000 and the consolidated statements of income, shareholders' equity and cash flows for the fiscal years then ended (the "Royale Petroleum Financial Statements"). The Royale Petroleum Financial Statements have been prepared from, and are in accordance with, the books and records of Royale Petroleum and present fairly, in all material respects, the assets, liabilities and financial position of Royale Petroleum as of the dates thereof and the results of operations and changes in financial position thereof for the periods then ended, in conformity with generally accepted accounting principles, consistently applied, except as noted therein. Since December 31, 2000, there has been no change in accounting principles applicable to, or methods of accounting utilized by, Royale Petroleum, except as noted in the Royale Petroleum Financial Statements. The books and records of Royale Petroleum have been and are being maintained in accordance with acceptable business practice, reflect only valid transactions, are complete and correct in all material respects, and present fairly in all material respects the basis for the financial position and results of operations of Royale Petroleum set forth in Royale Petroleum Financial Statements. Absence Of Certain Changes. Since December 31, 2000, Royale Petroleum has not, except as may result from the transactions contemplated by this Agreement: suffered any change in the business, results of operations or the manner of conducting the business of Royale Petroleum taken as a whole, except such change (i) reflected on the Royale Petroleum Financial Statements; or (ii) that would not have an Royale Petroleum Material Adverse Effect; suffered any damage or destruction to or loss of the assets of Royale Petroleum not covered by insurance, which property or assets are material to the operations or business of Royale Petroleum taken as a whole; forgiven, compromised, canceled, released, waived or permitted to lapse any material rights or claims; entered into or terminated any material agreement, commitment or transaction, or agreed or made any changes in material leases or agreements, other than renewals or extensions thereof and leases, agreements, transactions and commitments entered into in the ordinary course of business; writte...
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Related to Financial Statements And Records Of Royale Petroleum

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