Fund Financial Statements. Seller has made available to Buyer prior to the date of this Agreement redacted copies of the financial statements for the most recently completed fiscal year, to the extent that they exist, of each of the top 50 Funds of the BGI Business based on Net Assets as of March 31, 2009 (excluding any Funds of Pension Management for purposes of determining top 50) (the “Fund Financial Statements”). Each of the Fund Financial Statements fairly presents in all material respects the results of operations and changes in Net Assets of each Fund as of the date thereof.
Fund Financial Statements. (i) Seller has made available to Buyer, or directed Buyer to, prior to the date of this Agreement copies of the financial statements for the most recently completed fiscal year, to the extent that they exist, of each of the top 50 Funds of the Xxx Xxxxxx Business based on Net Assets as of June 30, 2009 (the “Fund Financial Statements”). Each of the Fund Financial Statements for such top 50 Funds and all other Funds for such period fairly presents in all material respects the results of operations and changes in Net Assets of the respective Fund as of the date thereof
(ii) (A) The annual report to shareholders of each of the ’40 Act Funds with respect to such ’40 Act Fund’s most recently completed fiscal year and all other documents filed subsequent to such fiscal year end under Section 30(a) or 30(b) of the Investment Company Act, in each case in the form filed with the SEC or delivered to shareholders (each, a “’40 Act Fund Financial Report”), did not, as of their respective dates (without giving effect to any amendment thereto filed after the date hereof) contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they were or are made, not misleading, and (B) each of the financial statements contained in or incorporated by reference into the ’40 Act Fund Financial Reports (including the related notes and schedules thereto) fairly presents in all material respects the financial position of the entity or entities to which it relates as of its date, in accordance with generally accepted accounting principles consistently applied, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements, except in the cases of clauses (A) and (B) for instances of noncompliance that would not, individually or in the aggregate, have a Xxx Xxxxxx Material Adverse Effect.
Fund Financial Statements. The financial statements of each Selling Fund for the most recent semi-annual period concluded prior to the date hereof will be prepared in accordance with generally accepted accounting principles, and such statements (copies of which will be furnished to the Acquiring Fund) will fairly reflect the financial condition of such Selling Fund as of the end of such semi-annual period, and there will be no known contingent liabilities of the Selling Fund as of such date that are not disclosed in such statements.
Fund Financial Statements. Each Fund Financial Statement is consistent with the books and records of such Virtus Fund and, for the periods for which Virtus has been an administrator or an advisor to it, has been prepared in accordance with GAAP applied on a consistent basis throughout the periods presented in such Fund Financial Statement, subject, in the case of interim unaudited Fund Financial Statements, only to normal year-end audit adjustments on a basis comparable with past periods. Each statement of net assets or assets and liabilities and schedule of investments included in the Fund Financial Statements presents fairly in all material respects the financial position of the applicable Virtus Fund as at the dates thereof, and each statement of operations and changes in net assets included in the Fund Financial Statements presents fairly for the periods for which Virtus has been an administrator or an advisor to it the results of operations and cash flows of such Virtus Fund for the respective period or periods indicated.
Fund Financial Statements. Prior to the IPO Date, the Borrower will cause the Fund to submit to the Administrative Agent and each Lender promptly (but in any event within three (3) Business Days of the distribution by the Fund to its investors of the same), (A) after the end of each of its fiscal quarters (excluding the fiscal quarter ending on the date specified in clause (B)), commencing March 31, 2011, consolidated unaudited financial statements of the Fund for the most recent fiscal quarter, and (B) after the end of each fiscal year, commencing with the fiscal year ended December 31, 2010, consolidated audited financial statements of the Fund, audited by a firm of nationally recognized independent public accountants.
Fund Financial Statements. The financial statements of each Fund as of June 30, 2010, and for the semi-annual period then ended, will be prepared in accordance with generally accepted accounting principles, and such statements (copies of which will be furnished to the other Fund) will fairly reflect the financial condition of the Fund as of June 30, 2010, and there will be no known contingent liabilities of the Fund as of such date that are not disclosed in such statements.
Fund Financial Statements. The financial statements of the Acquired Fund for the most recent semi-annual period concluded prior to the date hereof will be prepared in accordance with generally accepted accounting principles, and such statements (copies of which have been made available to the Acquiring Fund) will fairly reflect the financial condition of such Acquired Fund as of the end of such semi-annual period, and there will be no known contingent liabilities of the Acquired Fund as of such date that are not disclosed in such statements.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities and objectives. The City uses fund accounting to ensure compliance with finance-related legal requirements. These funds are divided into two categories: governmental funds and proprietary funds. Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near- term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the City’s near- term financing requirements. Because the focus of the governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, the reader may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Proprietary funds. The City uses two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City’s various functions. The City uses internal service funds to account for its self-insurance (health) activities. Because these services predominately benefit governmental rather than business-type functions, they have been primarily included within the governmental activities in the government-wide financial statements.
Fund Financial Statements. 3.19 (iii)
Fund Financial Statements. The audited balance sheet of the Fund as of March 31, 1997 and the related financial statements for the year then ended, as reported on by McGladrey & Pullxx, XXP, and the unaudited balance sheet of the Fund as of September 30, 1997 (the "Recent Fund Statement Date") and the related unaudited financial statements for the period then ended, as prepared by McGladrey & Pullxx, XXP, and each balance sheet of the Fund, and the related financial statements, as of a date or period subsequent to the Recent Fund Statement Date, have been or will be prepared in accordance with GAAP applied on a consistent basis, and present fairly the financial position and results of operation of the Fund on the dates and for the periods stated therein (subject, in the case of unaudited interim statements, to normal year-end audit adjustments in accordance with GAAP) (collectively, the financial statements referred to above being referred to as the "Fund Financial Statements").
