Provisions and accruals Sample Clauses

Provisions and accruals. General provisions regarding bad debts shall not be greater than GBP16,000. Provisions regarding Warranty reserve shall not be greater than GBP88,890. Provisions regarding vacant space shall not be greater GBP152,000. There shall be no provision made for dilapidations in relation to the Properties. Purchase accrual (A/C 4809) shall exclude any items which are more than 6 months old. There shall be no accrual regarding the Deferred Salary and Bonuses.
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Provisions and accruals. All provisions and accruals.
Provisions and accruals. Provisions and accruals for liabilities at the Completion Date shall be calculated in accordance with UK GAAP (FRS 12). - No further Provisions will be required for amounts indemnified or specifically warranted in this agreement. - Retirement indemnities payable to employees on retirement shall be accounted for using the same accounting principles, policies, bases, practices and methodologies adopted by each respective division for the purposes of the Accounts and applied on a consistent basis. Pensions - Pension assets and liabilities and costs shall be included in the Completion Accounts on the same basis, using the same methods and actuarial assumptions as used in arriving at the pension assets and liabilities and costs in the Accounts and applied on a consistent basis. Recognition of income - Income shall be recognised for the purpose of the Completion Accounts using the same principles, policies, bases and methodologies adopted by each respective division for the purposes of the Accounts. Post balance sheet events - Adjusting post balance sheet events as defined in SSAP 17 shall be taken into account up until the date that the draft Completion Accounts are provided to the Vendor by the Purchaser Holiday pay - Provisions for holiday pay shall be included according to the accounting principles, policies, bases, practices and methodologies used to assess provisions for holiday pay in the Accounts. Tax and deferred tax - Tax in the Completion Accounts shall be calculated as if the Completion Accounts Date were an Accounting Reference Period. - Deferred Tax provision shall be included according to the accounting principles, policies, bases, practices and methodologies used to assess deferred tax provisions in each company in the Accounts and in particular the deferred tax provision shall not be based on a full liability basis of deferred tax accounting. - A general provision of (Euro) 5.0m in respect of Tax liabilities shall be included in the Completion Accounts. Foreign currencies - Foreign currency monetary assets and liabilities shall be translated into Euros at rates of exchange ruling at the Completion Accounts Date. Foreign currency non-monetary assets and liabilities shall be translated into Euros in the Completion Accounts at the rates applicable at Completion except for the rate applying to the Capital Employed of Draftex Inc. which shall be translated into Euros at US$0.925 to 1 Euro. For the avoidance of doubt the equivalent exchange rate at th...

Related to Provisions and accruals

  • Continuing Provisions of the Agreement Except as otherwise specifically set forth in this Amendment, all other terms of the Agreement shall remain unchanged and continue in full force and effect.

  • Collection of Payments; Extensions and Amendments The Servicer will use reasonable efforts to collect all payments due under the Receivables. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Receivable. The Servicer may grant extensions, refunds, rebates or adjustments on any Receivable or amend any Receivable according to the Servicing Procedures. However, if the Servicer (i) grants an extension on a Receivable resulting in the final payment date of the Receivable being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer, (ii) modifies the Amount Financed under a Receivable, (iii) modifies the APR of a Receivable or (iv) increases the number of originally scheduled due dates of the Receivable, it will purchase the Receivable under Section 3.3, unless it is required to take the action by law or court order.

  • Benefit of Agreement Assignments and Participations (a) This Agreement shall be binding upon and inure to the benefit of the Borrower, the Lenders and the Agent and their respective successors and permitted assigns, and all subsequent holders of any of the Notes or any portion thereof.

  • Assignments, Designations and Participations (a) Each Lender may (i) with the prior consent of the Agent (which consent shall not be unreasonably withheld or delayed, and which consent shall not be required in the event of an assignment or grant pursuant to Sections 8.07(g) or (h) or an assignment to any other Lender, an Affiliate of a Lender, or an Approved Fund) and (ii) for so long as no Default has occurred and is continuing, with the consent of the Borrower (which consent shall not be unreasonably withheld or delayed and provided, in any event, that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to Agent within ten (10) days after having received notice thereof, and which consent shall not be required in the event of an assignment or grant pursuant to Sections 8.07(g) or (h) or an assignment to any other Lender, an Affiliate of a Lender, or an Approved Fund), assign to one or more Persons all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitment, the Revolving Credit Advances owed to it and any Note or Notes held by it); provided, however, that (A) each such assignment shall be of a constant, and not a varying, percentage of all rights and obligations under this Agreement, (B) except in the case of an assignment to a Person that, immediately prior to such assignment, was a Lender or an assignment of all of a Lender’s rights and obligations under this Agreement, the amount of the Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Assumption with respect to such assignment) shall in no event be less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, (C) each such assignment shall be to an Eligible Assignee, and (D) the parties to each such assignment shall execute and deliver to the Agent, for its acceptance and recording in the Register, an Assignment and Assumption, together with any Note subject to such assignment and a processing and recordation fee of $3,500, which fee may be waived by the Agent in its sole discretion if such assignment is to an Affiliate of the assigning Lender. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Assumption, (1) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Assumption, have the rights and obligations of a Lender hereunder and (2) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Assumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

  • Special Provisions Governing LIBOR Loans Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to LIBOR Loans as to the matters covered:

  • Provisions Supplemental The provisions of this §6 shall be supplemental to and not in derogation of any rights and remedies of the Lenders and the Administrative Agent under any separate subordination agreement which the Administrative Agent may at any time and from time to time enter into with the Guarantor for the benefit of the Lenders and the Administrative Agent.

  • Other Provisions applicable to Adjustments under this Section The following provisions shall be applicable to the making of adjustments of the number of shares of Common Stock for which this Warrant is exercisable and the Warrant Price then in effect provided for in this Section 4:

  • Provisions of the Plan This option is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this option.

  • Provisions Define Relative Rights This Agreement is intended solely for the purpose of defining the relative rights of the Issuer on the one hand and the Subordinated Lenders and the Subordinated Borrowers on the other, and no other Person shall have any right, benefit or other interest under this Agreement.

  • Benefits of the Agreement The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

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