Common use of Tax Returns and Financial Statements Clause in Contracts

Tax Returns and Financial Statements. Seller has furnished Buyer with its tax returns (the "TAX RETURNS") for the periods ended December 31, 1996 and December 31, 1997, and has furnished Buyer with its financial statements (the "FINANCIAL STATEMENTS") for the periods ended December 31, 1996, December 31, 1997 and the interim period ending April 30, 1998 (the "FINANCIAL STATEMENT DATES"), copies of which are attached hereto as Schedule 12(o). The Financial Statements: (i) are in accordance with the books and records of the Seller; (ii) fairly present the financial condition of the Seller at such date and the results of its operations for the periods specified; (iii) were prepared in accordance with GAAP applied on a basis consistent with prior accounting periods; (iv) with respect to all Contracts of the Seller, reflect adequate reserves for all reasonably anticipated losses and costs in excess of anticipated income; and (v) with respect to any balance sheets, disclose all of the liabilities of the Seller at the Financial Statement Dates and include the appropriate reserves for all taxes and other accrued liabilities, except that certain contingent liabilities, if not disclosed on such balance sheets, shall be considered to be disclosed pursuant to this subparagraph, if expressly disclosed on an Schedule to this Agreement. The income statements included in the Financial Statements do not contain any items of special or nonrecurring income or expense or any other income not earned or expense not incurred in the ordinary course of business, consistent with past practice, except as expressly specified therein, and such Financial Statements include all adjustments, which consist only of normal recurring accruals, necessary for such fair presentation.

Tax Returns and Financial Statements. Seller has furnished Buyer with its tax returns (the "TAX RETURNS") for the periods ended December 31, 1996 1995 and December 31, 19971996, and has furnished Buyer with its financial statements (the "FINANCIAL STATEMENTS") for the periods ended December 31, 19961995, December 31, 1997 1996 and the interim period ending April 30January 31, 1998 (the "FINANCIAL STATEMENT DATES"), copies of which are attached hereto as Schedule 12(o13(o). The Financial Statements: (i) are in accordance with the books and records of the Seller; (ii) fairly present the financial condition of the Seller at such date and the results of its operations for the periods specified; (iii) were prepared in accordance with GAAP applied on a basis consistent with prior accounting periods; (iv) with respect to all Contracts of the Seller, reflect adequate reserves for all reasonably anticipated losses and costs in excess of anticipated income; and (v) with respect to any balance sheets, disclose all of the liabilities of the Seller at the Financial Statement Dates and include the appropriate reserves for all taxes and other accrued liabilities, except that certain contingent liabilities, if not disclosed on such balance sheets, shall be considered to be disclosed pursuant to this subparagraph, if expressly disclosed on an Schedule to this Agreement. The income statements included in the Financial Statements do not contain any items of special or nonrecurring income or expense or any other income not earned or expense not incurred in the ordinary course of business, consistent with past practice, except as expressly specified therein, and such Financial Statements include all adjustments, which consist only of normal recurring accruals, necessary for such fair presentation.

Tax Returns and Financial Statements. Seller has furnished Buyer with its tax returns (the "TAX RETURNS") for the periods period(s) ended December 31, 1996 and December 31September 30, 1997, and has furnished Buyer with its financial statements (the "FINANCIAL STATEMENTS") for the periods ended December 31September 30, 1996, December 31September 30, 1997 and the interim period ending April June 30, 1998 (the "FINANCIAL STATEMENT DATES"), copies of which are attached hereto as Schedule 12(o14(o). The Financial Statements: (i) are in accordance with the books and records of the Seller; (ii) fairly present the financial condition of the Seller at such date and the results of its operations for the periods specified; (iii) were prepared in accordance with GAAP applied on a basis consistent with prior accounting periods; (iv) with respect to all Contracts of the Seller, reflect adequate reserves for all reasonably anticipated losses and costs in excess of anticipated income; and (v) with respect to any balance sheets, disclose all of the liabilities of the Seller at the Financial Statement Dates and include the appropriate reserves for all taxes and other accrued liabilities, except that certain contingent liabilities, if not disclosed on such balance sheets, shall be considered to be disclosed pursuant to this subparagraph, if expressly disclosed on an Schedule to this Agreement. The income statements included in the Financial Statements do not contain any items of special or nonrecurring income or expense or any other income not earned or expense not incurred in the ordinary course of business, consistent with past practice, except as expressly specified therein, and such Financial Statements include all adjustments, which consist only of normal recurring accruals, necessary for such fair presentation.

Tax Returns and Financial Statements. Seller has furnished Buyer IHS with its tax returns (the "TAX RETURNS") for the periods ended December 31September 30, 1996 and December 31September 30, 1997, and has furnished Buyer IHS with its financial statements (the "FINANCIAL STATEMENTS") for the periods ended December 31September 30, 1996, December 31September 30, 1997 and the interim period ending April June 30, 1998 (the "FINANCIAL STATEMENT DATES"), copies of which are attached hereto as Schedule 12(o13(o). The Financial Statements: (i) are in accordance with the books and records of the Seller; (ii) fairly present the financial condition of the Seller at such date and the results of its operations for the periods specified; (iii) were the Financial Statement for the year ended September 30, 1996 was prepared on the cash basis of accounting and the Financial Statement for the year ended September 30, 1997 was prepared in accordance with GAAP applied on a basis consistent with prior accounting periodsGAAP; (iv) with respect to all Contracts of the Seller, reflect adequate reserves for all reasonably anticipated losses and costs in excess of anticipated income; and (v) with respect to any balance sheets, disclose all of the liabilities of the Seller at the Financial Statement Dates and include the appropriate reserves for all taxes and other accrued liabilities, except that certain contingent liabilities, if not disclosed on such balance sheets, shall be considered to be disclosed pursuant to this subparagraph, if expressly disclosed on an any Schedule to this Agreement. The income statements included in the Financial Statements do not contain any items of special or nonrecurring income or expense or any other income not earned or expense not incurred in the ordinary course of business, consistent with past practice, except as expressly specified therein, and such Financial Statements include all adjustments, which consist only of normal recurring accruals, necessary for such fair presentation.