Audited Statement definition

Audited Statement has the meaning set forth in the definition of Applicable Net Income.

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Audited Statement means a document in written or electronic form that contains formal periodic examination and checking of accounts or financial records to verify correctness which have been audited by a chartered accountant under the Samoa Institute of Accountants Act 2006;

Audited Statement means as defined in Section 4.3(b).

Examples of Audited Statement in a sentence

• Since the Audited Statement Date, there has been no material adverse change in the business, operations, assets or financial condition of Borrower (and, if applicable, Borrower’s Subsidiaries), nor is Borrower aware of any state of facts that (with or without notice or lapse of time or both) would or could result in any such material adverse change.

• Since the Audited Statement Date, there has been no material adverse change in the business, operations, assets or financial condition of Borrower (and, if applicable, Borrower's Subsidiaries), nor is Borrower aware of any state of facts that (with or without notice or lapse of time or both) would or could result in any such material adverse change.

• Since the Audited Statement Date, there has been no material adverse change in the business, operations, assets or financial condition of any Borrower, nor is any Borrower aware of any state of facts that (with or without notice or lapse of time or both) would or could result in any such material adverse change.

• Such statements shall also contain a list of the Gross Receipts, by month, as shown on the books and records of the period covered by the Annual Audited Statement.

• There has been no material adverse change in the business, assets, operations, financial condition, operating results, earnings, customer and supplier relations or employee and sales representative relations of the Company since the date of the Latest Audited Statement.

• Generally, an Audited Statement will be required if payment is greater than $500,000 per annum.

• The Contractor’s Annual Audited Statement shall also include an examination and certification of such schedules by an independent certified public accountant and a statement from that accountant that, in its opinion, such receipts and fees have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) and under the terms and conditions of this Contract including, without limitation, the definition of Gross Receipts set forth in Section 5.02 herein.

• You must determine whether the Audited Statement is required based on the level of risk involved in the particular activity.

• Finally, with respect to any matter for which a reserve or liability was established on the Audited Statement of Net Working Capital, the Buyer shall not be entitled to indemnification for any Adverse Consequences under Section 8(b) to the extent of any such reserve or liability.

• The post-Closing adjustment to the Purchase Price, if any, plus interest on the amount of any such adjustment calculated at a per annum rate of five per cent (5%) from the Closing Date, shall be paid by the Seller to the Buyer or by the Buyer to the Seller, as the case may be, in immediately available funds within fifteen (15) days of delivery of the Audited Statement of Net Working Capital as finally determined.

More Definitions of Audited Statement

Audited Statement means the final audited cost statement in respect the Film as more particularly described in Clause 12.4 and prepared in accordance with the relevant laws of Hong Kong and local generally accepted accounting principles (including the Accounting Standards and Accounting Guidelines as the Hong Kong Institute of Certified Public Accountants may issue and update from time to time) and duly audited, dated, signed and as certified as accurate by an Auditor;

Audited Statement shall have the meaning ascribed to it in Section 3.4.

Audited Statement means the final audited cost statement for the Film as more particularly described in Clause 19.5 of the Standard Terms and as certified as accurate by the Auditor; “Auditor” means the Auditor set out in the Main Elements; “Bank Account(s)” means the Production Account(s) and the Collection Account and any other account established in connection with the Production and distribution of the Film; “Bank Mandate” means the Government-approved bank mandate in respect of the Production Account(s) and, if applicable, the Bank Account(s); “Cashflow Schedule” means the cashflow schedule for the Film attached as Schedule 3 of the PFA (as may be amended from time to time pursuant to Clause 6.3 of the Special Terms of the PFA); “Chain of Title” in relation to any work in which any Intellectual Property Rights or moral rights subsist, means a set of documents which shows and deduces how “title” to or ownership of and the rights and interest of the work have been transmitted to its current owner from its original author/creator and how the moral rights of the author/creator/director/performer of the work have been transmitted to or released or waived in favour of its current owner including all related Intellectual Property Rights assignments from Film Producer, Film Director, Scriptwriter, Leading Actor and Actress, Supporting Actor and Actress, Director of Photography, Art Director, Costume Designer, Composer, Image Designer (if any), Visual Effects Director (if any), etc. and Authorization Letter of Work on which the screenplay is based (if any); “CO” means the Copyright Ordinance (Cap. 528 of the Laws of Hong Kong); “Collection Account” means the trust account established by the Collection Agent (details of which are set out in Clause 2.3 of the Special Terms) into which Gross Receipts shall be paid; “Collection Account Management Agreement” means the agreement among ProdCo, Government, the Financiers (other than Government), the Collection Agent and other parties (if any) in respect of the collection and application of Gross Receipts; “Collection Agent” means the entity engaged as Collection Agent for the Film as set out in the Main Elements;