Balance Sheet Liabilities definition

Balance Sheet Liabilities means the amount of (i) trade accounts payable of the Seller (including the liability for payment of outstanding checks up to $3,470,000) to the extent reflected on the Closing Balance Sheet; (ii) the accrued (earned but not paid) salaries, wages, holiday pay, sick pay and vacation pay for the fiscal year in which the Closing Date occurs, with respect to the Hired Employees in the amount and to the extent reflected on the Closing Balance Sheet (the "Assumed Employment Obligations"), but excluding (A) any performance bonuses payable to the Hired Employees or (B) any severance pay obligations of Seller to the Hired Employees, other than pursuant to the Xxxxxxx Employment Contract, resulting from Seller's consummation of the transactions contemplated by this Agreement, (iii) all obligations of Image in connection with the $30,000,000 Development Authority of the City of Summerville, Georgia Exempt Facility Revenue Bonds (Image Industries, Inc. Project), Series 1997 (the "Pollution Control Bonds"), and (iv) all current liabilities of the Seller other than the Excluded Liabilities, but only to the extent such liabilities are reflected on the Closing Balance Sheet. The liabilities described in subsections (i) and (iv) of this Section 3.1(c) shall be limited to the types of liabilities included in the line items substantially of the same name in the unaudited balance sheet of the Business as of the end of fiscal July, 1998, furnished to Purchaser (the "Interim Balance Sheet") and shall be determined in accordance with and based upon Seller's historical practices and methods, provided that if such practices and methods deviate from GAAP, Balance Sheet Liabilities shall be determined in accordance with GAAP. All amounts of the type described in clause (ii) of this Section 3.1(c) that are payable with respect to any period ending on or prior to the Closing Date or that are required by GAAP to be accrued on the financial statements of the Seller as of the Closing Date, shall be fully reflected and accrued on the Closing Balance Sheet. Balance Sheet Liabilities shall not include any Excluded Liabilities.

Balance Sheet Liabilities means all of the Liabilities reflected in the Final Statement, to the extent reflected thereon. “Book Value” means the book value of a given asset as determined in accordance with the Accounting Principles. “Business” has the meaning set forth in the Recitals.

Balance Sheet Liabilities. Liabilities reflected in the balance sheet of the Borrower;

Examples of Balance Sheet Liabilities in a sentence

• Balance Sheet Liabilities otherwise permitted under this Agreement (and all refinancing and recharacterizations thereof).

• The Estimated Purchase Price shall be determined from the books and records of the Seller; provided, however, that the Book Value of the Acquired Assets shall be determined in accordance with Section 3.1(b) hereof and the Balance Sheet Liabilities shall be determined in accordance with Section 3.1(c).

• LIABILITIES Section 9 - Other LiabilitiesThis item includes payables which are not attributable to any other items under Balance Sheet Liabilities: in particular, payables to suppliers and to the separate assets.These items are entered at their nominal value, which represents the value of discharge.INCOME STATEMENTRecognition of Costs and RevenuesCosts and revenues are accounted for on an accruals basis.

• These costs will not be assumed by Purchaser except to the extent they are included on the Closing ED Balance Sheet and expressly assumed as Assumed Balance Sheet Liabilities.

• Purchaser's payment or reimbursement of expenses covered by Seller's reserves or allowances which are Assumed Balance Sheet Liabilities shall not be construed as any indication whatsoever that Purchaser has assumed liability for Sellers' debts, liabilities or administrative responsibility, either for the specific class covered by such reserve or in general, beyond the amount of the recorded reserve except as such are themselves assumed specifically as Assumed Liabilities.

More Definitions of Balance Sheet Liabilities

Balance Sheet Liabilities means all liabilities that are required to be reflected in financial statements properly prepared in accordance with GAAP (excluding contingent liabilities other than those which meet the standards enunciated in Statement of Financial Accounting Standards No. 5, "Accounting For Contingencies").

Balance Sheet Liabilities means (without duplication) (i) trade accounts payable, plus (ii) accrued expenses, plus (iii) facilities-related debt (including equipment notes payables, other accounts payables and lease obligations), plus (iv) provision, if any, for ordinary course bonuses payable to the Transferred Employees, each as determined in a manner consistent with the preparation of the Financial Statements under JGAAP or SGAAP, as applicable.

Balance Sheet Liabilities means, as of any date of determination, the aggregate liabilities of the Business determined in accordance with the Accounting Policies.

Balance Sheet Liabilities means all liabilities of the Company required to be included on the Company’s balance sheet, determined in accordance with GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Audited Financial Statements for the most recent fiscal year end as if such accounts were being prepared and audited as of a fiscal year end, except that income Tax liabilities and deferred Tax liabilities shall be excluded.

Balance Sheet Liabilities means Liabilities of a type required to be reflected or reserved against on the balance sheet or notes thereto of the Company in accordance with GAAP.

Balance Sheet Liabilities means the consolidated Liabilities of Company.

Balance Sheet Liabilities means liabilities that would be required to be included on a balance sheet prepared in accordance with GAAP, but excluding Intellectual Property Maintenance Costs.