Examples of December 2005 Balance Sheet in a sentence
The Estimated Closing Balance Sheet shall be prepared by Members, in accordance with GAAP and in a manner consistent with the December 2005 Balance Sheet except that the Estimated Closing Balance Sheet shall include a calculation of the “Adjusted Closing Net Working Capital” (hereinafter defined).
All accounts receivable of the Company and the Subsidiaries that have arisen since December 31, 2005 are valid receivables subject to no setoffs or counterclaims and are collectible (within 90 days after the date on which it first became due and payable), net of a reserve for bad debts in an amount proportionate to the reserve shown on the December 2005 Balance Sheet.
The unpaid Taxes of the Company and each Subsidiary for Tax periods through December 31, 2005 do not exceed the accruals and reserves for Taxes (excluding accruals and reserves for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the December 2005 Balance Sheet and all unpaid Taxes of the Company and each Subsidiary for all Tax periods commencing after December 31, 2005 arose in the Ordinary Course of Business.
All such prepayments, prebilled invoices and deposits are accrued for on the December 2005 Balance Sheet, and will be accrued for on the Closing Balance Sheet, in accordance with GAAP applied on a consistent basis with the past practice of the Company and the Subsidiaries.
A complete and accurate list of the accounts receivable reflected on the December 2005 Balance Sheet, showing the aging thereof, is included in Section 2.16 of the Disclosure Schedule.
All accounts receivable of the Company and the Subsidiaries reflected on the December 2005 Balance Sheet (other than those paid since such date) are valid receivables subject to no setoffs or counterclaims and are current and collectible (within 90 days after the date on which it first became due and payable), net of the applicable reserve for bad debts on the December 2005 Balance Sheet.