Draft Balance Sheet definition
Examples of Draft Balance Sheet in a sentence
The Firm will consider only those items and amounts in the Draft Balance Sheet set forth in the Objection Notice which the Purchaser and the Seller are unable to resolve.
The Purchaser and its auditors will ------------------- make available to the Seller and its auditors all records and work papers used in preparing the Draft Balance Sheet.
Other than the expense of retaining an accounting firm to resolve a dispute as to the calculation of Net Assets as described above, the expense of preparing the Draft Balance Sheet and Draft Schedule of Net Assets shall be borne by Seller.
The Stockholders' Representative will make available to Acquiror and its accountants the work papers and back-up materials used in preparing the Draft Balance Sheet.
Seller will prepare the Draft Balance Sheet in accordance with GAAP, consistently applied, with the exceptions noted in SECTION 1.9(c).
If Purchaser and the Shareholders cannot agree upon the Draft Balance Sheet and the Calculation within 15 days after Purchaser receives the Shareholders' written notice of objection, if any, they shall retain a nationally recognized accounting firm (other than Ernst & Young, LLP) to resolve the remaining issues.
Within 90 days after the Closing Date, the Purchaser and its auditors will conduct a review (the "Closing Review") of the book value of the Acquired Assets as of the close of business on June 30, 1998 and will prepare and deliver to the Seller a computation of the amount of the book value of the Acquired Assets as of the close of business on June 30, 1998 (the "Draft Balance Sheet").
The Shareholder Representative shall have the right to review the Draft Balance Sheet, the determination of Closing Working Capital, Cash on Hand and Indebtedness, and all material back up or supporting data used in the preparation of the Draft Balance Sheet and determination of Closing Working Capital, Cash on Hand and Indebtedness.
If the Accountants determine that any disputed items on the Draft Balance Sheet were not prepared in accordance with such principles, policies and practices, then the Accountants will recalculate the Excess Income in accordance therewith, and so notify the parties.
The Working Capital Auditor will consider only those items and amounts in the Draft Balance Sheet set forth in the Objection Notice which the Purchaser and the Representative are unable to resolve.