Draft Statements definition
Examples of Draft Statements in a sentence
The Purchaser shall not propose adjustments to any line items in any of the Draft Statements to the extent that such adjustments involve a judgment as to the future earnings potential, prospects or feasibility of the EDS Business or other aspects of a forward-looking nature, provided that such judgment is consistent with past practice in determining the relevant line items in the relevant Draft Statements.
Within thirty (30) Business Days after the Purchaser has received the Draft Statements, the Purchaser will notify the Seller in writing whether, based on such review, it has any objections to the Draft Statements (the “Objections Statement”).
Company covenants with Purchaser to deliver, within thirty days of the Closing Date, copies of the final audited financial statements of Company for the fiscal years ended June 30, 2002 and June 30, 2003 which shall not differ materially from the Draft Statements.
On or before March 13, 1998, Seller shall deliver to the Buyer the final audited financial statements ("FINAL AUDITED FINANCIAL STATEMENTS") covering the period shown in the Draft Statements.
Sellers and Purchaser shall bear the fees and expenses of their respective accountants, auditors and other professional advisors in preparing, reviewing or settling, as the case may be, the Draft Statements.
Within 45 days following delivery of the Draft Statements, Agent (for and on behalf of Sellers) shall notify Purchaser in writing if they have any objections to the Draft Statements.
The Draft Statements disclose violations of the (i) Debt Service Coverage Ratio covenant; (ii) the Debt to Worth Ratio covenant, and (iii) the Net Worth covenant, in the amounts set forth in the Draft Statements for the periods set forth therein (the “Reported Defaults”).
Until the Compliance Date, the Applicable Margin and Applicable Commitment Fee Rate may be increased according to the terms of Schedule 1.1(A) of the Credit Agreement based on the deliveries of each of the Draft Statements and accompanying Compliance Certificates delivered hereunder.
The Company Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) applied in all material respects on a consistent basis throughout the periods indicated; provided, however, that the Consolidated Statements of Stockholders’ Investment, the Consolidated Statements of Cash Flows, and the Notes to Consolidated Financial Statements included in the Draft Statements have not been revised to reflect the Updated Statements.
Any pricing increase resulting from the delivery of the Draft Statements shall be effective on the due date for delivery of each such Draft Statement and accompanying Compliance Certificates under this Amendment.