FSI Financial Statements definition
Examples of FSI Financial Statements in a sentence
FSI has established in accordance with generally accepted accounting principles, a reserve for taxes in the FSI Financial Statements adequate to cover all of FSI's tax liabilities (including, without limitation, income taxes, payroll taxes and withholding, and franchise fees) for the periods then ending.
Each of the FSI Financial Statements (a) is complete and correct and presents fairly in all material respects the consolidated financial condition of FSI and TSA as of the dates thereof, (b) discloses all material liabilities of FSI and TSA, and (c) has been prepared on a modified income tax basis and is therefore a departure from statements prepared in accordance with generally accepted accounting principles.
The Subsequent FSI Financial Statements shall be prepared on a basis consistent with past accounting practices and generally accepted accounting principles applied on a consistent basis to the extent applicable and shall present fairly the financial condition and results of operations as of the dates and for the periods presented, subject to year end audit adjustments and the absence of footnotes for interim statements.
All Taxes that were properly accruable as of any applicable balance sheet or call report date (but that were not then due and payable) are reflected as liabilities in the FSI Financial Statements as of that date (other than any reserve for deferred Taxes established to reflect timing differences between book and Tax income).
All contributions required to be made under the terms of any FSI benefit plan have been timely made or have been reflected on the FSI Financial Statements.
The FSI Financial Statements are internal statements prepared by management.
As soon as reasonably available after the date of this Agreement, FSI shall deliver to First Financial the monthly unaudited balance sheets and profit and loss statements of FSI prepared for its internal use, and all other financial reports or statements submitted to regulatory authorities after the date hereof, to the extent permitted by law (collectively, "Subsequent FSI Financial Statements").
The Subsequent FSI Financial Statements, including the notes thereto, will not include any assets, liabilities or obligations or omit to state any assets, liabilities or obligations, absolute or contingent, or any other facts, which inclusion or omission would render such financial statements inaccurate, incomplete or misleading in any respect.