Last Financial Statements definition
Examples of Last Financial Statements in a sentence
The 2004 Financial Statements and the Last Financial Statements are included in Schedule 4.7 to this Agreement.
An interim consolidated balance sheet as of June 30, 2005, and related consolidated statements of income and source and application of funds for the six (6) months then ended (collectively, the Last Financial Statements) have been delivered to the Purchaser.
The accounts receivable of Sihitech and e-Channels reflected on the Last Financial Statements and created after the Last Financial Statements Date, are bona fide accounts receivable, created in the ordinary course of business and subject to historical rates of uncollected liabilities, as reserved against on the financial statements of Sihitech and e-Channels, are good and collectible within periods of time normally prevailing in the industry at the aggregate recorded amounts thereof.
Except as set forth in Section 3.2(o) of the Disclosure Letter, the Corporation owns (with good and marketable title) all of the tangible properties and assets that are reflected as being owned by it in its financial Books and Records (including the balance sheets which form part of the Financial Statements), other than inventory sold in the Ordinary Course since the Last Financial Statements Date.
Except for licenses listed and accurately and completely described on the Last Financial Statements or Schedule 4.15(g) as royalty-bearing, there are (and will be upon Closing) no royalties, honoraria, fees, or other payments payable by e-Channels to any Person by reason of the ownership, use, license, sale, or disposition of any Intellectual Property used in connection with the e-Channels Business.
Since the Last Financial Statements Date, except as disclosed in Section 3.2(w)(iii) of the Disclosure Letter, the Corporation has not (i) filed any election with respect to Taxes or (ii) requested or received a legal ruling from a Tax authority.
The Last Financial Statements and Schedule 4.18 together contain an accurate and complete list and description of all employee benefits, including, without limitation, pension, medical insurance, work related injury insurance, birth and nursery insurance, unemployment insurance and educational benefits, which e-Channels is obligated to pay, including amounts and recipients of such payments.
The inventory of Sihitech and e-Channels consists of items of quality and quantity useable or saleable in the ordinary course of business at regular sales prices, subject to (a) changes in price levels as a result of economic and market conditions, and (b) reserves reflected in the Last Financial Statements for spoiled and discontinued items.
Except as disclosed in the Last Financial Statements or Schedule 4.18, all such contributions and payments required to be made by any employees of e-Channels with respect to the employee benefits have been fully deducted and paid to the relevant Governmental Authorities on or before their due dates, and no such deductions have been challenged or disallowed by any Governmental Authority or any employee of e-Channels.
The accounts receivable of e-Channels reflected on the Last Financial Statements and created after the Last Financial Statements Date, are bona fide accounts receivable, created in the ordinary course of business and subject to historical rates of uncollected liabilities, as reserved against on e-Channels’s financial statements, are good and collectible within periods of time normally prevailing in the industry at the aggregate recorded amounts thereof.