Management Prepared Financial Statements definition

Management Prepared Financial Statements means, collectively,

Management Prepared Financial Statements means, collectively, (i) for each Seller the unaudited balance sheet as of June 30, 1997, and the related income statement for the six months then ended, (ii) collectively, for the Sellers taken as a whole, the unaudited combined balance sheet as of June 30, 1997, and the related income statement for the six months then ended, (iii) for the Sellers monthly combined and combining unaudited balance sheets and the related income statements as of and for the month ending July 31, 1997 and each month thereafter through the month ending thirty days prior to the Closing Date, prepared by management of the Sellers, and (iv) for the Sellers combined and combining unaudited balance sheets and the related income statements for the period commencing January 1, 1997 through the month ending 30 days prior to the Closing Date and the corresponding period in the prior year. (ppp) "Minimum Amount" shall have the meaning set forth in Section 3.2(c). (qqq) "Multiemployer Plan" shall have the meaning set forth in ERISA Section 3(37). (rrr) "Net Revenue" shall have the meaning set forth in Section 3.3(a). (sss) "Network Physicians" means primary care or specialist physicians serving as independent contractors of any Seller or any Person contracting with a Seller for the provision of health care or medical 5

Management Prepared Financial Statements means, collectively, (i) for each Seller the unaudited balance sheet as of June 30, 1997, and the related income statement for the six months then ended, (ii) collectively, for the Sellers taken as a whole, the unaudited combined balance sheet as of June 30, 1997, and the related income statement for the six months then ended, (iii) for the Sellers monthly combined and combining unaudited balance sheets and the related income statements as of and for the month ending July 31, 1997 and each month thereafter through the month ending thirty days prior to the Closing Date, prepared by management of the Sellers, and (iv) for the Sellers combined and combining unaudited balance sheets and the related income statements for the period commencing January 1, 1997 through the month ending 30 days prior to the Closing Date and the corresponding period in the prior year.

Examples of Management Prepared Financial Statements in a sentence

• On the Closing Date, the Sellers shall have Cash and Cash Equivalents and Accounts Receivable in an amount sufficient to satisfy the aggregate current liabilities of the Sellers as set forth in the most recent Management Prepared Financial Statements.

• On the Closing Date, the most recent Management Prepared Financial Statements available prior to the Closing reflect provision for accrued liabilities, including vacation and sick, medical claims and extended reporting endorsement for each of the Sellers (including all IBNR amounts), in an amount which the Sellers and Executive Shareholders reasonably believe will be adequate to meet such accrued liabilities.

• The Audited Financial Statements and the Management Prepared Financial Statements reflect all professional liability claims and reserves, including all IBNR amounts, as at the respective dates of the Audited Financial Statements and the Management Prepared Financial Statements.

• None of the Sellers has any indebtedness or liability, absolute or contingent, known or unknown relating to its Business, which is not shown or provided for on the most recent Management Prepared Financial Statements, other than liabilities as shall have been incurred or accrued in the ordinary course of business since the date of such Management Prepared Financial Statements, and which are consistent in amount and type with those incurred during the year ended December 31, 1996.