Examples of Most Recent Balance Sheets in a sentence
Without limiting the generality of the foregoing, all material revenues and expenses of the Company (A) are properly reflected in the Financial Statements, (B) have arisen in the Ordinary Course of Business, (C) are valid and subject to no counter-claims, and (D) will be or has been collected or paid at their recorded amounts subject only to the reserve for bad debts set forth on the face of the Most Recent Balance Sheets.
All accounts receivable reflected in the financial or accounting records of the TARGETS that have arisen since the Most Recent Balance Sheets are valid receivables subject to no setoffs or counterclaims and are collectible, net of a reserve for bad debts in an amount proportionate to the reserve shown on the Most Recent Balance Sheets.
The Board expects directors, as well as officers and employees, to act ethically at all times and to adhere to the requirements of U.S. Bancorp’s Code of Ethics and Business Conduct.
Without limiting the generality of the foregoing, all material revenues and expenses of the Company (A) are properly reflected in the Financial Statements, (B) have arisen in the Ordinary Course of Business unless otherwise stated therein, (C) are valid and subject to no offsets or claims, and (D) will be or have been collected or paid at their recorded amounts subject only to the reserve for bad debts set forth on the face of the Most Recent Balance Sheets.
The accruals for Taxes contained in the Most Recent Balance Sheets are adequate to cover the tax liabilities of the Target with respect to its business operations as of that date and include adequate provision for all deferred taxes, and nothing has occurred subsequent to that date to make any of such accruals inadequate.
To the Knowledge of Seller, except for the amount of any applicable reserves set forth in the Most Recent Balance Sheets, the accounts receivable of the Company and its Subsidiaries are not subject to any counterclaims or setoffs, and are not otherwise in dispute.
All inventory of each of the TARGETS, whether or not reflected on the Most Recent Balance Sheets, consists of a quality and quantity that are useable and saleable in the Ordinary Course of Business, except for obsolete items and items of below-standard quality, all of which have been written-off or written-down to net realizable value on the Most Recent Balance Sheets.
Attached to Schedule 3.5(a) are the following financial statements (collectively, the "Financial Statements"): (i) the unaudited, consolidated balance sheet of the Company as of December 31, 2017, and the related statement of income for the fiscal year then ended; and (ii) the unaudited, consolidated balance sheets of the Company as of January 31, 2018, February 28, 2018, March 31, 2018 and April 30, 2018 (the "Most Recent Balance Sheets"), and the related statement of income for such periods then ended.
The Company Group has no liabilities of any nature (whether known or unknown and whether absolute, accrued, contingent, or otherwise) which exceed in the aggregate, $300,000 except for (i) liabilities or obligations reflected or reserved against in the Most Recent Balance Sheets or (ii) current liabilities incurred in the ordinary course of business consistent with past practice since the respective dates thereof and which are reflected on the Closing Date Balance Sheet.
To Seller’s Knowledge, there is no contest or claim under any Contract with any obligor of any Account Receivable reflected on the Most Recent Balance Sheets regarding the amount or validity of such Account Receivable.