Examples of November 30 Balance Sheet in a sentence
The allowance for doubtful accounts on the November 30 Balance Sheet has been determined in accordance with GAAP applied on a consistent basis.
To the knowledge of Seller and Shareholder, all of the receivables listed thereon or set forth or reflected in the November 30 Balance Sheet, were, as of the dates as of which the information is given therein, and as of the Closing Date will be valid accounts receivable which are or will be current and collectible.
Except as set forth on Schedule 4.5, the unaudited condensed internal statement of income for the 11-month period ended November 30, 1997 (the "November 30 Income Statement") and the November 30 Balance Sheet, both of which are set forth on Schedule 4.5 attached hereto, fairly present in all material respects the financial position and results of operations of the Business as of the dates thereof.
The value of damaged or obsolete inventory and of inventory below standard quality has been written down on the November 30 Balance Sheet to ascertainable market value to the extent required by GAAP.
Seller and Shareholder hereby covenant and ---------------- agree that Seller will promptly pay (or properly accrue on the November 30 Balance Sheet) all obligations that are payable under any health insurance plan maintained by Seller or Seller as of the Closing Date.
All properties used in the operations of the Company are reflected in the November 30 Balance Sheet to the extent U.S. GAAP requires the same to be reflected.
The accounts receivable of the Company (a) are bona fide receivables and represent amounts due with respect to actual, arm's length transactions entered into in the ordinary course of business, and (b) subject to reserves for non collectibility reflected in the November 30 Balance Sheet, are collectible and legal, valid and binding obligations of the obligors.
The value at which Seller carries the Inventory on the November 30 Balance Sheet reflects Seller's customary inventory valuation policy consistently applied.
The Records from which the Financial Statements and the November 30 Balance Sheet, December 31 Balance Sheet and January 31 Balance Sheet were prepared were complete and accurate in all material respects at the time of such preparation.
The Seller has also furnished Purchaser with a balance sheet of the Seller as of November 30, 1997 (the "November 30 Balance Sheet") (together with a supporting schedule reflecting all individual liabilities set forth therein) and the related statement of income for the eleven-month period then ended together with the notes relating thereto, if any.