Parent Interim Balance Sheet definition
Examples of Parent Interim Balance Sheet in a sentence
Since the Parent Interim Balance Sheet Date, neither Parent nor any of its Subsidiaries has incurred or suffered to exist any liability, debt or obligation (whether absolute, accrued, contingent or otherwise), except liabilities, debt and obligations incurred in the ordinary course of business, consistent with past practice, none of which will have a Material Adverse Effect.
The accruals and reserves for Taxes (including deferred taxes) reflected in the Parent Interim Balance Sheet are in all material respects adequate to cover all Taxes accruable through the date thereof (including Taxes being contested) in accordance with GAAP.
Parent does not have any accrued, contingent or other liabilities of any nature, either matured or unmatured, except for: (a) liabilities reflected in the Unaudited Parent Interim Balance Sheet or the notes thereto; (b) normal and recurring current liabilities that have been incurred by Parent since September 30, 1999 in the ordinary course of business and consistent with past practices; or (c) liabilities arising out of this Agreement and the transactions contemplated herein.
All such Tax Returns are complete and correct in all material respects (except to the extent a reserve has been established as reflected in the Parent Interim Balance Sheet).
Since the Parent Interim Balance Sheet Date, no Material Adverse Effect has occurred, and no event, occurrence, development or state of circumstances or facts has occurred that will, or could reasonably be expected to have a Material Adverse Effect.
The Parent has provided or made available to the Company the unaudited and consolidated balance sheet (the "Parent Interim Balance Sheet") as of and for each of the two months ended August 31, 2005 (the "Parent Interim Balance Sheet Date") and related statements of operations and cash flows (collectively, the "Parent Interim Financial Statements.
Parent has no Indebtedness or Liabilities of the nature required under GAAP to be reflected on a balance sheet or the notes thereto other than those (a) incurred in connection with the Transactions, (b) specifically reflected in, fully reserved against, or otherwise described in the Parent Interim Balance Sheet or the notes thereto, (c) incurred in the Ordinary Course of Business since the Parent Interim Balance Sheet Date, or (d) that are immaterial to Parent.
The unpaid Taxes of the Parent and Acquisition Subsidiary for tax periods through the Parent Interim Balance Sheet Date do not exceed the accruals and reserves for Taxes (excluding accruals and reserves for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the Parent Interim Balance Sheet.
Also attached as Schedule 4.4(a) are true and complete copies of the balance sheet of the Parent Group as of October 31, 2005 (the "Parent Interim Balance Sheet Date") and the related statement of income, changes in shareholder's equity and cash flows for the ten (10) months then ended, which financial statements have prepared in the ordinary course of Parent's business and in accordance with the books and records of Parent.
All accounts receivable of the Parent and the Subsidiaries reflected on the Parent Interim Balance Sheet are valid receivables subject to no setoffs or counterclaims and are current and collectible (within 90 days after the date on which it first became due and payable), net of the applicable reserve for bad debts on the Parent Interim Balance Sheet.