PBI Financial Statements definition
Examples of PBI Financial Statements in a sentence
All Taxes due by or on behalf of PBI or any of its Subsidiaries have been paid or adequate reserves have been established on the PBI Financial Statements for the payment of such Taxes.
The values to which PBI has ascribed to other real estate owned shown on the most recent PBI Financial Statements and PBI Call Reports reflect reasonable estimates of the fair value of such other real estate, less estimated costs to dispose of such other real estate, as of the dates thereof.
As of the date hereof, neither PBI nor BANK have any debt, liability or obligation (whether accrued, contingent, absolute or otherwise) of the nature which would customarily be included in a corporate balance sheet or the notes thereto prepared in accordance with generally accepted accounting principles that is not reflected or reserved against in the PBI Financial Statements or was not incurred in the ordinary course of their business.
The value of any BOLI is and has been fairly and accurately reflected in the most recent balance sheet included in the PBI Financial Statements in accordance with GAAP.
Except as set forth in Schedule 3.8, neither PBI nor any of its Subsidiaries has any liability (contingent or otherwise) that is material to PBI on a consolidated basis, or that, when combined with all similar liabilities, would be material to PBI on a consolidated basis, except as disclosed in the PBI Financial Statements contained in an SEC Document filed prior to the date hereof and except for liabilities incurred in the ordinary course of business consistent with past practice since March 31, 2003.
Neither PBI nor any Subsidiary is a party to nor has agreed to enter into an exchange traded or over-the-counter swap, forward, future, option, cap, floor or collar financial contract or agreement, or any other contract or agreement not included in the PBI Financial Statements which is a financial derivative contract (including various combinations thereof).
Except as disclosed in the PBI Financial Statements or as otherwise contemplated by this Agreement, since the date of the PBI Latest Balance Sheet, PBI has conducted its business only in the ordinary course consistent with past practice.
The PBI Financial Statements for periods ended prior to the date hereof are listed on Schedule 5.5 and have been previously furnished to NCC.
There is no audit examination, deficiency, refund Litigation or matter in controversy pending, or to the Knowledge of each PBI Company, threatened, with respect to any Taxes that might result in a determination that would have, individually or in the aggregate, a Material Adverse Effect on PBI, except as reserved against in the PBI Financial Statements delivered prior to the date of this Agreement.
The PBI Financial Statements have been prepared in accordance with GAAP consistently applied with past practice (except in each case as described in the notes thereto) and on that basis present fairly, in all material respects, the financial position and the results of operations, changes in stockholders’ equity, and cash flows of PBI on a consolidated basis as of the dates of and for the periods referred to in the PBI Financial Statements.