Examples of Prior Financial Statements in a sentence
Each of the Prior Financial Statements (i) was prepared in accordance with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods indicated and (ii) fairly presents, in all material respects, the financial position, results of operations and cash flows of the Company as at the date thereof and for the period indicated therein, except, in each case, as otherwise noted therein and subject to the absence of notes.
Restatement of Prior Financial Statements - During the fourth quarter of 2009, we identified an error in the tax accounting following the sale of the Acquired Business to Hannover Re of $49.8 million, representing deferred tax liabilities that reverse following the expiration of net operating losses in applicable jurisdictions.
The Company shall have delivered, or shall have caused to be delivered, to Buyer the Prior Financial Statements and the Current Financial Statements.
All accounts receivable of Seller that are reflected in the Prior Financial Statements or on the accounting records of Seller as of the Closing Date (collectively, the "Accounts Receivable") represent or will represent in all material respects valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business.
The financial statements of the Borrower dated prior hereto ("Prior Financial Statements") delivered to the Lender are complete and correct, in all material respects, have been prepared in accordance with generally accepted accounting principles consistently applied and no material adverse change in the condition of the Borrower, financial or otherwise, has occurred since the date of said Prior Financial Statements, except as has been disclosed to the Lender in writing.