Examples of Stub Financial Statements in a sentence
The books and records of the Subsidiary are being maintained in accordance with applicable legal and accounting requirements as necessary to permit the preparation of financial statements in accordance GAAP and to maintain asset accountability The Audited Financial Statements, the Unaudited Stub Financial Statements and the Unaudited Annual Financial Statements are collectively referred to in this Agreement as the Financial Statements.
The Unaudited Stub Financial Statements and the Unaudited Annual Financial Statements (i) were prepared in accordance with the books and records of the Subsidiary; and (ii) were prepared in accordance with GAAP consistently applied other than required footnote disclosures and the required statements of cash flows and certain year end accruals and reserves.
The Audited Financial Statements, the Unaudited Stub Financial Statements and the Unaudited Annual Financial Statements reflect the consistent application of accounting principles throughout the periods incurred.
The Audited Financial Statements, the Unaudited Stub Financial Statements and the Unaudited Annual Financial Statements present fairly the financial condition and position and operating results of the Subsidiary as of the respective dates thereof and for the periods therein indicated.
The Sellers and WRF agree that the cost of the preparation of the 1999 Financial Statements, 1999 Balance Sheet, the Stub Financial Statements, the Stub Balance Sheet, the LNC and LSC Financial Statements and the LNC and LSC Balance Sheets shall be borne by the Sellers, up to $40,000.
All notes and accounts receivable of Strobic reflected in the Audited Stub Financial Statements are valid receivables subject to no set-offs or counterclaims, are current and collectible, and will be collected in accordance with their terms at their recorded amounts, subject only to the reserve for bad debts set forth in the Audited Stub Financial Statements, in accordance with GAAP, consistently applied.
The Unaudited Stub Financial Statements and the Unaudited Annual Financial Statements were prepared in accordance with the Books and Records of the Company.
The Buyer shall bear the first Six Hundred Thousand U.S. Dollars ($600,000) in costs and expenses (and the Buyer and the Seller shall share equally all additional costs and expenses above Six Hundred Thousand U.S. Dollars ($600,000)) with respect to the Seller’s independent auditor and other audit related third party expenses with respect to the audit of the Audited Financial Statements and the preparation of the Stub Financial Statements.
The combined balance sheet of the Companies that is included in the Stub Financial Statements reflects adequate accruals for all Taxes payable by the Companies for all taxable periods and portions thereof through May 31, 2007.
The Management Stockholders know of no reason that would make such accounts receivable, net of such amounts as will be reserved in the Unaudited Stub Financial Statements or on the Corporation’s books and records, taken as a whole, not collectible.