Common use of Accounting Practices Clause in Contracts

Accounting Practices. Each Company makes and keeps accurate books and records reflecting its respective assets and maintains internal accounting controls that provide reasonable assurance that (i) transactions are executed with management’s authorization, (ii) transactions are recorded as necessary to permit preparation of such Company’s financial statements and to maintain accountability for the assets of such Company, (iii) access to the assets of such Company is permitted only in accordance with management’s authorization and (iv) the reported accountability of the assets of such Company is compared with existing assets at reasonable intervals.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Bulova Technologies Group, Inc.), Stock Purchase Agreement (Bulova Technologies Group, Inc.)

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Accounting Practices. Each The Company makes and keeps accurate books and records reflecting its respective assets and maintains internal accounting controls that provide reasonable assurance that (i) transactions are executed with management’s 's authorization, ; (ii) transactions are recorded as necessary to permit preparation of such the Company’s 's financial statements and to maintain accountability for the assets of such the Company, ; (iii) access to the assets of such the Company is permitted only in accordance with management’s authorization 's authorization; and (iv) the reported accountability of the assets of such the Company is compared with existing assets at reasonable intervals.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Dover Saddlery Inc), Stock Purchase and Loan Agreement (Thinking Tools Inc)

Accounting Practices. Each The Company makes and keeps materially accurate books and records reflecting its respective assets and maintains internal accounting controls that provide reasonable assurance that (ia) transactions are executed in accordance with management’s authorization, 's authorization and (iib) transactions are recorded as necessary to permit preparation of such the Company’s financial statements 's Financial Statements and to maintain accountability for the assets of such the Company, (iii) access to the assets of such Company is permitted only in accordance with management’s authorization and (iv) the reported accountability of the assets of such Company is compared with existing assets at reasonable intervals.

Appears in 1 contract

Samples: Stock Purchase Agreement (Dynamics Research Corp)

Accounting Practices. Each The Company makes and keeps accurate books and records reflecting its respective assets and maintains internal accounting controls that provide reasonable assurance that (i) transactions are executed with management’s authorization, (ii) transactions are recorded as necessary to permit preparation of such the Company’s financial statements and to maintain accountability for the assets of such the Company, (iii) access to the assets of such the Company is permitted only in accordance with management’s authorization and (iv) the reported accountability of the assets of such the Company is compared with existing assets at reasonable intervals.

Appears in 1 contract

Samples: Stock Acquisition Agreement (Alternet Systems Inc)

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Accounting Practices. Each Company makes The Companies make and keeps keep accurate books and records reflecting its respective assets their total asset value and maintains internal accounting controls that provide reasonable assurance that (ia) transactions are executed with management’s authorization, 's authorization and (iib) transactions are recorded as necessary to permit preparation of such Company’s the Companies' financial statements and to maintain accountability for the assets of such Company, (iii) access to the assets of such Company is permitted only in accordance with management’s authorization and (iv) the reported accountability of the assets of such Company is compared with existing assets at reasonable intervalsCompanies.

Appears in 1 contract

Samples: Agreement (Biophan Technologies Inc)

Accounting Practices. Each The Company makes and keeps accurate -------------------- books and records reflecting its respective assets total asset value and maintains internal accounting controls that provide reasonable assurance that (ia) transactions are executed with management’s authorization, 's authorization and (iib) transactions are recorded as necessary to permit preparation of such the Company’s 's financial statements and to maintain accountability for the assets of such Company, (iii) access to the assets of such Company is permitted only in accordance with management’s authorization and (iv) the reported accountability liabilities of the assets of such Company is compared with existing assets at reasonable intervalsCompany.

Appears in 1 contract

Samples: Share Purchase Agreement (Psinet Inc)

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