AUDITED CLOSING STATEMENT Clause Samples
AUDITED CLOSING STATEMENT. Within fifteen (15) days after Seller’s notice to Purchaser that some line items remain in dispute, Purchaser and Seller shall select a nationally recognized independent accounting firm which is one of the four largest such firms as of such date to audit the line items in dispute on the Closing Statement and any other items that must be reviewed to resolve the dispute, provided that such accounting firm may not be the accounting firm then employed by Seller or Purchaser. The cost of such audit and the preparation of the Audited Closing Statement shall be shared equally between the Purchaser and the Seller. Except as otherwise provided in this Agreement, the “Audited Closing Statement” prepared by such accounting firm shall be final, conclusive and binding on the parties for matters covered thereby and a judgment may be entered thereon. The Audited Closing Statement shall be in a form substantially similar to the Closing Statement, except that it will reflect the payment of any Interim Closing Payment.
AUDITED CLOSING STATEMENT. 4 (f) AUDITED NET BOOK VALUE.................................................................4 (g) BANKRUPTCY.............................................................................4 (h) CAPITAL ACCOUNT........................................................................5 (i) CAPITAL CONTRIBUTION...................................................................5 (j) CAPITAL TRANSACTION....................................................................5 (k) CASH FLOW..............................................................................6 (l) CAUSE..................................................................................6 (m) CODE...................................................................................6 (n) CONTRIBUTION DATE......................................................................6 (o) DISABILITY.............................................................................6 (p) EVENT OF WITHDRAWAL....................................................................7 (q) FAIR MARKET VALUE......................................................................7 (r) FORMATION DATE.........................................................................7 (s) LIQUIDATION............................................................................7 (t) LIQUIDATION PROCEEDS...................................................................7 (u) MAJORITY IN INTEREST...................................................................7 (v) MANAGING MEMBER........................................................................8 (w) MEMBER.................................................................................8 (x)
AUDITED CLOSING STATEMENT. Audited Closing Statement" means the closing balance sheet of the Old Company, as of December 31, 1996, prepared in accordance with generally accepted accounting principles, and as audited by Ernst & Young.