Common use of CURRENT STATEMENTS Clause in Contracts

CURRENT STATEMENTS. The Seller shall cause its Interim Financial Statements to be reviewed by its current firm of certified public accountants and provide the Buyer with (a) a copy of such reviewed report, even if it is not finished before the Closing, and (b) copies of its monthly internal balance sheets and related statements of operations for the monthly accounting periods between the Interim Balance Sheet Date and the Closing Date by the 15th day of each month for the preceding calendar month, which shall present fairly the financial position of the Seller and the results of operations for the period indicated in accordance with GAAP, except for the absence of footnotes. Such monthly statements shall show: (x) the current month's and prior year's actual results for such month and the current month's budget, each by line item, (y) items of non-recurring income and expense separately, and (z) 1998 and 1999 year-to-date information for each of the foregoing, all of which shall be presented fairly and in accordance with GAAP, except for the absence of footnotes. In addition, the Seller shall provide to the Buyer simultaneously with the delivery of these monthly financial statements, financial information to permit the Buyer to compute readily the income from operations of the Business for such month and the year-to-date.

CURRENT STATEMENTS. The Seller Company shall cause its Interim Financial Statements to be reviewed by its current firm of certified public accountants and provide the Buyer with (a) a copy of such reviewed report, even if it is not finished before the Closing, and (b) copies of its monthly internal balance sheets and related statements of operations for the monthly accounting periods between the Interim Balance Sheet Date and the Closing Date by the 15th day of each month for the preceding calendar month, which shall present fairly the financial position of the Seller Company and the results of operations for the period indicated in accordance with GAAP, except for the absence of footnotes. Such monthly statements shall show: (x) the current month's and prior year's actual results for such month and the current month's budget, each by line item, (y) items of non-recurring income and expense separately, and (z) 1998 and 1999 year-to-date information for each of the foregoing, all of which shall be presented fairly and in accordance with GAAP, except for the absence of footnotes. In addition, the Seller Company shall provide to the Buyer simultaneously with the delivery of these monthly financial statements, financial information to permit the Buyer to compute readily the income from operations of the Business for such month and the year-to-date.