IFRS Financial Statements Clause Samples
The IFRS Financial Statements clause requires that a party prepares and presents its financial statements in accordance with International Financial Reporting Standards (IFRS). This means that all relevant financial documents, such as balance sheets and income statements, must comply with the recognition, measurement, and disclosure requirements set by IFRS, ensuring consistency and comparability across jurisdictions. The core function of this clause is to provide transparency and uniformity in financial reporting, reducing ambiguity and facilitating informed decision-making by stakeholders.
IFRS Financial Statements. Each of the Warrantors hereby covenants and agrees to cooperate with the Purchaser so that, following the Closing, the IFRS Financial Statements shall be delivered to the Purchaser as soon as practicable following the Closing, and in any event on or before the date that is 71 days following the Closing Date. The IFRS Financial Statements shall be prepared and, in the case of the Audited IFRS Financial Statements, audited in such form and substance as to satisfy CTCM’s obligation to file with the U.S. Securities and Exchange Commission financial statements for the Target Group complying with Rule 3-05 of Regulation S-X. The IFRS Financial Statements shall have been prepared in accordance with IFRS and shall include the reconciliation to US GAAP required by Item 17 of Form 20-F under the Exchange Act.
IFRS Financial Statements. (a) As soon as reasonably practicable after the date hereof, the Company shall instruct and take steps necessary to allow its independent auditors, Mazars Coresa (the “Independent Auditor”), to prepare and deliver (and conduct such review as may be necessary to prepare and deliver) to the Company an opinion that the audited consolidated financial statements of the Company included in the Company’s AMF Documents for the 12 months ended December 31, 2008 and 2007 and the six months ended December 31, 2006 comply with IFRS.
(b) The Company shall cause the audited consolidated financial statements of the Company for the 12 months ended December 31, 2008 and 2007 and the six months ended December 31, 2006 and the unaudited consolidated interim financial statements of the Company for the quarters ended March 31, 2009 and June 30, 2009, in each case, included in the Company’s AMF Documents and which will be included in the Proxy Statement or the S-4 to state in the notes thereto that such financial statements comply with IFRS in accordance with Item 17 of Form 20-F under the 1934 Act.
IFRS Financial Statements. The Seller shall have delivered to the Purchaser financial statements for the Target Group for each of the financial years ended December 31, 2005, 2006 and 2007, consolidated if required by International Financial Reporting Standards as adopted by the International Accounting Standards Board (“IFRS”), together with an unqualified audit opinion thereon (the “Audited IFRS Financial Statements”) (and, to the extent required to satisfy CTCM’s obligation to file with the U.S. Securities and Exchange Commission financial statements for the Target Group complying with Rule 3-05 of Regulation S-X, any interim period thereafter prior to Closing and corresponding prior year interim period (the “Interim IFRS Financial Statements”, and together with the Audited IFRS Financial Statements, the “IFRS Financial Statements”)). The IFRS Financial Statements shall have been prepared and, in the case of the Audited IFRS Financial Statements, audited in such form and substance as to satisfy CTCM’s obligation to file with the U.S. Securities and Exchange Commission financial statements for the Target Group complying with Rule 3-05 of Regulation S-X. The IFRS Financial Statements shall have been prepared in accordance with IFRS and shall include the reconciliation to US GAAP required by Item 17 of Form 20-F under the Exchange Act.
IFRS Financial Statements. As soon as practicable following the date hereof, the Company shall provide to Iris copies of (i) the audited balance sheet of the Company as of December 31, 2023; (ii) the audited balance sheet of the Company as of December 31, 2022; (iii) the audited balance sheet of the Company as of December 31, 2021; (iv) the related audited statements of operations and cash flows of the Company for the years then ended; (v) the unaudited balance sheet of the Company as of June 30, 2024, and the related unaudited consolidated statements of operations and cash flows of the Company for the six months then ended, in each case, prepared in accordance with IFRS applied on a consistent basis throughout the periods indicated (collectively, the “IFRS Financial Statements”).