Separation Balance Sheet Clause Samples

Separation Balance Sheet. (a) Sandoz shall provide such assistance as Novartis (or the auditors Novartis appoints for such purposes) may reasonably request in order to allow Novartis (or the auditors Novartis appoints for such purposes) to prepare combined financial statements of the Sandoz Group as at the last day of the month immediately prior to the month in which the Distribution occurs (the Separation Balance Sheet), including to support any audit and/or review procedures requested by Novartis’s auditors, which shall be prepared in accordance with the methodologies and accounting principles used to prepare the Sandoz Business Financial Statements and shall be delivered to both Sandoz and Novartis as soon as reasonably practicable following the Distribution. (b) In respect of the preparation of the Separation Balance Sheet, any Third Party auditor or expert costs incurred in preparing and/or auditing the Separation Balance Sheet shall be borne by Novartis. (c) Novartis and Sandoz shall each be responsible for any Third Party auditor or expert costs they (or their respective auditors) incur in the preparation and/or audit of any financial statements or statutory balance sheets after the Separation Date.