Balance Sheet definition
Examples of Balance Sheet in a sentence
The reserve for bad debts shown on the Interim Balance Sheet or, with respect to accounts receivable arising after the Interim Balance Sheet Date, on the accounting records of the Subsidiary have been determined in accordance with U.S. GAAP, consistently applied, subject to normal year end adjustments and the absence of disclosures normally made in footnotes.
Since the date of the Audited Balance Sheet, there has been no Material Adverse Effect.
All inventory of the Subsidiary, whether or not reflected in the Balance Sheet, consists of a quality and quantity usable and salable in the ordinary course of business consistent with past practice, except for obsolete, damaged, defective, or slow-moving items that have been written off or written down to fair market value or for which adequate reserves have been established.
The balance sheets of the Subsidiary as of September 30, 2024, are referred to herein as the “Balance Sheet,” and the date thereof as the “Balance Sheet Date.” The balance sheets of the Subsidiary as of November 30, 2025, is referred to herein collectively as the “Interim Balance Sheet,” and the date thereof as the “Interim Balance Sheet Date”.
As soon as the Audited Balance Sheet becomes available, the Company shall promptly, but not later than four Business Days after the Closing Date, file a Current Report on Form 8-K with the Commission, which Report shall contain the Audited Balance Sheet.