CBI Financial Statements definition
Examples of CBI Financial Statements in a sentence
Except as set forth in Section 4.13.4 of the CBI DISCLOSURE SCHEDULE, neither CBI nor any CBI Subsidiary has any current liability under any such plan that was required to be reflected as a liability on the Financial Statements as of December 31, 2004 under GAAP, which was not reflected on the consolidated statement of financial condition of CBI at December 31, 2004 included in the CBI Financial Statements.
The CBI Companies have filed all federal, state, and local tax returns and reports required to be filed, and all taxes shown by such returns to be due and payable have been paid or are reflected as a liability in the CBI Financial Statements or are being contested in good faith and have been Previously Disclosed.
Notwithstanding anything to the contrary contained in this Section 3.17, no representation or warranty is being made as to the sufficiency of collateral securing, or the collectability of, the loans of the Bank; provided, however, that to Knowledge of CBI, except as disclosed in the CBI Financial Statements, no loan of the Bank is impaired and there is no impairment of the fair value of any collateral securing any loan of the Bank.
Neither CBI nor any of its Subsidiaries is a party to nor has agreed to enter into an exchange traded or over-the-counter swap, forward, future, option, cap, floor or collar financial contract or agreement, or any other contract or agreement not included in CBI Financial Statements which is a financial derivative contract (including various combinations thereof).
No claim is pending, or to the knowledge of CBI threatened or imminent with respect to any CBI Employee Plan (other than a routine claim for benefits for which plan administrative review procedures have not been exhausted) for which CBI or Classic would be liable after September 30, 2004, except as is reflected on the CBI Financial Statements.
The Subsequent CBI Financial Statements will be prepared on a basis consistent with CBI’s past accounting practices and GAAP, to the extent required, and shall present fairly the financial condition and results of operations as of the dates and for the periods presented (except in the case of unaudited financial information for the absence of notes and/or year-end adjustments).
As of the date hereof, neither CBI nor BANK have any debt, liability or obligation (whether accrued, contingent, absolute or otherwise) known to any of such corporations of the nature which would customarily be included in a corporate balance sheet or the notes thereto prepared in accordance with generally accepted accounting principles that is not reflected or reserved against in the CBI Financial Statements or was not incurred in the ordinary course of their business.
Except as disclosed or reserved against in the CBI Financial Statements, all of the CBI Companies have good and marketable title free and clear of all material liens, encumbrances, charges, defaults or equities of whatever character to all of the material properties and assets, tangible or intangible, reflected in the CBI Financial Statements as being owned by the CBI Companies as of the dates thereof.
The CBI Financial Statements (i) are in accordance with the respective books of CBI and its Subsidiaries; (ii) have been prepared in a manner substantially consistent with generally accepted accounting principles consistently applied throughout the period involved; and (iii) present the separate entity financial positions of CBI and its Subsidiaries as of the respective date’s thereof and the separate entity results of operations for CBI and its Subsidiaries for the periods therein.
Except as set forth on Confidential Schedule 3.05(a), the CBI Financial Statements do not contain any items of extraordinary or nonrecurring income or any other income not earned in the ordinary course of business except as expressly specified therein.