Compliant Financial Statements definition

Compliant Financial Statements means the audited consolidated balance sheets, audited statements of income, stockholders’ equity and cash flows as is required to effect an Initial Public Offering (as defined in the LLC Agreement) pursuant to an effective registration statement under the Securities Act filed with the Securities and Exchange Commission on Form S-1 or Form F-1, as applicable (or a successor form).

Compliant Financial Statements means financial statements of the Company that are required to be included in the Form S-4 and which would not be required to be updated under Rule 3-12 or Regulation S-X in order to permit a registration statement on Form S-4 to be declared effective by the SEC.

Compliant Financial Statements means the financial statements in a form that is substantially compliant with the requirements for effecting an Initial Public Offering (as defined in the LLC Agreement) on the Stock Exchange of Hong Kong Limited.

Examples of Compliant Financial Statements in a sentence

• Parent shall use commercially reasonable efforts to cause its accountants to prepare the Compliant Financial Statements as soon as practicable, but in any event no later than 12 months after the Closing, and Parent shall deliver such Compliant Financial Statements to Buyer.

• Seller shall use commercially reasonable efforts to cause its accountants to prepare the Compliant Financial Statements as soon as practicable, but in any event no later than 18 months after the Closing and Seller shall deliver such Compliant Financial Statements to Buyer.

• The Compliant Financial Statements will (i) be prepared from the books and records of the Company and (ii) contain and reflect all necessary adjustments and accruals for a fair presentation in all material respects of the financial condition of the Company and its Subsidiaries as of their dates.

• Purchaser shall promptly, upon request from Sellers’ Representative, reimburse Sellers for all documented out-of-pocket costs incurred by Sellers or their Affiliates in connection with the preparation of the S-X Compliant Financial Statements and the Most Recent Interim Financial Statements.

• Such Compliant Financial Statements will have been prepared in accordance with GAAP applied on a consistent basis (except as may be indicated in the notes thereto) and in accordance with the requirements of the Public Company Accounting Oversight for public companies.

• The Compliant Financial Statements will be true, complete and correct in all material respects and fairly present, in all material respects, the financial position of the Company and its Subsidiaries as of the dates thereof and the results of operations of the Company and its Subsidiaries for the periods reflected therein.

• Seller shall have delivered to Buyer the S-X Compliant Financial Statements and the Most Recent Interim Financial Statements, together with a consent from MHM to the incorporation by reference of MHM’s audit reports with respect to the S-X Compliant Financial Statements into Buyer’s registration statements filed under the Securities Act.

• The Company will, promptly following the written request of Parent, provide Compliant Financial Statements to Parent.

• This will be treated as windfall income in the year and offsets some of the investment income shortfall against the budget.

• Following December 31, 2018 franchise fee income will be recognized as required by GAAP (including with respect to the guidance under ASC 606) for purposes of the GAAP Compliant Financial Statements although for all other purposes hereunder (including, without limitation, calculation of financial covenants) franchise fee income shall continue to be treated as specified in the foregoing sentence.

More Definitions of Compliant Financial Statements

Compliant Financial Statements has the meaning given in paragraph 3.5 of Schedule 16 (Seller's Warranties).