GMMV definition
Examples of GMMV in a sentence
Following Seller's request, Buyers shall promptly provide Seller with all data and information in the possession of Buyers or the GMMV necessary to allow Seller to prepare all Tax Returns required to be filed by Seller hereunder.
Any Income Tax allocation or sharing agreement to which the GMMV is a party will be terminated for the GMMV on or before the Closing Date.
Buyers acknowledge that as a party to the GMMV Agreement it has received such information and has such rights to additional information (whether or not exercised) concerning the assets, liabilities and operation of GMMV as are necessary or desirable in order for Buyers to determine to enter into this Agreement and consummate the transactions herein contemplated.
Attached hereto as Exhibit "F" are the following GMMV financial statements (collectively the "FINANCIAL STATEMENTS"): (i) audited consolidated balance sheets and statements of income (loss), changes in participants' equity, and cash flow as of and for the fiscal year ended December 31, 1996, and (ii) unaudited consolidated balance sheets and statements of income (loss), changes in participants' equity, and cash flow as of and for the four months ended April 30, 1997 (the "MOST RECENT FISCAL MONTH END").
The Buyers and the Seller are referred to collectively herein as the "PARTIES." The parties entered into a Mining Venture Agreement dated June 1, 1990 for the formation and operation of the Green Mountain Mining Venture (the "GMMV") which is currently conducted under the "GMMV Agreement" (as defined in Annex III).
Seller shall prepare and file all Tax Returns of the GMMV (including any amendments thereto) with respect to any taxable year (including any short taxable year) ending on or before the Closing Date.
In the event the Parties cannot reach such agreement, the allocation of the Cash Price (and all other capitalizable costs arising under this Agreement) to the GMMV Interest and Acquired Assets will be made in accordance with an appraisal of said assets performed by one of the "big six" accounting firms not including the independent auditors of Kennecott or the Buyers.
The Mining Venture Agreement as amended by the GMMV Amendment, the Mineral Lease Agreement and the Mill Contract shall continue to apply in accordance with the terms set forth therein applicable to the period following the termination of this Agreement.
The Financial Statements have been prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby and present fairly the financial condition of the GMMV as of such dates and the results of operations of the GMMV for such periods; PROVIDED, HOWEVER, that the Financial Statements are subject to normal year-end adjustments and lack footnotes and other presentation items.
The Buyers will treat and hold as such any Confidential Information either receives from the Seller or the GMMV in the course of the reviews contemplated by this ss.