IAC Financial Statements definition
Examples of IAC Financial Statements in a sentence
The IAC Financial Statements are in accordance with the books and records of IAC, do not reflect any transactions which are not bona fide transactions and do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements contained therein, in light of the circumstances in which they were made, not misleading.
The IAC Financial Statements have been prepared in accordance with GAAP consistently applied and present fairly the financial position, assets and liabilities of IAC as at the dates thereof and the revenues, expenses, results of operations and cash flows of IAC for the periods covered then ended (subject, in the case of the unaudited interim IAC Financial Statements to normal year-end audit adjustments consistent with past practice).
Except to the extent reflected or ----------- reserved against on the balance sheets of IAC constituting a part of the IAC Financial Statements, IAC has no debts, liabilities or obligations of any nature other than liabilities incurred subsequent to the date of such balance sheets in the ordinary course of IAC's business.
Except as disclosed ----------------------------- in or reflected in the IAC Financial Statements, or as contemplated by this Agreement or the Certificate of Merger, since June 30, 1996, IAC has not (i) taken any of the actions set forth in Section 5.3, (ii) suffered any IAC Material Adverse Effect, (iii) suffered any damage, destruction or Loss to any of its assets or properties (whether or not covered by insurance), or (iv) increased the compensation of any executive officer of IAC.
Attached hereto as Schedule 7.7 is a true and correct copy of the IAC Financial Statements.
The IAC Financial Statements make full and adequate disclosure of, and provision for, all obligations and liabilities of IAC as of the date thereof.