Examples of Interim Balance Sheet in a sentence
It provides that the Acquired Companies have not incurred any liabilities, except for liabilities: ―(i) accrued or reserved against on the Interim Balance Sheet (which reserves are adequate, appropriate and reasonable); (ii) incurred in the Ordinary Course of Business of the Company since the date of the Interim Balance Sheet .
I discuss OSI‘s claims for indemnification in greater detail infra in Part II.A.2.claims that this obligation amounts to a liability under the SPA, and that Sellers violated Section 3.6 of the SPA because this liability was not: (a) accrued or reserved against on the Interim Balance Sheet; (b) incurred in the ordinary course of business after June 30, 2011; or (c) set forth on the schedules attached to the SPA.
Furthermore, the SPA requires all liabilities that have been incurred before June 30, 2011 to be either: (1) accounted for on the Interim Balance Sheet, or (2) set forth on the schedules attached to the SPA.