Interim Financial Statements definition
Examples of Interim Financial Statements in a sentence
Upon delivery, the term Annual Financial Statements shall include such audited financial statements, the term Interim Financial Statements shall include such reviewed financial statements, and the term Financial Statements shall include both such audited and reviewed financial statements and shall be deemed to be included in the Disclosure Schedules.
The Company has no liabilities, obligations or commitments of a type required to be reflected on a balance sheet prepared in accordance with GAAP, except (i) those which are adequately reflected or reserved against in the most recent balance sheet of the Company included in the Interim Financial Statements (the date of such balance sheet, the “Balance Sheet Date”); and (ii) those which have been incurred in the ordinary course of business since the Balance Sheet Date.
Except as disclosed in the Audited Financial Statements and the Interim Financial Statements, the Corporations have no other Indebtedness and without limitation the Vendors shall have satisfied all unassumed debt of the Corporations.
The Financial Statements have been prepared in accordance with GAAP, and on that basis fairly present in all material respects the financial condition of the Company as of the date they were prepared and the results of the operations of the Company for the respective periods indicated, subject to (i) normal year-end adjustments, either individually or in the aggregate and (ii) the absence of related notes with respect to the Interim Financial Statements.
In the case of any Inventory that is obsolete, damaged, defective, or discontinued, either (a) the value of such Inventory has been fully written down or (b) adequate reserves have been provided in the Interim Financial Statements.