Latest Financial Statement definition
Examples of Latest Financial Statement in a sentence
Since the date of the TexStar Latest Financial Statement, there has been no condemnation, seizure, damage, destruction or other casualty loss (whether or not covered by insurance) affecting any of the TexStar Assets in any material respect which has not subsequently been repaired, replaced or restored.
Except to the extent paid prior to the Closing Date, such Accounts Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Latest Financial Statement or on the Closing Date Balance Sheet (which reserves are adequate and calculated consistent with past practice).
All accounts receivable shown on the Latest Financial Statements were, and all such receivables now held by the Company and its Subsidiaries are, collectible and are not subject to any defense, offset or counterclaim, except to the extent reserved on the Latest Financial Statement or thereafter on the general ledger and journals of the Company and its Subsidiaries in accordance with GAAP.
The Latest Financial Statement has been prepared in accordance with generally accepted accounting principles applicable to unaudited interim financial statements (and thus may not contain all notes and may not contain prior period comparative data which are required to be prepared in accordance with generally accepted accounting principles) and reflects all adjustments necessary to a fair statement of the results for the interim period presented.
Sellers has paid, accrued on its Latest Financial Statement, or will pay when due all income, sales, use, business, occupation, personal or real property or any similar taxes and all taxes of any kind related to any period prior to the Closing Date, including without limitation, any tax relating to the wages, benefits or income of any employee, consultant or commission agent connected with the Assets, whether owed by Sellers or by any such employee, consultant or commission agent.
Seller has no Liabilities with respect to the System, except (a) those which are reflected or reserved against in the Latest Financial Statement, and (b) those which have been incurred in the Ordinary Course of Operations since the Latest Financial Statement Date and which are not, individually or in the aggregate, material in amount.
The Latest Financial Statement is based upon the information contained in the books and records of Seller and fairly presents the financial condition of the business as of the date thereof and results of operations for the period referred to therein.
Since the date of the SXE Latest Financial Statement, there has been no condemnation, seizure, damage, destruction or other casualty loss (whether or not covered by insurance) affecting any of the SXE Assets in any material respect which has not subsequently been repaired, replaced or restored.
Except as disclosed in Schedule 3.22(c), no such customer or supplier has ceased or materially reduced its purchases from, use of the services of, sales to or provision of services to the Business since the Latest Financial Statement Date, or to the Knowledge of Seller, has threatened to cease or materially reduce such purchases, use, sales or provision of services after the date hereof.
Without limiting the generality of the foregoing, the entire reserve set forth on the Latest Financial Statement or the general ledger and journals of the Company and its Subsidiaries, as applicable, is available for any accounts receivable, whether or not such accounts receivable were considered in establishing such reserve.